Vontobel Holding Ltd. Cuts Stock Holdings in Gartner, Inc. (NYSE:IT)

Vontobel Holding Ltd. reduced its stake in Gartner, Inc. (NYSE:IT) by 0.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 10,092 shares of the information technology services provider’s stock after selling 42 shares during the quarter. Vontobel Holding Ltd.’s holdings in Gartner were worth $4,889,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Creative Planning raised its stake in Gartner by 13.9% in the 3rd quarter. Creative Planning now owns 10,735 shares of the information technology services provider’s stock valued at $5,440,000 after acquiring an additional 1,307 shares during the period. Bleakley Financial Group LLC raised its stake in Gartner by 6.1% in the third quarter. Bleakley Financial Group LLC now owns 3,550 shares of the information technology services provider’s stock valued at $1,799,000 after purchasing an additional 203 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Gartner by 5.6% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,426 shares of the information technology services provider’s stock valued at $4,270,000 after purchasing an additional 445 shares in the last quarter. Aaron Wealth Advisors LLC purchased a new stake in Gartner in the third quarter valued at approximately $292,000. Finally, Trust Point Inc. raised its stake in shares of Gartner by 3.2% during the third quarter. Trust Point Inc. now owns 746 shares of the information technology services provider’s stock worth $378,000 after acquiring an additional 23 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on IT. Wells Fargo & Company decreased their price target on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. Morgan Stanley cut 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. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a report on Wednesday. Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $525.00 to $600.00 in a research report on Friday, January 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $552.63.

Gartner Price Performance

Shares of NYSE:IT opened at $515.34 on Friday. The business has a 50-day simple moving average of $510.09 and a two-hundred day simple moving average of $508.39. The firm has a market cap of $39.75 billion, a price-to-earnings ratio of 32.15, a price-to-earnings-growth ratio of 3.50 and a beta of 1.34. 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, Inc. has a fifty-two week low of $411.15 and a fifty-two week high of $584.01.

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

Insiders Place Their Bets

In other news, SVP John J. Rinello sold 90 shares of the company’s 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 transaction, the senior vice president now owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This represents a 2.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Claire Herkes sold 411 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $521.24, for a total value of $214,229.64. Following the completion of the transaction, the executive vice president now directly owns 1,494 shares of the company’s stock, valued at approximately $778,732.56. This trade represents a 21.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,690 shares of company stock worth $2,981,025 over the last quarter. 3.60% of the stock is currently owned by corporate 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.