Swedbank AB Decreases Stake in Gartner, Inc. (NYSE:IT)

Swedbank AB cut its holdings in shares of Gartner, Inc. (NYSE:IT) by 7.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,198 shares of the information technology services provider’s stock after selling 4,406 shares during the quarter. Swedbank AB’s holdings in Gartner were worth $27,711,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in Gartner by 1.1% in the 3rd quarter. State Street Corp now owns 3,257,355 shares of the information technology services provider’s stock worth $1,650,697,000 after purchasing an additional 36,258 shares in the last quarter. Geode Capital Management LLC boosted its stake in Gartner by 1.9% during the third quarter. Geode Capital Management LLC now owns 2,018,358 shares of the information technology services provider’s stock valued at $1,020,378,000 after buying an additional 36,698 shares during the period. Principal Financial Group Inc. grew its position in Gartner by 5.5% during the third quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock worth $1,014,099,000 after buying an additional 103,814 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Gartner by 7.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock worth $525,272,000 after acquiring an additional 70,236 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Gartner by 3.3% in the 3rd quarter. Franklin Resources Inc. now owns 801,589 shares of the information technology services provider’s stock valued at $422,678,000 after acquiring an additional 25,315 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Gartner Trading Up 2.0 %

NYSE IT opened at $548.69 on Friday. The firm has a market cap of $42.32 billion, a PE ratio of 40.46, a price-to-earnings-growth ratio of 2.92 and a beta of 1.33. Gartner, Inc. has a 1-year low of $411.15 and a 1-year high of $559.00. The stock has a 50-day moving average of $507.44 and a 200-day moving average of $503.18. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the firm posted $2.56 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Gartner, Inc. will post 11.87 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a report on Monday. Robert W. Baird increased their price target on shares of Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Barclays raised shares of 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. Morgan Stanley reduced their target price on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Finally, Wells Fargo & Company dropped their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $550.75.

Insider Buying and Selling at Gartner

In related news, EVP Claire Herkes sold 411 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $521.24, for a total transaction of $214,229.64. Following the completion of the transaction, the executive vice president now owns 1,494 shares in the company, valued at $778,732.56. This represents a 21.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William James Wartinbee III sold 189 shares of Gartner stock in a transaction on Friday, December 6th. The shares were sold at an average price of $523.54, for a total transaction of $98,949.06. Following the completion of the sale, the executive vice president now owns 7,311 shares in the company, valued at approximately $3,827,600.94. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,583 shares of company stock worth $19,241,974. 3.60% of the stock is currently owned by company insiders.

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.