DnB Asset Management AS Grows Stock Holdings in Gartner, Inc. (NYSE:IT)

DnB Asset Management AS lifted its stake in Gartner, Inc. (NYSE:IT) by 6.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,644 shares of the information technology services provider’s stock after purchasing an additional 834 shares during the quarter. DnB Asset Management AS’s holdings in Gartner were worth $6,610,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Kestra Investment Management LLC purchased a new stake in shares of Gartner in the fourth quarter worth $29,000. SBI Securities Co. Ltd. bought a new position in Gartner in the 4th quarter worth about $49,000. True Wealth Design LLC grew its position in Gartner by 2,350.0% during the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock valued at $50,000 after purchasing an additional 94 shares during the last quarter. Promus Capital LLC bought a new stake in Gartner during the 4th quarter valued at about $57,000. Finally, Global Retirement Partners LLC raised its holdings in Gartner by 14.0% in the fourth quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider’s stock worth $134,000 after buying an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In other Gartner news, SVP John J. Rinello sold 90 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the completion of the transaction, the senior vice president now directly owns 3,259 shares in the company, valued at $1,728,932.09. This represents a 2.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eileen Serra sold 1,200 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the sale, the director now owns 1,627 shares in the company, valued at $796,855.79. The trade was 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 insiders.

Gartner Trading Down 1.5 %

Gartner stock opened at $418.57 on Monday. The business has a 50-day simple moving average of $494.18 and a two-hundred day simple moving average of $505.61. Gartner, Inc. has a 52-week low of $409.50 and a 52-week high of $584.01. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The company has a market cap of $32.15 billion, a P/E ratio of 26.11, a P/E/G ratio of 3.30 and a beta of 1.29.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, beating 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 net margin of 20.00% and a return on equity of 116.56%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the company earned $3.04 earnings per share. Analysts predict that Gartner, Inc. will post 12.5 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company cut their price target on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a report on Friday, January 10th. The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. Robert W. Baird lowered their price target on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $525.00 to $600.00 in a report on Friday, January 10th. Finally, UBS Group lowered their target price on shares of Gartner from $565.00 to $500.00 and set a “buy” rating on the stock in a research note on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $536.63.

Gartner Company 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.