Norden Group LLC Reduces Stock Position in Gartner, Inc. (NYSE:IT)

Norden Group LLC trimmed its holdings in Gartner, Inc. (NYSE:IT) by 6.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,669 shares of the information technology services provider’s stock after selling 193 shares during the quarter. Norden Group LLC’s holdings in Gartner were worth $1,204,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IT. Gilbert & Cook Inc. grew its position in shares of Gartner by 10.6% in the fourth quarter. Gilbert & Cook Inc. now owns 1,430 shares of the information technology services provider’s stock valued at $645,000 after purchasing an additional 137 shares in the last quarter. Stonebrook Private Inc. acquired a new stake in shares of Gartner in the 4th quarter worth $223,000. Truist Financial Corp boosted its position in shares of Gartner by 4.3% during the 4th quarter. Truist Financial Corp now owns 22,871 shares of the information technology services provider’s stock valued at $10,317,000 after acquiring an additional 945 shares during the last quarter. Motley Fool Asset Management LLC grew its holdings in shares of Gartner by 42.2% in the fourth quarter. Motley Fool Asset Management LLC now owns 2,360 shares of the information technology services provider’s stock valued at $1,065,000 after purchasing an additional 700 shares during the period. Finally, Stevens Capital Management LP acquired a new stake in Gartner during the fourth quarter worth about $530,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Gartner Stock Down 7.2 %

IT stock traded down $32.51 during midday trading on Tuesday, reaching $416.14. 766,486 shares of the company were exchanged, compared to its average volume of 393,923. The company has a market cap of $32.45 billion, a price-to-earnings ratio of 38.08, a price-to-earnings-growth ratio of 4.12 and a beta of 1.29. The company has a debt-to-equity ratio of 3.60, a quick ratio of 0.91 and a current ratio of 0.91. Gartner, Inc. has a 1-year low of $295.43 and a 1-year high of $486.54. The stock’s 50-day simple moving average is $464.87 and its 200 day simple moving average is $439.64.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.40. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Gartner had a net margin of 14.94% and a return on equity of 156.35%. Gartner’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.88 earnings per share. On average, equities analysts forecast that Gartner, Inc. will post 11.29 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on IT shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Gartner in a report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price objective on the stock. Morgan Stanley upped their target price on shares of Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. BMO Capital Markets increased their price objective on shares of Gartner from $444.00 to $450.00 and gave the company a “market perform” rating in a research report on Thursday, February 8th. Finally, UBS Group upgraded shares of Gartner from a “neutral” rating to a “buy” rating and raised their price objective for the company from $484.00 to $550.00 in a report on Thursday, April 11th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $477.60.

Insider Activity at Gartner

In other Gartner news, EVP Valentin Sribar sold 682 shares of Gartner stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $453.00, for a total transaction of $308,946.00. Following the transaction, the executive vice president now owns 12,269 shares of the company’s stock, valued at $5,557,857. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Valentin Sribar sold 682 shares of Gartner stock in a transaction 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 directly 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 accessible through this link. Also, EVP Yvonne Genovese sold 560 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $457.37, for a total transaction of $256,127.20. Following the transaction, the executive vice president now owns 2,398 shares of the company’s stock, valued at approximately $1,096,773.26. The disclosure for this sale can be found here. Insiders sold a total of 22,952 shares of company stock valued at $10,598,070 in the last three months. 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.