Capital Asset Advisory Services LLC Sells 448 Shares of Gartner, Inc. (NYSE:IT)

Capital Asset Advisory Services LLC reduced its position in Gartner, Inc. (NYSE:IT) by 40.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 666 shares of the information technology services provider’s stock after selling 448 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in Gartner were worth $313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Morgan Stanley boosted its position in shares of Gartner by 4.6% during the third quarter. Morgan Stanley now owns 2,157,075 shares of the information technology services provider’s stock worth $741,193,000 after acquiring an additional 95,040 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Gartner by 12.0% during the fourth quarter. Wellington Management Group LLP now owns 1,852,820 shares of the information technology services provider’s stock worth $835,826,000 after acquiring an additional 198,274 shares during the last quarter. Brown Advisory Inc. boosted its position in shares of Gartner by 4.6% during the fourth quarter. Brown Advisory Inc. now owns 1,208,914 shares of the information technology services provider’s stock worth $545,353,000 after acquiring an additional 52,826 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Gartner by 18.5% during the fourth quarter. Franklin Resources Inc. now owns 920,716 shares of the information technology services provider’s stock worth $415,344,000 after acquiring an additional 143,556 shares during the last quarter. Finally, Norges Bank bought a new position in Gartner during the fourth quarter valued at $388,781,000. 91.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director James C. Smith sold 10,000 shares of Gartner stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $439.29, for a total value of $4,392,900.00. Following the completion of the sale, the director now directly owns 599,074 shares in the company, valued at approximately $263,167,217.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Gartner news, EVP Yvonne Genovese sold 439 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $456.13, for a total transaction of $200,241.07. Following the completion of 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 Securities & Exchange Commission, which is accessible through this link. Also, Director James C. Smith sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $439.29, for a total transaction of $4,392,900.00. Following the transaction, the director now directly owns 599,074 shares of the company’s stock, valued at $263,167,217.46. The disclosure for this sale can be found here. Insiders sold 22,544 shares of company stock worth $10,079,813 in the last three months. Corporate insiders own 3.60% of the company’s stock.

Gartner Stock Up 1.0 %

Shares of NYSE:IT traded up $4.29 during trading on Friday, reaching $449.06. The stock had a trading volume of 719,010 shares, compared to its average volume of 413,701. The firm’s 50-day simple moving average is $438.90 and its 200 day simple moving average is $452.30. The company has a market capitalization of $34.86 billion, a P/E ratio of 44.26, a PEG ratio of 3.91 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 one year low of $323.61 and a one year high of $486.54.

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

Analysts Set New Price Targets

IT has been the subject of several research reports. UBS Group lowered their price objective on shares of Gartner from $550.00 to $510.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. BMO Capital Markets lowered 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 report on Thursday, May 2nd. 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. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Finally, Robert W. Baird reduced their target price 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. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” 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.