Ancora Advisors LLC Reduces Stock Holdings in Gartner, Inc. (NYSE:IT)

Ancora Advisors LLC trimmed its holdings in shares of Gartner, Inc. (NYSE:IT) by 0.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,952 shares of the information technology services provider’s stock after selling 85 shares during the quarter. Ancora Advisors LLC’s holdings in Gartner were worth $4,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IT. Raymond James Financial Services Advisors Inc. raised its holdings in Gartner by 53.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 4,269 shares of the information technology services provider’s stock worth $1,926,000 after purchasing an additional 1,486 shares during the period. Blue Trust Inc. grew its position in Gartner by 33.5% in the fourth quarter. Blue Trust Inc. now owns 343 shares of the information technology services provider’s stock worth $155,000 after acquiring an additional 86 shares during the period. Caprock Group LLC lifted its stake in Gartner by 4.7% during the fourth quarter. Caprock Group LLC now owns 928 shares of the information technology services provider’s stock worth $419,000 after purchasing an additional 42 shares in the last quarter. AdvisorNet Financial Inc lifted its stake in Gartner by 59.5% during the fourth quarter. AdvisorNet Financial Inc now owns 67 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 25 shares in the last quarter. Finally, Hutchens & Kramer Investment Management Group LLC acquired a new position in Gartner during the fourth quarter worth $311,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IT has been the topic of several analyst reports. Morgan Stanley increased their price objective on Gartner from $440.00 to $470.00 and gave the company an “equal weight” rating in a research note on Thursday, July 11th. BMO Capital Markets raised their price target on Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a report on Wednesday. Robert W. Baird raised their price objective on shares of Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a research report on Wednesday. UBS Group lifted their price target on shares of Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft started coverage on Gartner in a research report on Tuesday, April 16th. They set a “hold” rating and a $507.00 price objective for the company. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Gartner has an average rating of “Moderate Buy” and an average target price of $521.00.

Gartner Trading Up 1.2 %

Gartner stock traded up $6.09 during midday trading on Wednesday, reaching $504.86. The stock had a trading volume of 401,352 shares, compared to its average volume of 406,666. The stock’s 50-day simple moving average is $447.16 and its 200 day simple moving average is $454.38. Gartner, Inc. has a twelve month low of $323.61 and a twelve month high of $508.36. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $39.19 billion, a PE ratio of 50.23, a price-to-earnings-growth ratio of 4.08 and a beta of 1.33.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.20. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. Gartner had a return on equity of 141.55% and a net margin of 13.35%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business posted $2.85 EPS. Analysts expect that Gartner, Inc. will post 11.63 EPS for the current year.

Insider Activity at Gartner

In related news, Director James C. Smith sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $455.20, for a total transaction of $4,552,000.00. Following the sale, the director now directly owns 608,369 shares in the company, valued at approximately $276,929,568.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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 stock was sold at an average price of $456.13, for a total transaction of $200,241.07. Following the completion of the sale, the executive vice president now owns 1,959 shares in the company, valued at approximately $893,558.67. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James C. Smith sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 608,369 shares of the company’s stock, valued at approximately $276,929,568.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,544 shares of company stock worth $10,079,813. 3.60% of the stock is currently owned by company insiders.

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.