Gartner, Inc. (NYSE:IT) Stock Position Decreased by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. cut its stake in shares of Gartner, Inc. (NYSE:ITGet Rating) by 10.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,171,530 shares of the information technology services provider’s stock after selling 133,775 shares during the quarter. Goldman Sachs Group Inc. owned 1.42% of Gartner worth $391,667,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IT. Palumbo Wealth Management LLC raised its holdings in shares of Gartner by 14.3% during the fourth quarter. Palumbo Wealth Management LLC now owns 3,027 shares of the information technology services provider’s stock worth $1,012,000 after acquiring an additional 378 shares in the last quarter. Toroso Investments LLC raised its holdings in Gartner by 45.0% during the fourth quarter. Toroso Investments LLC now owns 3,101 shares of the information technology services provider’s stock valued at $1,037,000 after buying an additional 963 shares in the last quarter. Zullo Investment Group Inc. bought a new position in Gartner during the fourth quarter valued at about $61,000. Deutsche Bank AG grew its position in shares of Gartner by 7.9% in the fourth quarter. Deutsche Bank AG now owns 170,802 shares of the information technology services provider’s stock valued at $57,101,000 after purchasing an additional 12,538 shares during the last quarter. Finally, Qtron Investments LLC grew its position in shares of Gartner by 29.8% in the fourth quarter. Qtron Investments LLC now owns 2,778 shares of the information technology services provider’s stock valued at $929,000 after purchasing an additional 637 shares during the last quarter. 92.05% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Alwyn Dawkins sold 1,000 shares of the business’s stock in a transaction on Tuesday, February 15th. The shares were sold at an average price of $297.08, for a total value of $297,080.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eileen Serra bought 700 shares of the company’s stock in a transaction that occurred on Friday, May 6th. The stock was purchased at an average price of $251.99 per share, for a total transaction of $176,393.00. Following the acquisition, the director now owns 700 shares of the company’s stock, valued at $176,393. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 6,541 shares of company stock worth $1,802,327. 3.60% of the stock is owned by company insiders.

A number of equities research analysts have weighed in on the company. Bank of America raised Gartner from a “neutral” rating to a “buy” rating and set a $340.00 price objective on the stock in a report on Thursday, April 14th. StockNews.com assumed coverage on Gartner in a report on Thursday, March 31st. They set a “buy” rating on the stock. Morgan Stanley reduced their price objective on Gartner from $357.00 to $339.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 9th. Finally, TheStreet downgraded Gartner from a “b” rating to a “c+” rating in a research note on Tuesday, May 3rd. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $346.50.

Shares of NYSE IT traded up $7.92 during midday trading on Friday, reaching $255.52. 515,901 shares of the company were exchanged, 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. The stock has a market cap of $21.03 billion, a P/E ratio of 26.98 and a beta of 1.50. Gartner, Inc. has a one year low of $221.50 and a one year high of $368.99. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 20.79.

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

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

Gartner Company 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.

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Institutional Ownership by Quarter for Gartner (NYSE:IT)

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