Bank of Nova Scotia Sells 8,994 Shares of Gartner, Inc. (NYSE:IT)

Bank of Nova Scotia reduced its position in Gartner, Inc. (NYSE:IT) by 23.7% in the 4th quarter, HoldingsChannel reports. The firm owned 28,896 shares of the information technology services provider’s stock after selling 8,994 shares during the period. Bank of Nova Scotia’s holdings in Gartner were worth $13,999,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FIL Ltd raised its stake in Gartner by 48.7% in the 4th quarter. FIL Ltd now owns 17,342 shares of the information technology services provider’s stock worth $8,402,000 after purchasing an additional 5,679 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Gartner by 6.7% during the fourth quarter. Invesco Ltd. now owns 955,134 shares of the information technology services provider’s stock worth $462,734,000 after purchasing an additional 60,306 shares during the period. FMR LLC raised its position in shares of Gartner by 8.6% in the fourth quarter. FMR LLC now owns 2,822,122 shares of the information technology services provider’s stock valued at $1,367,233,000 after buying an additional 223,087 shares in the last quarter. 2Xideas AG boosted its stake in shares of Gartner by 45.0% in the fourth quarter. 2Xideas AG now owns 24,776 shares of the information technology services provider’s stock valued at $12,003,000 after buying an additional 7,687 shares during the period. Finally, Unigestion Holding SA grew its position in Gartner by 2.0% during the fourth quarter. Unigestion Holding SA now owns 48,424 shares of the information technology services provider’s stock worth $23,460,000 after buying an additional 970 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Gartner Stock Performance

NYSE IT opened at $392.37 on Friday. The company has a fifty day moving average price of $464.31 and a 200-day moving average price of $497.11. The firm has a market cap of $30.14 billion, a price-to-earnings ratio of 24.48, a PEG ratio of 3.30 and a beta of 1.26. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. Gartner, Inc. has a 1 year low of $366.05 and a 1 year high of $584.01.

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

Insiders Place Their Bets

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

Analysts Set New Price Targets

IT has been the subject of a number of analyst reports. UBS Group dropped their price target on Gartner from $565.00 to $500.00 and set a “buy” rating for the company in a research note on Tuesday, March 25th. Barclays dropped their target price on shares of Gartner from $600.00 to $510.00 and set an “overweight” rating for the company in a research report on Friday, April 4th. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Wells Fargo & Company lowered their price objective on shares of Gartner from $488.00 to $401.00 and set an “underweight” rating for the company in a research report on Wednesday. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $518.00.

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.