Peapack Gladstone Financial Corp Cuts Stake in Gartner, Inc. (NYSE:IT)

Peapack Gladstone Financial Corp lessened its holdings in Gartner, Inc. (NYSE:IT) by 8.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,679 shares of the information technology services provider’s stock after selling 410 shares during the period. Peapack Gladstone Financial Corp’s holdings in Gartner were worth $2,267,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Kestra Investment Management LLC purchased a new position in Gartner in the fourth quarter valued at $29,000. SBI Securities Co. Ltd. purchased a new position in shares of Gartner in the 4th quarter valued at about $49,000. Promus Capital LLC acquired a new position in shares of Gartner during the fourth quarter worth about $57,000. Hurley Capital LLC purchased a new stake in shares of Gartner during the fourth quarter worth approximately $73,000. Finally, Global Retirement Partners LLC raised its holdings in Gartner by 14.0% in the fourth quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider’s stock valued at $134,000 after acquiring an additional 34 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Trading Down 0.3 %

NYSE:IT opened at $382.25 on Tuesday. The stock’s 50 day moving average price is $479.61 and its 200 day moving average price is $501.20. The company has a market capitalization of $29.36 billion, a PE ratio of 23.85, a P/E/G ratio of 3.30 and a beta of 1.26. Gartner, Inc. has a 52-week low of $366.05 and a 52-week high of $584.01. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $2.23. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the previous year, the firm posted $3.04 EPS. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, research analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current year.

Analyst Upgrades and Downgrades

IT has been the topic of a number of recent analyst reports. UBS Group dropped their price objective on shares of Gartner from $565.00 to $500.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. Barclays dropped their target price on Gartner from $600.00 to $510.00 and set an “overweight” rating on the stock in a report on Friday. Wells Fargo & Company decreased their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a report on Friday, January 10th. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Gartner has a consensus rating of “Hold” and an average target price of $525.38.

Insider Activity

In related news, Director Eileen Serra sold 1,200 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $489.77, for a total value of $587,724.00. Following the sale, the director now directly owns 1,627 shares in the company, valued at $796,855.79. The trade was a 42.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the transaction, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

About Gartner

Gartner, Inc operates as a research and advisory company in the United States, Canada, Europe, the Middle East, Africa, and internationally. It operates through three segments: Research, Conferences, and Consulting. The Research segment delivers its research primarily through a subscription service that include on-demand access to published research content, data and benchmarks, and direct access to a network of research experts.