Corient Private Wealth LLC Sells 1,652 Shares of Gartner, Inc. (NYSE:IT)

Corient Private Wealth LLC reduced its position in Gartner, Inc. (NYSE:IT) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,570 shares of the information technology services provider’s stock after selling 1,652 shares during the quarter. Corient Private Wealth LLC owned about 0.05% of Gartner worth $18,301,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of IT. BSW Wealth Partners lifted its position in shares of Gartner by 3.7% during the 4th quarter. BSW Wealth Partners now owns 617 shares of the information technology services provider’s stock worth $278,000 after purchasing an additional 22 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Gartner by 2.8% during the fourth quarter. Allworth Financial LP now owns 807 shares of the information technology services provider’s stock valued at $364,000 after buying an additional 22 shares during the period. Sheaff Brock Investment Advisors LLC lifted its stake in shares of Gartner by 0.5% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 4,900 shares of the information technology services provider’s stock valued at $2,210,000 after buying an additional 22 shares during the period. AdvisorNet Financial Inc increased its position in Gartner by 59.5% during the fourth quarter. AdvisorNet Financial Inc now owns 67 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 25 shares during the last quarter. Finally, Hexagon Capital Partners LLC increased its position in Gartner by 36.2% during the fourth quarter. Hexagon Capital Partners LLC now owns 94 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 25 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director James C. Smith sold 10,000 shares of Gartner stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $459.68, for a total value of $4,596,800.00. Following the sale, the director now directly owns 623,235 shares in the company, valued at approximately $286,488,664.80. The sale was disclosed in a filing with the SEC, which is available through this link. In other Gartner news, EVP Claire Herkes sold 1,460 shares of Gartner stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $475.76, for a total transaction of $694,609.60. Following the completion of the transaction, the executive vice president now owns 2,842 shares in the company, valued at $1,352,109.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James C. Smith sold 10,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was 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 owns 623,235 shares of the company’s stock, valued at approximately $286,488,664.80. The disclosure for this sale can be found here. Insiders have sold 28,549 shares of company stock valued at $13,142,472 in the last ninety days. Company insiders own 3.60% of the company’s stock.

Gartner Stock Performance

NYSE:IT traded down $6.65 during trading on Friday, reaching $439.04. The company’s stock had a trading volume of 362,135 shares, compared to its average volume of 457,826. The firm has a market cap of $34.08 billion, a price-to-earnings ratio of 43.70, a price-to-earnings-growth ratio of 3.90 and a beta of 1.32. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a 50 day moving average of $455.05 and a 200-day moving average of $450.42. Gartner, Inc. has a 12 month low of $323.61 and a 12 month high of $486.54.

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. UBS Group reduced their price objective on shares of Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Morgan Stanley lifted their target price on shares of Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. BMO Capital Markets dropped their target price on shares of Gartner from $450.00 to $432.00 and set a “market perform” rating on the stock in a research report on Thursday, May 2nd. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research note on Saturday, May 18th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Gartner in a research note on Tuesday, April 16th. They issued a “hold” rating and a $507.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Gartner currently has an average rating of “Moderate Buy” and an average target price of $474.50.

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.