Sumitomo Mitsui Trust Holdings Inc. Sells 181,664 Shares of Gartner Inc (NYSE:IT)

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Sumitomo Mitsui Trust Holdings Inc. trimmed its stake in shares of Gartner Inc (NYSE:IT) by 32.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 383,888 shares of the information technology services provider’s stock after selling 181,664 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Gartner were worth $46,577,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Synovus Financial Corp raised its stake in Gartner by 31.7% during the first quarter. Synovus Financial Corp now owns 386 shares of the information technology services provider’s stock valued at $37,000 after buying an additional 93 shares during the last quarter. Ellevest Inc. raised its stake in Gartner by 54.5% during the first quarter. Ellevest Inc. now owns 275 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 97 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Gartner by 48.1% in the 4th quarter. Advisors Asset Management Inc. now owns 351 shares of the information technology services provider’s stock worth $54,000 after purchasing an additional 114 shares in the last quarter. GFG Capital LLC increased its holdings in shares of Gartner by 4.0% in the 2nd quarter. GFG Capital LLC now owns 3,369 shares of the information technology services provider’s stock worth $409,000 after purchasing an additional 130 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Gartner by 7.2% in the 4th quarter. Franklin Resources Inc. now owns 1,963 shares of the information technology services provider’s stock worth $303,000 after purchasing an additional 132 shares in the last quarter. Institutional investors and hedge funds own 93.46% of the company’s stock.

Shares of IT opened at $124.64 on Friday. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.70 and a quick ratio of 0.70. Gartner Inc has a one year low of $76.91 and a one year high of $165.26. The firm has a market capitalization of $11.11 billion, a P/E ratio of 27.51, a PEG ratio of 4.06 and a beta of 1.47. The business has a fifty day moving average of $121.26 and a 200 day moving average of $124.66.

Gartner (NYSE:IT) last issued its quarterly earnings data on Thursday, May 7th. The information technology services provider reported $1.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.88. Gartner had a return on equity of 44.23% and a net margin of 6.70%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the company posted $0.58 earnings per share. Gartner’s revenue was up 5.1% compared to the same quarter last year. Analysts expect that Gartner Inc will post 3.07 EPS for the current fiscal year.

In related news, EVP Robin B. Kranich sold 2,599 shares of Gartner stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $118.24, for a total value of $307,305.76. Following the completion of the sale, the executive vice president now owns 10,806 shares of the company’s stock, valued at $1,277,701.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.00% of the company’s stock.

A number of analysts have commented on the company. Morgan Stanley reduced their target price on Gartner from $140.00 to $130.00 and set an “equal weight” rating for the company in a report on Friday, July 10th. BMO Capital Markets lifted their target price on Gartner from $100.00 to $122.00 and gave the stock a “market perform” rating in a report on Monday, May 11th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Gartner has an average rating of “Hold” and a consensus price target of $124.60.

Gartner Profile

Gartner, Inc operates as a research and advisory company. It operates through three segments: Research, Conferences, and Consulting. The Research segment offers objective insights and advice on the priorities of various leaders in a range of functional areas of the enterprise through research and other reports, briefings, proprietary tools, access to analysts, peer networking services, and membership programs that enable clients to make better decisions; and practice and talent management research insights in various business functions, such as human resources, sales, legal, and finance.

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Institutional Ownership by Quarter for Gartner (NYSE:IT)

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