MAI Capital Management Sells 2,252 Shares of Gartner, Inc. (NYSE:IT)

MAI Capital Management decreased its stake in Gartner, Inc. (NYSE:IT) by 12.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,587 shares of the information technology services provider’s stock after selling 2,252 shares during the period. MAI Capital Management’s holdings in Gartner were worth $7,899,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. AMG National Trust Bank bought a new position in Gartner in the third quarter valued at approximately $207,000. Gilbert & Cook Inc. boosted its holdings in shares of Gartner by 6.3% in the 3rd quarter. Gilbert & Cook Inc. now owns 1,344 shares of the information technology services provider’s stock valued at $681,000 after buying an additional 80 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Gartner by 8.2% in the third quarter. Thrivent Financial for Lutherans now owns 37,824 shares of the information technology services provider’s stock valued at $19,168,000 after buying an additional 2,875 shares in the last quarter. Natixis Advisors LLC increased its holdings in Gartner by 15.4% during the third quarter. Natixis Advisors LLC now owns 230,939 shares of the information technology services provider’s stock worth $117,031,000 after buying an additional 30,842 shares during the last quarter. Finally, Mizuho Securities USA LLC raised its position in Gartner by 1,074.8% during the third quarter. Mizuho Securities USA LLC now owns 70,312 shares of the information technology services provider’s stock worth $35,631,000 after acquiring an additional 64,327 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Stock Performance

NYSE:IT opened at $520.73 on Tuesday. The stock has a 50 day simple moving average of $518.32 and a 200 day simple moving average of $478.34. The stock has a market cap of $40.13 billion, a P/E ratio of 38.40, a PEG ratio of 3.27 and a beta of 1.32. Gartner, Inc. has a 1-year low of $411.15 and a 1-year high of $559.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.05. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.56 EPS. Research analysts anticipate that Gartner, Inc. will post 11.89 earnings per share for the current 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 transaction of $17,213,924.00. Following the sale, the chief executive officer now directly owns 1,143,401 shares of the company’s stock, valued at approximately $577,874,865.40. This represents a 2.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Yvonne Genovese sold 443 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $483.62, for a total value of $214,243.66. Following the completion of the transaction, the executive vice president now directly owns 1,959 shares of the company’s stock, valued at approximately $947,411.58. This trade represents a 18.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 73,172 shares of company stock worth $38,023,255 in the last quarter. 3.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on IT. Robert W. Baird lifted their price objective on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft lifted their price target on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Bank of America upped their price objective on Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets lifted their target price on Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company increased their price target on Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Gartner currently has a consensus rating of “Hold” and a consensus price target of $539.25.

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.