Gartner, Inc. (NYSE:IT) Shares Sold by Covey Capital Advisors LLC

Covey Capital Advisors LLC cut its holdings in Gartner, Inc. (NYSE:IT) by 19.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,859 shares of the information technology services provider’s stock after selling 1,419 shares during the period. Gartner accounts for about 3.3% of Covey Capital Advisors LLC’s holdings, making the stock its 12th biggest position. Covey Capital Advisors LLC’s holdings in Gartner were worth $2,969,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in IT. Eastern Bank purchased a new position in Gartner in the third quarter valued at approximately $26,000. Ashton Thomas Securities LLC bought a new position in shares of Gartner in the 3rd quarter worth about $44,000. Crewe Advisors LLC lifted its holdings in Gartner by 223.3% in the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock worth $44,000 after acquiring an additional 67 shares during the last quarter. Fortitude Family Office LLC lifted its holdings in shares of Gartner by 23.8% in the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after purchasing an additional 20 shares during the last quarter. Finally, Asset Dedication LLC boosted its holdings in shares of Gartner by 46.5% during the third quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock valued at $75,000 after acquiring an additional 47 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Gartner

In other news, Director James C. Smith sold 2,128 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $500.15, for a total value of $1,064,319.20. Following the transaction, the director now directly owns 572,090 shares of the company’s stock, valued at $286,130,813.50. The trade was a 0.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Akhil Jain sold 500 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $492.00, for a total value of $246,000.00. Following the completion of the transaction, the executive vice president now directly owns 4,339 shares in the company, valued at approximately $2,134,788. This represents a 10.33 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,149 shares of company stock valued at $37,694,911. Corporate insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IT. Barclays boosted their price objective on Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Wells Fargo & Company lifted their price objective on shares of Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 6th. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Robert W. Baird upped their price target on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Gartner currently has an average rating of “Hold” and a consensus price target of $539.25.

Gartner Stock Performance

IT opened at $519.23 on Friday. Gartner, Inc. has a 12-month low of $411.15 and a 12-month high of $559.00. The stock’s 50 day moving average price is $520.93 and its two-hundred day moving average price is $483.12. The firm has a market capitalization of $40.05 billion, a P/E ratio of 38.29, a price-to-earnings-growth ratio of 3.24 and a beta of 1.32. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.56 EPS. On average, equities analysts forecast that Gartner, Inc. will post 11.89 earnings per share for the current 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.