Gartner, Inc. (NYSE:IT) Holdings Lowered by Exencial Wealth Advisors LLC

Exencial Wealth Advisors LLC reduced its holdings in Gartner, Inc. (NYSE:ITGet Rating) by 21.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,663 shares of the information technology services provider’s stock after selling 7,171 shares during the quarter. Exencial Wealth Advisors LLC’s holdings in Gartner were worth $8,914,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IT. EP Wealth Advisors LLC raised its holdings in shares of Gartner by 371,624.8% in the 3rd quarter. EP Wealth Advisors LLC now owns 4,668,863 shares of the information technology services provider’s stock worth $366,000 after purchasing an additional 4,667,607 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Gartner by 13,031.3% in the 3rd quarter. Wellington Management Group LLP now owns 1,635,242 shares of the information technology services provider’s stock worth $496,917,000 after purchasing an additional 1,622,789 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Gartner by 115.5% in the third quarter. Goldman Sachs Group Inc. now owns 1,305,305 shares of the information technology services provider’s stock worth $396,657,000 after acquiring an additional 699,707 shares in the last quarter. Voya Investment Management LLC increased its position in shares of Gartner by 183.5% in the third quarter. Voya Investment Management LLC now owns 874,791 shares of the information technology services provider’s stock worth $265,832,000 after acquiring an additional 566,174 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of Gartner in the third quarter worth approximately $135,777,000. Institutional investors and hedge funds own 92.05% of the company’s stock.

IT traded up $7.92 on Friday, reaching $255.52. 515,901 shares of the company traded hands, compared to its average volume of 559,421. The stock’s 50 day moving average price is $287.07 and its 200-day moving average price is $300.51. Gartner, Inc. has a 52-week low of $221.50 and a 52-week high of $368.99. The company has a market cap of $21.03 billion, a price-to-earnings ratio of 26.98 and a beta of 1.50. The company has a debt-to-equity ratio of 20.79, a current ratio of 0.70 and a quick ratio of 0.70.

Gartner (NYSE:ITGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The information technology services provider reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.44. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.24 billion. Gartner had a net margin of 16.39% and a return on equity of 239.82%. The firm’s revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.00 earnings per share. As a group, equities research analysts forecast that Gartner, Inc. will post 8.13 earnings per share for the current fiscal year.

Gartner announced that its Board of Directors has authorized a share buyback program on Tuesday, February 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the information technology services provider to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

In other Gartner news, Director Eileen Serra bought 700 shares of the firm’s stock in a transaction on Friday, May 6th. The stock was bought at an average cost of $251.99 per share, with a total value of $176,393.00. Following the completion of the transaction, the director now directly owns 700 shares of the company’s stock, valued at approximately $176,393. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Jules Kaufman sold 4,541 shares of the business’s stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $271.27, for a total transaction of $1,231,837.07. Following the completion of the sale, the executive vice president now owns 4,641 shares of the company’s stock, valued at $1,258,964.07. The disclosure for this sale can be found here. Insiders sold 6,541 shares of company stock valued at $1,802,327 over the last three months. Insiders own 3.60% of the company’s stock.

IT has been the topic of several analyst reports. TheStreet downgraded shares of Gartner from a “b” rating to a “c+” rating in a research report on Tuesday, May 3rd. Morgan Stanley dropped their target price on shares of Gartner from $357.00 to $339.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 9th. Bank of America raised shares of Gartner from a “neutral” rating to a “buy” rating and set a $340.00 target price on the stock in a research report on Thursday, April 14th. Finally, StockNews.com initiated coverage on shares of Gartner in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Gartner presently has an average rating of “Buy” and an average price target of $346.50.

Gartner Profile (Get Rating)

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.

Further Reading

Institutional Ownership by Quarter for Gartner (NYSE:IT)

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