Thrive Wealth Management LLC Sells 72 Shares of Gartner, Inc. (NYSE:IT)

Thrive Wealth Management LLC lessened its holdings in shares of Gartner, Inc. (NYSE:IT) by 3.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,918 shares of the information technology services provider’s stock after selling 72 shares during the quarter. Thrive Wealth Management LLC’s holdings in Gartner were worth $914,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in IT. BSW Wealth Partners increased its holdings in shares of Gartner by 3.7% during the fourth quarter. BSW Wealth Partners now owns 617 shares of the information technology services provider’s stock valued at $278,000 after acquiring an additional 22 shares in the last quarter. Allworth Financial LP boosted its position 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 last quarter. Sheaff Brock Investment Advisors LLC boosted its position 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 last quarter. AdvisorNet Financial Inc boosted its position in shares of Gartner by 59.5% during the fourth quarter. AdvisorNet Financial Inc now owns 67 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 25 shares during the last quarter. Finally, Hexagon Capital Partners LLC boosted its position in shares of Gartner by 36.2% during the fourth quarter. Hexagon Capital Partners LLC now owns 94 shares of the information technology services provider’s stock valued at $42,000 after buying an additional 25 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on IT shares. Robert W. Baird dropped their price objective on Gartner from $536.00 to $517.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. UBS Group dropped their price objective on Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. BMO Capital Markets dropped their price objective on 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 cut Gartner from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Gartner in a research report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $474.50.

Insider Activity

In other news, EVP Yvonne Genovese sold 439 shares of Gartner stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $456.13, for a total transaction of $200,241.07. Following the transaction, the executive vice president now directly owns 1,959 shares of the company’s stock, valued at approximately $893,558.67. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Yvonne Genovese sold 439 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $456.13, for a total value of $200,241.07. Following the transaction, the executive vice president now directly owns 1,959 shares of the company’s stock, valued at approximately $893,558.67. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James C. Smith sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $455.20, for a total value of $4,552,000.00. Following the sale, the director now directly owns 608,369 shares in the company, valued at $276,929,568.80. The disclosure for this sale can be found here. Insiders have sold a total of 22,544 shares of company stock valued at $10,079,813 in the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Gartner Stock Performance

NYSE:IT traded up $3.06 on Friday, hitting $447.83. The stock had a trading volume of 16,506 shares, compared to its average volume of 407,759. Gartner, Inc. has a 52-week low of $323.61 and a 52-week high of $486.54. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.42. The stock has a market cap of $34.77 billion, a price-to-earnings ratio of 44.26, a price-to-earnings-growth ratio of 3.91 and a beta of 1.32. The business’s 50-day simple moving average is $438.90 and its two-hundred day simple moving average is $452.30.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.40. Gartner had a return on equity of 141.55% and a net margin of 13.35%. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the previous year, the firm earned $2.88 EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, research analysts predict that Gartner, Inc. will post 11.55 earnings per share for the current 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.