Zurcher Kantonalbank Zurich Cantonalbank Purchases 24,912 Shares of Gartner, Inc. (NYSE:IT)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Gartner, Inc. (NYSE:IT) by 185.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 38,369 shares of the information technology services provider’s stock after buying an additional 24,912 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Gartner were worth $17,309,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Morgan Stanley raised its holdings in Gartner by 271.1% in the fourth quarter. Morgan Stanley now owns 2,151,011 shares of the information technology services provider’s stock worth $723,041,000 after purchasing an additional 1,571,413 shares in the last quarter. Norges Bank bought a new position in Gartner in the fourth quarter worth about $263,599,000. Principal Financial Group Inc. raised its holdings in Gartner by 30.3% in the third quarter. Principal Financial Group Inc. now owns 1,565,046 shares of the information technology services provider’s stock worth $537,766,000 after purchasing an additional 364,128 shares in the last quarter. Wellington Management Group LLP raised its holdings in Gartner by 20.3% in the first quarter. Wellington Management Group LLP now owns 2,029,738 shares of the information technology services provider’s stock worth $603,766,000 after purchasing an additional 342,228 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Gartner by 888.4% in the third quarter. American Century Companies Inc. now owns 300,106 shares of the information technology services provider’s stock worth $103,119,000 after purchasing an additional 269,744 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Valentin Sribar sold 682 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $453.00, for a total value of $308,946.00. Following the transaction, the executive vice president now owns 12,269 shares in the company, valued at approximately $5,557,857. The sale was disclosed in a filing with the SEC, which is available through this link. In other Gartner news, EVP Valentin Sribar sold 682 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $453.00, for a total value of $308,946.00. Following the sale, the executive vice president now owns 12,269 shares in the company, valued at approximately $5,557,857. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James C. Smith sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $455.00, for a total value of $2,275,000.00. Following the completion of the sale, the director now owns 638,235 shares in the company, valued at approximately $290,396,925. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,952 shares of company stock worth $10,598,070. 3.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on IT. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. UBS Group upgraded Gartner from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $484.00 to $550.00 in a research note on Thursday, April 11th. BMO Capital Markets boosted their price target on Gartner from $444.00 to $450.00 and gave the stock a “market perform” rating in a research note on Thursday, February 8th. Morgan Stanley boosted their price target on Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Gartner in a research note on Tuesday. They set a “hold” rating and a $507.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $477.60.

Gartner Price Performance

Shares of NYSE:IT opened at $449.61 on Friday. Gartner, Inc. has a twelve month low of $292.60 and a twelve month high of $486.54. The company’s 50 day moving average is $465.53 and its 200 day moving average is $433.82. 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 company has a market cap of $35.06 billion, a PE ratio of 40.65, a price-to-earnings-growth ratio of 4.10 and a beta of 1.29.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share for the quarter, topping 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 company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the company earned $3.70 EPS. Gartner’s quarterly revenue was up 6.3% on a year-over-year basis. On average, sell-side analysts forecast that Gartner, Inc. will post 11.36 EPS for the current year.

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.