Johnson Investment Counsel Inc. Reduces Position in Gartner, Inc. (NYSE:IT)

Johnson Investment Counsel Inc. decreased its position in Gartner, Inc. (NYSE:IT) by 15.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,313 shares of the information technology services provider’s stock after selling 1,749 shares during the period. Johnson Investment Counsel Inc.’s holdings in Gartner were worth $2,256,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of IT. Candlestick Capital Management LP raised its holdings in shares of Gartner by 1,116.7% in the 1st quarter. Candlestick Capital Management LP now owns 365,000 shares of the information technology services provider’s stock valued at $66,631,000 after purchasing an additional 335,000 shares in the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of Gartner by 1,751.3% during the second quarter. Westfield Capital Management Co. LP now owns 266,026 shares of the information technology services provider’s stock worth $64,431,000 after buying an additional 251,656 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Gartner by 172.0% in the first quarter. Renaissance Technologies LLC now owns 275,609 shares of the information technology services provider’s stock valued at $50,312,000 after purchasing an additional 174,300 shares during the period. Bank of Montreal Can grew its stake in Gartner by 83.1% during the second quarter. Bank of Montreal Can now owns 371,971 shares of the information technology services provider’s stock worth $90,656,000 after buying an additional 168,791 shares during the period. Finally, Jennison Associates LLC purchased a new stake in Gartner during the second quarter worth approximately $36,049,000. Hedge funds and other institutional investors own 91.72% of the company’s stock.

Several analysts recently issued reports on IT shares. William Blair reaffirmed an “outperform” rating on shares of Gartner in a report on Tuesday, August 3rd. Barclays boosted their target price on shares of Gartner from $250.00 to $300.00 and gave the company an “equal weight” rating in a research note on Friday, August 6th. Zacks Investment Research lowered shares of Gartner from a “strong-buy” rating to a “hold” rating and set a $323.00 price target for the company. in a research report on Tuesday, October 5th. Morgan Stanley upped their price target on shares of Gartner from $322.00 to $341.00 and gave the stock an “overweight” rating in a research report on Thursday, September 23rd. Finally, BMO Capital Markets increased their target price on shares of Gartner from $234.00 to $280.00 and gave the company a “market perform” rating in a research report on Wednesday, August 4th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $269.00.

In related news, EVP Alwyn Dawkins sold 2,872 shares of the company’s stock in a transaction on Wednesday, August 4th. The stock was sold at an average price of $295.28, for a total transaction of $848,044.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott Hensel sold 3,177 shares of the stock in a transaction dated Friday, September 3rd. The shares were sold at an average price of $312.50, for a total value of $992,812.50. Following the completion of the sale, the executive vice president now directly owns 2,463 shares of the company’s stock, valued at approximately $769,687.50. The disclosure for this sale can be found here. Insiders sold a total of 20,222 shares of company stock worth $6,176,175 in the last 90 days. Company insiders own 3.60% of the company’s stock.

Shares of NYSE IT opened at $306.40 on Thursday. Gartner, Inc. has a 52-week low of $115.86 and a 52-week high of $327.20. The stock has a market cap of $25.63 billion, a PE ratio of 47.21, a PEG ratio of 2.97 and a beta of 1.61. The company has a debt-to-equity ratio of 4.66, a quick ratio of 0.78 and a current ratio of 0.78. The business has a fifty day moving average of $307.30 and a two-hundred day moving average of $256.04.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, August 3rd. The information technology services provider reported $2.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.51. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.12 billion. Gartner had a return on equity of 67.28% and a net margin of 13.06%. The company’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.20 EPS. Analysts predict that Gartner, Inc. will post 7.83 earnings per share for the current year.

About Gartner

Gartner, Inc is a research and advisory company, which delivers technology-related insights to its clients to make right decisions. It operates through the following segments: Research, Consulting and Conferences. The Research segment gives advices on the mission-critical priorities of leaders. The Consulting segment offers customized solutions to unique client needs through on-site, day-to-day support, and proprietary tools for measuring and improving IT performance.

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Institutional Ownership by Quarter for Gartner (NYSE:IT)

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