Procyon Advisors LLC Sells 163 Shares of Gartner, Inc. (NYSE:IT)

Procyon Advisors LLC decreased its holdings in shares of Gartner, Inc. (NYSE:IT) by 6.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,430 shares of the information technology services provider’s stock after selling 163 shares during the period. Procyon Advisors LLC’s holdings in Gartner were worth $1,096,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. BKM Wealth Management LLC purchased a new stake in Gartner during the fourth quarter valued at about $26,000. OFI Invest Asset Management purchased a new stake in Gartner during the third quarter valued at about $25,000. Cornerstone Planning Group LLC purchased a new position in shares of Gartner in the second quarter worth about $27,000. Fortitude Family Office LLC bought a new stake in shares of Gartner in the 4th quarter worth approximately $38,000. Finally, VisionPoint Advisory Group LLC raised its holdings in Gartner by 254.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 85 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 61 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Activity at Gartner

In related news, EVP Valentin Sribar sold 682 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $453.00, for a total value of $308,946.00. Following the sale, the executive vice president now directly owns 12,269 shares of the company’s stock, valued at approximately $5,557,857. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Claire Herkes sold 1,460 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $475.76, for a total transaction of $694,609.60. Following the completion of the transaction, the executive vice president now owns 2,842 shares in the company, valued at $1,352,109.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Valentin Sribar sold 682 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $453.00, for a total transaction of $308,946.00. Following the transaction, the executive vice president now owns 12,269 shares of the company’s stock, valued at approximately $5,557,857. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,952 shares of company stock valued at $10,598,070. Insiders own 3.90% of the company’s stock.

Gartner Price Performance

Gartner stock traded up $0.94 during mid-day trading on Thursday, hitting $481.78. The stock had a trading volume of 28,113 shares, compared to its average volume of 395,517. The firm has a market capitalization of $37.56 billion, a P/E ratio of 43.50, a P/E/G ratio of 4.34 and a beta of 1.29. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.60. The firm’s 50 day moving average is $464.22 and its 200 day moving average is $421.49. Gartner, Inc. has a one year low of $292.60 and a one year high of $486.54.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, February 6th. The information technology services provider reported $3.04 EPS for the quarter, beating the consensus estimate of $2.83 by $0.21. Gartner had a net margin of 14.94% and a return on equity of 156.35%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the firm earned $3.70 EPS. The business’s revenue was up 6.3% on a year-over-year basis. On average, sell-side analysts forecast that Gartner, Inc. will post 11.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on IT shares. UBS Group boosted their target price on shares of Gartner from $412.00 to $490.00 and gave the company a “neutral” rating in a research note on Tuesday, February 6th. Morgan Stanley upped their price objective on Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. Wells Fargo & Company upped their price objective on Gartner from $380.00 to $435.00 and gave the stock an “overweight” rating in a research note on Friday, December 15th. Finally, BMO Capital Markets upped their target price on shares of Gartner from $444.00 to $450.00 and gave the stock a “market perform” rating in a report on Thursday, February 8th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Gartner presently has a consensus rating of “Hold” and a consensus price target of $455.25.

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.