GAM Holding AG Cuts Stock Position in Gartner, Inc. (NYSE:IT)

GAM Holding AG lessened its position in shares of Gartner, Inc. (NYSE:IT) by 5.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,057 shares of the information technology services provider’s stock after selling 312 shares during the quarter. GAM Holding AG’s holdings in Gartner were worth $2,450,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp increased its position in shares of Gartner by 1.1% during the third 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 grew its stake in Gartner by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,018,358 shares of the information technology services provider’s stock worth $1,020,378,000 after buying an additional 36,698 shares during the last quarter. Principal Financial Group Inc. increased its position in Gartner by 0.6% during the 4th quarter. Principal Financial Group Inc. now owns 2,012,799 shares of the information technology services provider’s stock valued at $975,141,000 after buying an additional 11,657 shares in the last quarter. JPMorgan Chase & Co. increased its position in Gartner by 7.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock valued at $525,272,000 after buying an additional 70,236 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in Gartner by 3.3% in the third quarter. Franklin Resources Inc. now owns 801,589 shares of the information technology services provider’s stock valued at $422,678,000 after buying an additional 25,315 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Stock Down 0.4 %

IT opened at $515.34 on Tuesday. The company has a fifty day moving average of $510.10 and a two-hundred day moving average of $508.59. The stock has a market capitalization of $39.75 billion, a price-to-earnings ratio of 32.15, a PEG ratio of 3.50 and a beta of 1.34. Gartner, Inc. has a fifty-two week low of $411.15 and a fifty-two week high of $584.01. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, beating the consensus estimate of $3.22 by $2.23. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.69 billion. Gartner had a return on equity of 136.32% and a net margin of 20.00%. Gartner’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.04 EPS. On average, research analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on IT. Robert W. Baird upped their price objective on shares of Gartner from $579.00 to $605.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $525.00 to $600.00 in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft raised their target price on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday, February 12th. Finally, Morgan Stanley lowered their price target on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $552.63.

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 sale, the senior vice president now directly owns 3,259 shares in the company, valued at approximately $1,728,932.09. The trade was a 2.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James C. Smith sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $524.02, for a total value of $2,620,100.00. Following the sale, the director now owns 509,457 shares of the company’s stock, valued at approximately $266,965,657.14. This trade represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,690 shares of company stock worth $2,981,025 over the last three months. 3.60% of the stock is currently owned by corporate insiders.

Gartner 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.