Summit Investment Advisors Inc. Sells 29 Shares of Gartner, Inc. (NYSE:IT)

Summit Investment Advisors Inc. decreased its position in Gartner, Inc. (NYSE:IT) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,952 shares of the information technology services provider’s stock after selling 29 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Gartner were worth $1,915,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Howard Capital Management Inc. raised its holdings in Gartner by 4.4% in the 4th quarter. Howard Capital Management Inc. now owns 452 shares of the information technology services provider’s stock worth $219,000 after acquiring an additional 19 shares during the period. Gilbert & Cook Inc. grew its position in shares of Gartner by 1.5% in the fourth quarter. Gilbert & Cook Inc. now owns 1,364 shares of the information technology services provider’s stock valued at $661,000 after purchasing an additional 20 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in shares of Gartner by 2.5% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 826 shares of the information technology services provider’s stock worth $400,000 after purchasing an additional 20 shares during the period. Parallel Advisors LLC lifted its position in shares of Gartner by 2.9% during the 4th quarter. Parallel Advisors LLC now owns 737 shares of the information technology services provider’s stock worth $357,000 after purchasing an additional 21 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in Gartner by 2.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 917 shares of the information technology services provider’s stock valued at $444,000 after purchasing an additional 22 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Stock Performance

NYSE:IT opened at $403.50 on Wednesday. The firm has a market capitalization of $31.00 billion, a PE ratio of 25.17, a price-to-earnings-growth ratio of 3.30 and a beta of 1.26. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. Gartner, Inc. has a 12-month low of $366.05 and a 12-month high of $584.01. The firm has a 50-day moving average price of $456.10 and a 200 day moving average price of $494.86.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $2.23. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. Gartner’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.04 EPS. Research analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP John J. Rinello sold 90 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $530.51, for a total value of $47,745.90. Following the transaction, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at $1,728,932.09. The trade was a 2.69 % 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, Director Eileen Serra sold 1,200 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $489.77, for a total value of $587,724.00. Following the sale, the director now owns 1,627 shares in the company, valued at approximately $796,855.79. This trade represents a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

IT has been the topic of several recent analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. UBS Group dropped their target price on shares of Gartner from $565.00 to $500.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. Morgan Stanley reduced their price target on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Wells Fargo & Company decreased their price target on shares of Gartner from $488.00 to $401.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 9th. Finally, Robert W. Baird cut their price objective on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $518.00.

Gartner Profile

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.