DnB Asset Management AS Buys 834 Shares of Gartner, Inc. (NYSE:IT)

DnB Asset Management AS raised its stake in Gartner, Inc. (NYSE:IT) by 6.5% during the fourth quarter, HoldingsChannel.com reports. The fund 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 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Czech National Bank boosted its position in shares of Gartner by 6.5% during the 4th quarter. Czech National Bank now owns 16,725 shares of the information technology services provider’s stock valued at $8,103,000 after acquiring an additional 1,028 shares during the last quarter. Entropy Technologies LP bought a new position in Gartner during the fourth quarter valued at $366,000. D.A. Davidson & CO. grew its stake in shares of Gartner by 2.6% in the 4th quarter. D.A. Davidson & CO. now owns 1,137 shares of the information technology services provider’s stock worth $551,000 after buying an additional 29 shares in the last quarter. Conestoga Capital Advisors LLC grew its stake in shares of Gartner by 1.5% in the 4th quarter. Conestoga Capital Advisors LLC now owns 31,626 shares of the information technology services provider’s stock worth $15,322,000 after buying an additional 480 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Gartner by 8.6% in the 3rd quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock worth $84,520,000 after buying an additional 13,205 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

IT has been the subject of a number of analyst reports. Morgan Stanley lowered 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. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $525.00 to $600.00 in a report on Friday, January 10th. Robert W. Baird dropped their price objective on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Finally, UBS Group reduced 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 research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, Gartner presently has an average rating of “Hold” and a consensus price target of $536.63.

Insider Activity

In related news, SVP John J. Rinello sold 90 shares of Gartner stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $530.51, for a total value of $47,745.90. Following the completion of the sale, the senior vice president now directly owns 3,259 shares in the company, valued at $1,728,932.09. The trade was a 2.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Eileen Serra sold 1,200 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the transaction, the director now owns 1,627 shares in the company, valued at approximately $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. Insiders own 3.60% of the company’s stock.

Gartner Stock Down 1.5 %

NYSE:IT opened at $418.57 on Monday. The company has a market cap of $32.15 billion, a price-to-earnings ratio of 26.11, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29. Gartner, Inc. has a twelve month low of $409.50 and a twelve month high of $584.01. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The stock has a fifty day simple moving average of $494.18 and a 200-day simple moving average of $505.61.

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

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.