Zurcher Kantonalbank Zurich Cantonalbank Sells 1,700 Shares of Gartner, Inc. (NYSE:IT)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of Gartner, Inc. (NYSE:IT) by 3.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 54,761 shares of the information technology services provider’s stock after selling 1,700 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Gartner were worth $26,530,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. raised its position in shares of Gartner by 5.5% in the third quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock worth $1,014,099,000 after buying an additional 103,814 shares in the last quarter. Verdence Capital Advisors LLC bought a new position in Gartner in the 3rd quarter worth about $226,000. Assetmark Inc. raised its holdings in shares of Gartner by 70.0% in the 3rd quarter. Assetmark Inc. now owns 5,144 shares of the information technology services provider’s stock valued at $2,607,000 after acquiring an additional 2,118 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Gartner during the 3rd quarter valued at about $44,000. Finally, Venturi Wealth Management LLC grew its holdings in shares of Gartner by 58.6% during the third quarter. Venturi Wealth Management LLC now owns 2,530 shares of the information technology services provider’s stock worth $1,282,000 after purchasing an additional 935 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Gartner

In other Gartner news, SVP John J. Rinello sold 90 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $530.51, for a total value of $47,745.90. Following the completion of the sale, the senior vice president now owns 3,259 shares in the company, valued at approximately $1,728,932.09. This trade represents a 2.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eileen Serra sold 1,200 shares of Gartner stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $489.77, for a total value of $587,724.00. Following the completion of the sale, the director now owns 1,627 shares in the company, valued at approximately $796,855.79. This represents a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Morgan Stanley lowered their target price on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, March 5th. Wells Fargo & Company dropped their price objective on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a report on Friday, January 10th. Robert W. Baird increased their target price on Gartner from $579.00 to $605.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $552.63.

Gartner Stock Performance

NYSE IT opened at $466.63 on Wednesday. The firm has a market cap of $35.85 billion, a price-to-earnings ratio of 29.11, a PEG ratio of 3.30 and a beta of 1.29. The company has a 50-day simple moving average of $509.57 and a two-hundred day simple moving average of $510.31. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. Gartner, Inc. has a 12-month low of $411.15 and a 12-month high of $584.01.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, beating the consensus estimate of $3.22 by $2.23. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. Gartner’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.04 EPS. On average, equities analysts forecast that Gartner, Inc. will post 12.5 EPS 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.