Gartner, Inc. (NYSE:IT) Shares Sold by Townsquare Capital LLC

Townsquare Capital LLC reduced its position in Gartner, Inc. (NYSE:IT) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,705 shares of the information technology services provider’s stock after selling 986 shares during the period. Townsquare Capital LLC’s holdings in Gartner were worth $23,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in IT. Transcend Capital Advisors LLC acquired a new position in shares of Gartner in the second quarter worth about $512,000. Tidal Investments LLC increased its stake in shares of Gartner by 24.4% in the 1st quarter. Tidal Investments LLC now owns 9,890 shares of the information technology services provider’s stock valued at $4,717,000 after purchasing an additional 1,940 shares in the last quarter. Swedbank AB purchased a new position in shares of Gartner in the 1st quarter valued at about $30,735,000. Cetera Investment Advisers raised its holdings in Gartner by 245.0% in the 1st quarter. Cetera Investment Advisers now owns 21,453 shares of the information technology services provider’s stock worth $10,226,000 after purchasing an additional 15,235 shares during the period. Finally, Choreo LLC purchased a new position in Gartner during the second quarter worth approximately $722,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on IT shares. Robert W. Baird boosted their price objective on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Bank of America upped their price objective on shares of Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Morgan Stanley lifted their target price on shares of Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Wells Fargo & Company upped their price target on shares of Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 6th. Finally, UBS Group lifted their price objective on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $539.25.

Insider Activity

In other Gartner news, EVP Claire Herkes sold 478 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $506.01, for a total transaction of $241,872.78. Following the completion of the sale, the executive vice president now owns 1,905 shares of the company’s stock, valued at $963,949.05. This trade represents a 20.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Hensel sold 5,580 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $490.00, for a total value of $2,734,200.00. Following the completion of the transaction, the executive vice president now directly owns 19,724 shares in the company, valued at approximately $9,664,760. This trade represents a 22.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,729 shares of company stock valued at $37,809,011. 3.60% of the stock is currently owned by insiders.

Gartner Trading Up 0.8 %

IT opened at $523.13 on Wednesday. The firm has a market capitalization of $40.35 billion, a price-to-earnings ratio of 38.58, a price-to-earnings-growth ratio of 3.24 and a beta of 1.32. The company’s 50 day simple moving average is $520.24 and its two-hundred day simple moving average is $482.02. Gartner, Inc. has a 1-year low of $411.15 and a 1-year high of $559.00. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.05. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.56 earnings per share. Analysts expect that Gartner, Inc. will post 11.89 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.