Cornerstone Wealth Management LLC Trims Holdings in Gartner Inc (IT)

Cornerstone Wealth Management LLC trimmed its holdings in shares of Gartner Inc (NYSE:IT) by 24.9% during the third quarter, Holdings Channel reports. The fund owned 15,931 shares of the information technology services provider’s stock after selling 5,268 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Gartner were worth $129,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of IT. Polen Capital Management LLC lifted its position in shares of Gartner by 1.7% in the 2nd quarter. Polen Capital Management LLC now owns 5,487,422 shares of the information technology services provider’s stock worth $729,278,000 after purchasing an additional 93,895 shares during the period. Janus Henderson Group PLC lifted its position in shares of Gartner by 11.6% in the 2nd quarter. Janus Henderson Group PLC now owns 5,238,694 shares of the information technology services provider’s stock worth $696,223,000 after purchasing an additional 543,074 shares during the period. Principal Financial Group Inc. lifted its position in shares of Gartner by 22.6% in the 1st quarter. Principal Financial Group Inc. now owns 3,589,077 shares of the information technology services provider’s stock worth $422,148,000 after purchasing an additional 662,107 shares during the period. Wells Fargo & Company MN lifted its position in shares of Gartner by 0.4% in the 2nd quarter. Wells Fargo & Company MN now owns 1,489,836 shares of the information technology services provider’s stock worth $197,999,000 after purchasing an additional 5,691 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of Gartner by 175.0% in the 2nd quarter. Bank of America Corp DE now owns 1,370,511 shares of the information technology services provider’s stock worth $182,142,000 after purchasing an additional 872,182 shares during the period.

Gartner stock opened at $147.64 on Friday. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.66 and a current ratio of 0.66. Gartner Inc has a 12-month low of $111.57 and a 12-month high of $161.21. The firm has a market cap of $13.22 billion, a P/E ratio of 44.60, a P/E/G ratio of 2.62 and a beta of 1.23.

Gartner (NYSE:IT) last released its earnings results on Thursday, November 1st. The information technology services provider reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.23. Gartner had a net margin of 3.74% and a return on equity of 36.22%. The company had revenue of $922.00 million for the quarter, compared to the consensus estimate of $919.96 million. During the same quarter in the previous year, the company earned $0.65 EPS. Gartner’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities research analysts expect that Gartner Inc will post 3.67 EPS for the current fiscal year.

In other Gartner news, EVP Alwyn Dawkins sold 6,545 shares of the company’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $146.89, for a total transaction of $961,395.05. Following the transaction, the executive vice president now owns 32,259 shares in the company, valued at $4,738,524.51. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mr Thomas Christopher sold 1,400 shares of the company’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $149.81, for a total transaction of $209,734.00. Following the transaction, the executive vice president now owns 18,738 shares in the company, valued at approximately $2,807,139.78. The disclosure for this sale can be found here. Insiders have sold a total of 12,311 shares of company stock worth $1,804,424 in the last quarter. 4.30% of the stock is owned by corporate insiders.

A number of research analysts have recently issued reports on the stock. Piper Jaffray Companies restated a “hold” rating and issued a $116.00 price target on shares of Gartner in a research report on Thursday, August 2nd. ValuEngine downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. TheStreet upgraded shares of Gartner from a “c” rating to a “b” rating in a research report on Wednesday, August 1st. Barclays restated a “buy” rating and issued a $155.00 price target on shares of Gartner in a research report on Sunday, August 12th. Finally, Morgan Stanley restated a “hold” rating and issued a $149.00 price target (up previously from $142.00) on shares of Gartner in a research report on Thursday, September 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $147.10.

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Gartner Company Profile

Gartner, Inc operates as a research and advisory company. It operates through four segments: Research, Consulting, Events, and Talent Assessment & Other. 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 our 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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