Anchor Capital Advisors LLC Reduces Holdings in Gartner, Inc. (NYSE:IT)

Anchor Capital Advisors LLC decreased its position in Gartner, Inc. (NYSE:IT) by 27.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 80,134 shares of the information technology services provider’s stock after selling 29,746 shares during the period. Anchor Capital Advisors LLC’s holdings in Gartner were worth $36,149,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Private Trust Co. NA boosted its position in Gartner by 32.9% in the 3rd quarter. Private Trust Co. NA now owns 202 shares of the information technology services provider’s stock valued at $69,000 after buying an additional 50 shares during the period. Valeo Financial Advisors LLC raised its stake in Gartner by 12.2% during the 3rd quarter. Valeo Financial Advisors LLC now owns 816 shares of the information technology services provider’s stock worth $280,000 after acquiring an additional 89 shares in the last quarter. Commonwealth Equity Services LLC grew its position in Gartner by 32.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 5,371 shares of the information technology services provider’s stock worth $1,846,000 after purchasing an additional 1,310 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Gartner by 115.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 5,601 shares of the information technology services provider’s stock worth $1,925,000 after purchasing an additional 3,002 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC purchased a new position in Gartner during the 3rd quarter worth $741,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on IT shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Gartner in a report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 target price on the stock. Morgan Stanley boosted their price objective on shares of Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. BMO Capital Markets boosted their price objective on shares of Gartner from $444.00 to $450.00 and gave the stock a “market perform” rating in a report on Thursday, February 8th. UBS Group upgraded shares of Gartner from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $484.00 to $550.00 in a research report on Thursday, April 11th. Finally, StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $477.60.

Insider Activity

In other Gartner news, EVP Valentin Sribar sold 682 shares of Gartner stock in a transaction on Friday, February 16th. The shares were sold at an average price of $453.00, for a total value of $308,946.00. Following the transaction, the executive vice president now owns 12,269 shares in the company, valued at approximately $5,557,857. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director James C. Smith sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $459.68, for a total value of $4,596,800.00. Following the completion of the transaction, the director now directly owns 623,235 shares in the company, valued at $286,488,664.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Valentin Sribar sold 682 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $453.00, for a total transaction of $308,946.00. Following the completion of the sale, the executive vice president now directly owns 12,269 shares in the company, valued at $5,557,857. The disclosure for this sale can be found here. Insiders sold a total of 22,952 shares of company stock valued at $10,598,070 over the last 90 days. Insiders own 3.60% of the company’s stock.

Gartner Price Performance

IT traded down $0.13 during midday trading on Monday, reaching $448.65. 689,436 shares of the company’s stock were exchanged, compared to its average volume of 389,918. The business’s 50-day moving average price is $464.87 and its 200 day moving average price is $439.01. The company has a debt-to-equity ratio of 3.60, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $34.98 billion, a PE ratio of 40.58, a P/E/G ratio of 4.12 and a beta of 1.29. Gartner, Inc. has a 1-year low of $295.43 and a 1-year high of $486.54.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.21. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. Gartner had a net margin of 14.94% and a return on equity of 156.35%. The company’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.70 earnings per share. As a group, equities analysts anticipate that Gartner, Inc. will post 11.29 EPS for the current fiscal year.

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.