Amalgamated Bank Cuts Stock Position in Gartner, Inc. (NYSE:IT)

Amalgamated Bank trimmed its holdings in shares of Gartner, Inc. (NYSE:IT) by 12.1% in the fourth quarter, Holdings Channel reports. The firm owned 20,595 shares of the information technology services provider’s stock after selling 2,847 shares during the period. Amalgamated Bank’s holdings in Gartner were worth $9,291,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its holdings in Gartner by 30.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,565,046 shares of the information technology services provider’s stock worth $537,766,000 after buying an additional 364,128 shares in the last quarter. American Century Companies Inc. grew its position in shares of Gartner by 888.4% during the third quarter. American Century Companies Inc. now owns 300,106 shares of the information technology services provider’s stock worth $103,119,000 after buying an additional 269,744 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in shares of Gartner in the third quarter worth $83,588,000. Allspring Global Investments Holdings LLC raised its holdings in Gartner by 384.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 201,553 shares of the information technology services provider’s stock valued at $69,257,000 after acquiring an additional 159,989 shares in the last quarter. Finally, Artisan Partners Limited Partnership bought a new position in Gartner during the 3rd quarter valued at $48,614,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director James C. Smith sold 5,000 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $455.00, for a total value of $2,275,000.00. Following the completion of the transaction, the director now owns 638,235 shares in the company, valued at approximately $290,396,925. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Claire Herkes sold 1,460 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $475.76, for a total transaction of $694,609.60. Following the completion of the sale, the executive vice president now directly owns 2,842 shares of the company’s stock, valued at approximately $1,352,109.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James C. Smith sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $455.00, for a total transaction of $2,275,000.00. Following the sale, the director now directly owns 638,235 shares of the company’s stock, valued at $290,396,925. The disclosure for this sale can be found here. Insiders sold 22,952 shares of company stock valued at $10,598,070 in the last three months. 3.60% of the stock is currently owned by corporate insiders.

Gartner Stock Performance

Shares of IT traded up $9.60 during midday trading on Friday, hitting $428.64. 478,615 shares of the stock traded hands, compared to its average volume of 463,111. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.91 and a current ratio of 0.91. Gartner, Inc. has a 1-year low of $295.43 and a 1-year high of $486.54. The business’s 50 day moving average price is $462.52 and its two-hundred day moving average price is $440.27. The firm has a market capitalization of $33.42 billion, a PE ratio of 42.65, a price-to-earnings-growth ratio of 3.36 and a beta of 1.32.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 EPS for the quarter, topping the consensus estimate of $2.53 by $0.40. Gartner had a net margin of 13.35% and a return on equity of 141.55%. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the prior year, the firm earned $2.88 EPS. Gartner’s quarterly revenue was up 4.5% on a year-over-year basis. Equities research analysts predict that Gartner, Inc. will post 11.55 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on IT shares. Robert W. Baird dropped their target price on shares of Gartner from $536.00 to $517.00 and set an “outperform” rating for the company in a research report on Wednesday. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft started coverage on Gartner in a research report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 target price for the company. UBS Group dropped their price target on Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, BMO Capital Markets dropped their price objective on shares of Gartner from $450.00 to $432.00 and set a “market perform” rating on the stock in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Gartner presently has a consensus rating of “Moderate Buy” and a consensus price target of $474.50.

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.