LGT Financial Advisors LLC Sells 199 Shares of Gartner, Inc. (NYSE:IT)

LGT Financial Advisors LLC trimmed its position in Gartner, Inc. (NYSE:IT) by 50.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 192 shares of the information technology services provider’s stock after selling 199 shares during the period. LGT Financial Advisors LLC’s holdings in Gartner were worth $86,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in IT. Gilbert & Cook Inc. increased its position in Gartner by 10.6% in the fourth quarter. Gilbert & Cook Inc. now owns 1,430 shares of the information technology services provider’s stock worth $645,000 after buying an additional 137 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in Gartner by 27.9% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 197 shares of the information technology services provider’s stock worth $88,000 after acquiring an additional 43 shares in the last quarter. Private Advisor Group LLC raised its stake in Gartner by 62.3% during the 4th quarter. Private Advisor Group LLC now owns 1,073 shares of the information technology services provider’s stock worth $484,000 after acquiring an additional 412 shares during the period. Apollon Wealth Management LLC lifted its holdings in Gartner by 25.7% during the fourth quarter. Apollon Wealth Management LLC now owns 1,101 shares of the information technology services provider’s stock valued at $497,000 after purchasing an additional 225 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Gartner by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 461,813 shares of the information technology services provider’s stock worth $208,328,000 after purchasing an additional 10,828 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Insider Activity at Gartner

In related news, EVP Yvonne Genovese sold 443 shares of Gartner stock in a transaction dated Monday, August 26th. The stock was 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 owns 1,959 shares in the company, valued at $947,411.58. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Scott Hensel sold 5,580 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $490.00, for a total value of $2,734,200.00. Following the completion of the sale, the executive vice president now owns 19,724 shares in the company, valued at approximately $9,664,760. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Yvonne Genovese sold 443 shares of Gartner stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $483.62, for a total transaction of $214,243.66. Following the transaction, the executive vice president now directly owns 1,959 shares of the company’s stock, valued at $947,411.58. The disclosure for this sale can be found here. Insiders have sold a total of 27,998 shares of company stock valued at $13,834,898 over the last 90 days. 3.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on IT shares. UBS Group raised their price objective on shares of Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Bank of America upped their price objective on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Morgan Stanley increased their target price on Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. Finally, BMO Capital Markets boosted their price target on Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Gartner presently has a consensus rating of “Hold” and a consensus price target of $521.00.

Gartner Price Performance

NYSE:IT opened at $483.86 on Friday. The business’s 50-day moving average is $470.86 and its 200 day moving average is $458.69. Gartner, Inc. has a 12 month low of $323.61 and a 12 month high of $509.15. The company has a market capitalization of $37.56 billion, a P/E ratio of 48.15, a P/E/G ratio of 3.83 and a beta of 1.33. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 3.80.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.20. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the prior year, the firm earned $2.85 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities research analysts forecast that Gartner, Inc. will post 11.59 earnings per share for the current fiscal year.

About Gartner

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.