Axxcess Wealth Management LLC Reduces Stock Position in Gartner, Inc. (NYSE:IT)

Axxcess Wealth Management LLC lowered its stake in Gartner, Inc. (NYSE:IT) by 26.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,114 shares of the information technology services provider’s stock after selling 408 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Gartner were worth $503,000 as of its most recent filing with the Securities & Exchange Commission.

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

Gartner Stock Performance

Shares of Gartner stock opened at $436.90 on Wednesday. The business has a fifty day simple moving average of $461.54 and a two-hundred day simple moving average of $442.74. The firm has a market capitalization of $34.07 billion, a P/E ratio of 43.47, a P/E/G ratio of 3.44 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 12 month low of $300.94 and a 12 month high of $486.54.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on IT shares. UBS Group dropped their price target on Gartner from $550.00 to $510.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft started coverage on Gartner in a research note on Tuesday, April 16th. They issued a “hold” rating and a $507.00 target price for the company. Robert W. Baird decreased their price target on shares of Gartner from $536.00 to $517.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. BMO Capital Markets cut their price objective on shares of Gartner from $450.00 to $432.00 and set a “market perform” rating for the company in a research note on Thursday, May 2nd. Finally, StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $474.50.

Insider Transactions at Gartner

In other Gartner news, EVP Valentin Sribar sold 682 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $453.00, for a total transaction of $308,946.00. Following the sale, the executive vice president now directly 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 is accessible through the SEC website. In related news, EVP Akhil Jain sold 250 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $464.55, for a total value of $116,137.50. Following the sale, the executive vice president now owns 5,239 shares in the company, valued at $2,433,777.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Valentin Sribar sold 682 shares of Gartner stock in a transaction that occurred on Friday, February 16th. The stock was 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 of the company’s stock, valued at approximately $5,557,857. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,952 shares of company stock worth $10,598,070. Corporate 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.