Axxcess Wealth Management LLC Sells 444 Shares of Gartner, Inc. (NYSE:IT)

Axxcess Wealth Management LLC cut its stake in shares of Gartner, Inc. (NYSE:IT) by 39.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 670 shares of the information technology services provider’s stock after selling 444 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Gartner were worth $319,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. CreativeOne Wealth LLC bought a new position in Gartner during the first quarter worth $222,000. Vident Advisory LLC boosted its stake in Gartner by 543.2% during the first quarter. Vident Advisory LLC now owns 9,178 shares of the information technology services provider’s stock worth $4,375,000 after acquiring an additional 7,751 shares in the last quarter. Burns Matteson Capital Management LLC boosted its stake in Gartner by 107.8% during the first quarter. Burns Matteson Capital Management LLC now owns 937 shares of the information technology services provider’s stock worth $447,000 after acquiring an additional 486 shares in the last quarter. Meritage Group LP bought a new position in Gartner during the first quarter worth $276,000. Finally, Natixis boosted its stake in Gartner by 268.6% during the first quarter. Natixis now owns 25,928 shares of the information technology services provider’s stock worth $12,359,000 after acquiring an additional 18,894 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Insider Activity

In other news, Director James C. Smith sold 10,000 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $455.20, for a total value of $4,552,000.00. Following the completion of the sale, the director now owns 608,369 shares in the company, valued at $276,929,568.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director James C. Smith sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $455.20, for a total transaction of $4,552,000.00. Following the completion of the sale, the director now owns 608,369 shares in the company, valued at $276,929,568.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Yvonne Genovese sold 439 shares of the firm’s 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 sale, the executive vice president now owns 1,959 shares of the company’s stock, valued at approximately $893,558.67. The disclosure for this sale can be found here. Insiders sold a total of 22,544 shares of company stock worth $10,079,813 over the last quarter. Insiders own 3.60% of the company’s stock.

Gartner Stock Performance

Shares of IT stock opened at $470.92 on Friday. The firm has a 50-day moving average of $445.89 and a 200-day moving average of $453.68. The company has a market cap of $36.56 billion, a P/E ratio of 46.86, a P/E/G ratio of 4.08 and a beta of 1.33. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.91 and a quick ratio of 0.91. Gartner, Inc. has a one year low of $323.61 and a one year high of $486.54.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 EPS for the quarter, beating the consensus estimate of $2.53 by $0.40. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.47 billion. Gartner had a net margin of 13.35% and a return on equity of 141.55%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.88 earnings per share. Equities research analysts forecast that Gartner, Inc. will post 11.63 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on IT. Morgan Stanley upped their price objective on shares of Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Robert W. Baird lowered their price objective on shares of Gartner from $536.00 to $517.00 and set an “outperform” rating on the stock in a 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 on the stock in a report on Thursday, May 2nd. Finally, UBS Group lowered their price objective on shares of Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $478.50.

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.