Allianz Asset Management GmbH Has $28.77 Million Position in Gartner, Inc. (NYSE:IT)

Allianz Asset Management GmbH raised its stake in Gartner, Inc. (NYSE:IT) by 35.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,385 shares of the information technology services provider’s stock after acquiring an additional 15,573 shares during the period. Allianz Asset Management GmbH’s holdings in Gartner were worth $28,770,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Czech National Bank raised its holdings in Gartner by 6.5% in the 4th quarter. Czech National Bank now owns 16,725 shares of the information technology services provider’s stock valued at $8,103,000 after acquiring an additional 1,028 shares in the last quarter. Assetmark Inc. increased its stake in shares of Gartner by 70.0% in the 3rd quarter. Assetmark Inc. now owns 5,144 shares of the information technology services provider’s stock valued at $2,607,000 after purchasing an additional 2,118 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Gartner in the 4th quarter valued at $366,000. ING Groep NV increased its stake in shares of Gartner by 38.4% in the 3rd quarter. ING Groep NV now owns 10,306 shares of the information technology services provider’s stock valued at $5,223,000 after purchasing an additional 2,860 shares during the last quarter. Finally, Conestoga Capital Advisors LLC increased its stake in shares of Gartner by 1.5% in the 4th quarter. Conestoga Capital Advisors LLC now owns 31,626 shares of the information technology services provider’s stock valued at $15,322,000 after purchasing an additional 480 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Robert W. Baird lifted their price target on Gartner from $579.00 to $605.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Wells Fargo & Company reduced their price objective on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research report on Friday, January 10th. The Goldman Sachs Group restated a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. Finally, StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $552.63.

Gartner Trading Down 3.1 %

Shares of IT stock opened at $487.44 on Monday. The stock has a market cap of $37.44 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 3.30 and a beta of 1.34. The stock has a 50-day moving average of $509.42 and a 200-day moving average of $509.60. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. Gartner, Inc. has a 1-year low of $411.15 and a 1-year high of $584.01.

Gartner (NYSE:IT) last issued 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 company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.04 earnings per share. On average, equities research analysts forecast 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 company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the sale, the senior vice president now owns 3,259 shares in the company, valued at $1,728,932.09. This represents a 2.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Claire Herkes sold 411 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total value of $214,229.64. Following the sale, the executive vice president now owns 1,494 shares in the company, valued at approximately $778,732.56. The trade was a 21.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,690 shares of company stock valued at $2,981,025. Company insiders own 3.60% of the company’s stock.

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.