New York Life Investment Management LLC Sells 50 Shares of Gartner, Inc. (NYSE:IT)

New York Life Investment Management LLC decreased its position in shares of Gartner, Inc. (NYSE:IT) by 0.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,139 shares of the information technology services provider’s stock after selling 50 shares during the quarter. New York Life Investment Management LLC’s holdings in Gartner were worth $5,476,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in IT. Principal Financial Group Inc. lifted its stake in shares of Gartner by 30.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,565,046 shares of the information technology services provider’s stock worth $537,766,000 after purchasing an additional 364,128 shares during the last quarter. American Century Companies Inc. boosted its stake in Gartner by 888.4% in the third quarter. American Century Companies Inc. now owns 300,106 shares of the information technology services provider’s stock valued at $103,119,000 after acquiring an additional 269,744 shares in the last quarter. Eagle Asset Management Inc. purchased a new position in Gartner during the 3rd quarter worth $83,588,000. Allspring Global Investments Holdings LLC boosted its holdings in Gartner by 384.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 201,553 shares of the information technology services provider’s stock worth $69,257,000 after acquiring an additional 159,989 shares in the last quarter. Finally, Artisan Partners Limited Partnership purchased a new stake in shares of Gartner during the third quarter worth about $48,614,000. 91.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Akhil Jain sold 250 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $464.55, for a total transaction of $116,137.50. Following the completion of the transaction, the executive vice president now owns 5,239 shares of the company’s stock, valued at approximately $2,433,777.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Akhil Jain sold 250 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $464.55, for a total transaction of $116,137.50. Following the transaction, the executive vice president now owns 5,239 shares of the company’s stock, valued at approximately $2,433,777.45. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Yvonne Genovese sold 560 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $457.37, for a total transaction of $256,127.20. Following the sale, the executive vice president now owns 2,398 shares in the company, valued at $1,096,773.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,952 shares of company stock valued at $10,598,070. 3.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

IT has been the subject of a number of research analyst reports. Robert W. Baird decreased their price target on shares of Gartner from $536.00 to $517.00 and set an “outperform” rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft initiated coverage on Gartner in a report on Tuesday, April 16th. They set a “hold” rating and a $507.00 target price on the stock. BMO Capital Markets decreased their price target on Gartner from $450.00 to $432.00 and set a “market perform” rating for the company in a report on Thursday. Morgan Stanley raised their price objective on shares of Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Finally, UBS Group cut their target price on shares of Gartner from $550.00 to $510.00 and set a “buy” rating for the company in a report on Wednesday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $474.50.

Gartner Stock Performance

NYSE:IT opened at $428.64 on Friday. The company has a market cap of $33.42 billion, a P/E ratio of 42.65, a P/E/G ratio of 3.36 and a beta of 1.32. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.42. Gartner, Inc. has a twelve month low of $295.43 and a twelve month high of $486.54. The company’s 50-day moving average price is $462.52 and its 200-day moving average price is $440.27.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.40. Gartner had a net margin of 13.35% and a return on equity of 141.55%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the previous year, the firm earned $2.88 earnings per share. Gartner’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, sell-side analysts forecast that Gartner, Inc. will post 11.55 earnings per share for the current fiscal year.

Gartner Company Profile

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.