First Mercantile Trust Co. lessened its position in shares of Gartner Inc (NYSE:IT) by 19.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,474 shares of the information technology services provider’s stock after selling 583 shares during the quarter. First Mercantile Trust Co.’s holdings in Gartner were worth $305,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Janus Henderson Group PLC boosted its position in shares of Gartner by 5.5% in the third quarter. Janus Henderson Group PLC now owns 4,514,836 shares of the information technology services provider’s stock worth $561,691,000 after buying an additional 236,241 shares during the period. Polen Capital Management LLC boosted its position in shares of Gartner by 2.5% in the third quarter. Polen Capital Management LLC now owns 4,072,192 shares of the information technology services provider’s stock worth $506,621,000 after buying an additional 99,243 shares during the period. TimesSquare Capital Management LLC boosted its position in shares of Gartner by 4.2% in the third quarter. TimesSquare Capital Management LLC now owns 2,231,200 shares of the information technology services provider’s stock worth $277,584,000 after buying an additional 89,600 shares during the period. Artisan Partners Limited Partnership boosted its position in shares of Gartner by 15.3% in the third quarter. Artisan Partners Limited Partnership now owns 2,129,523 shares of the information technology services provider’s stock worth $264,934,000 after buying an additional 282,571 shares during the period. Finally, Bares Capital Management Inc. boosted its position in shares of Gartner by 3.8% in the third quarter. Bares Capital Management Inc. now owns 1,138,918 shares of the information technology services provider’s stock worth $141,693,000 after buying an additional 42,195 shares during the period. 95.31% of the stock is owned by institutional investors.

Several equities research analysts have recently weighed in on the company. Morgan Stanley upped their target price on Gartner from $118.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Monday, October 23rd. Zacks Investment Research downgraded Gartner from a “buy” rating to a “hold” rating in a research report on Monday, February 5th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $130.00 target price on shares of Gartner in a research report on Tuesday, January 23rd. TheStreet raised Gartner from a “c+” rating to a “b” rating in a research report on Tuesday, February 6th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $143.00 target price on shares of Gartner in a research report on Friday, November 3rd. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Gartner has an average rating of “Buy” and an average target price of $134.30.

Gartner Inc (IT) opened at $118.24 on Tuesday. The company has a market capitalization of $10,469.28, a PE ratio of 35.00, a P/E/G ratio of 1.78 and a beta of 1.06. Gartner Inc has a 1-year low of $100.33 and a 1-year high of $142.16. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 3.38.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, February 6th. The information technology services provider reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.15). The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. Gartner had a net margin of 0.10% and a return on equity of 49.06%. The company’s revenue for the quarter was up 44.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.97 EPS. equities analysts forecast that Gartner Inc will post 3.94 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “First Mercantile Trust Co. Lowers Holdings in Gartner Inc (IT)” was first reported by TheOlympiaReport and is the property of of TheOlympiaReport. If you are viewing this news story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark law. The correct version of this news story can be accessed at https://theolympiareport.com/2018/02/13/first-mercantile-trust-co-lowers-holdings-in-gartner-inc-it.html.

Gartner Profile

Gartner, Inc is an information technology research and advisory company. The Company works with clients to research, analyze and interpret the business of information technology (IT), supply chain and marketing within the context of their individual roles. It operates in three segments: Research, Consulting and Events.

Want to see what other hedge funds are holding IT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gartner Inc (NYSE:IT).

Institutional Ownership by Quarter for Gartner (NYSE:IT)

Receive News & Ratings for Gartner Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gartner and related companies with MarketBeat.com's FREE daily email newsletter.