RMB Capital Management LLC Sells 22,490 Shares of Gartner Inc (NYSE:IT)

RMB Capital Management LLC decreased its holdings in shares of Gartner Inc (NYSE:IT) by 82.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,890 shares of the information technology services provider’s stock after selling 22,490 shares during the quarter. RMB Capital Management LLC’s holdings in Gartner were worth $787,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Avestar Capital LLC boosted its stake in Gartner by 1,036.8% during the 1st quarter. Avestar Capital LLC now owns 216 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 197 shares during the period. Ibex Wealth Advisors acquired a new position in Gartner in the 2nd quarter valued at approximately $40,000. FTB Advisors Inc. acquired a new position in Gartner in the 2nd quarter valued at approximately $60,000. Advisory Services Network LLC raised its holdings in Gartner by 98.0% in the 2nd quarter. Advisory Services Network LLC now owns 788 shares of the information technology services provider’s stock valued at $127,000 after acquiring an additional 390 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Gartner by 50.0% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the information technology services provider’s stock valued at $193,000 after acquiring an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

In other news, EVP Alwyn Dawkins sold 771 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $129.52, for a total value of $99,859.92. Following the completion of the transaction, the executive vice president now directly owns 34,235 shares of the company’s stock, valued at approximately $4,434,117.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Anne Sutherland Fuchs sold 1,828 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $136.75, for a total value of $249,979.00. Following the completion of the transaction, the director now directly owns 27,237 shares of the company’s stock, valued at $3,724,659.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,499 shares of company stock valued at $601,805. 4.00% of the stock is currently owned by insiders.

Several research firms have commented on IT. ValuEngine raised Gartner from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Morgan Stanley cut their price target on Gartner from $156.00 to $155.00 and set an “equal weight” rating for the company in a report on Wednesday, July 31st. Finally, BMO Capital Markets cut their price target on Gartner to $142.00 and set a “market perform” rating for the company in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $151.67.

Gartner stock traded down $0.72 during trading hours on Tuesday, hitting $137.95. The stock had a trading volume of 8,164 shares, compared to its average volume of 368,538. The company has a 50-day moving average of $134.42 and a two-hundred day moving average of $150.77. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 2.93. The company has a market cap of $12.36 billion, a PE ratio of 36.38, a price-to-earnings-growth ratio of 2.99 and a beta of 1.23. Gartner Inc has a fifty-two week low of $120.89 and a fifty-two week high of $171.77.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $1.45 EPS for the quarter, beating the consensus estimate of $1.18 by $0.27. Gartner had a return on equity of 41.29% and a net margin of 5.43%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the firm posted $1.03 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, analysts forecast that Gartner Inc will post 3.51 EPS for the current fiscal year.

Gartner Company Profile

Gartner, Inc operates as a research and advisory company. It operates through three segments: Research, Conferences, and Consulting. 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 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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