Handelsbanken Fonder AB Boosts Stake in Gartner, Inc. (NYSE:IT)

Handelsbanken Fonder AB grew its position in shares of Gartner, Inc. (NYSE:IT) by 16.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 20,652 shares of the information technology services provider’s stock after buying an additional 2,960 shares during the quarter. Handelsbanken Fonder AB’s holdings in Gartner were worth $10,005,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IT. Sequoia Financial Advisors LLC grew its stake in Gartner by 29.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,701 shares of the information technology services provider’s stock valued at $862,000 after purchasing an additional 387 shares during the period. Eastern Bank purchased a new position in shares of Gartner in the 3rd quarter worth about $26,000. Private Advisor Group LLC grew its position in Gartner by 71.3% during the third quarter. Private Advisor Group LLC now owns 901 shares of the information technology services provider’s stock valued at $456,000 after buying an additional 375 shares during the period. International Assets Investment Management LLC increased its holdings in Gartner by 65,778.0% during the third quarter. International Assets Investment Management LLC now owns 32,939 shares of the information technology services provider’s stock worth $16,692,000 after buying an additional 32,889 shares during the last quarter. Finally, CENTRAL TRUST Co raised its position in Gartner by 11.3% in the third quarter. CENTRAL TRUST Co now owns 443 shares of the information technology services provider’s stock worth $224,000 after acquiring an additional 45 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on IT shares. The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. Wells Fargo & Company reduced their price objective on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a report on Friday, January 10th. Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $525.00 to $600.00 in a research note on Friday, January 10th. Morgan Stanley dropped their price target on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Finally, StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $552.63.

Gartner Price Performance

Shares of NYSE IT opened at $487.44 on Friday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. Gartner, Inc. has a fifty-two week low of $411.15 and a fifty-two week high of $584.01. The stock has a market cap of $37.44 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 3.30 and a beta of 1.34. The stock has a fifty day moving average of $509.42 and a 200-day moving average of $509.30.

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

Insider Activity

In related news, SVP John J. Rinello sold 90 shares of the stock in a transaction on 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 owns 3,259 shares in the company, valued at approximately $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP William James Wartinbee III sold 189 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $523.54, for a total value of $98,949.06. Following the transaction, the executive vice president now owns 7,311 shares of the company’s stock, valued at approximately $3,827,600.94. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,690 shares of company stock worth $2,981,025. 3.60% of the stock is owned by company insiders.

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.