HM Payson & Co. Has $1.43 Million Position in Gartner, Inc. (NYSE:IT)

HM Payson & Co. decreased its holdings in shares of Gartner, Inc. (NYSE:IT) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,816 shares of the information technology services provider’s stock after selling 24 shares during the quarter. HM Payson & Co.’s holdings in Gartner were worth $1,427,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Eastern Bank bought a new stake in shares of Gartner during the third quarter worth approximately $26,000. Central Pacific Bank Trust Division acquired a new position in Gartner in the 1st quarter valued at $36,000. Crewe Advisors LLC increased its position in Gartner by 223.3% during the 2nd quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock worth $44,000 after buying an additional 67 shares during the period. Fortitude Family Office LLC lifted its holdings in shares of Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after buying an additional 20 shares in the last quarter. Finally, J.Safra Asset Management Corp lifted its holdings in shares of Gartner by 58.7% during the first quarter. J.Safra Asset Management Corp now owns 146 shares of the information technology services provider’s stock worth $70,000 after buying an additional 54 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Gartner Trading Down 3.0 %

Shares of IT stock opened at $502.50 on Friday. Gartner, Inc. has a fifty-two week low of $329.20 and a fifty-two week high of $535.29. The stock’s fifty day moving average price is $507.37 and its two-hundred day moving average price is $470.96. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market cap of $38.72 billion, a PE ratio of 47.86, a P/E/G ratio of 3.25 and a beta of 1.32.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.20. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the prior year, the company earned $2.85 EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities analysts predict that Gartner, Inc. will post 11.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Eugene A. Hall sold 34,060 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $505.40, for a total value of $17,213,924.00. Following the completion of the transaction, the chief executive officer now directly owns 1,143,401 shares in the company, valued at approximately $577,874,865.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Gartner news, CFO Craig Safian sold 6,310 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $483.57, for a total transaction of $3,051,326.70. Following the sale, the chief financial officer now directly owns 71,544 shares of the company’s stock, valued at $34,596,532.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Eugene A. Hall sold 34,060 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the completion of the transaction, the chief executive officer now owns 1,143,401 shares of the company’s stock, valued at approximately $577,874,865.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,582 shares of company stock valued at $25,743,407. 3.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on IT shares. BMO Capital Markets raised their price target on shares of Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Bank of America boosted their price target on Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. UBS Group raised their price objective on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley upped their target price on Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Gartner currently has a consensus rating of “Hold” and a consensus target price of $532.86.

Gartner 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.