Gartner, Inc. (NYSE:IT) Shares Bought by Nordea Investment Management AB

Posted by on May 13th, 2023

Nordea Investment Management AB boosted its stake in shares of Gartner, Inc. (NYSE:IT – Get Rating) by 9.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 5,798 shares of the information technology services provider’s stock after acquiring an additional 496 shares during the period. Nordea Investment Management AB’s holdings in Gartner were worth $1,940,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Moors & Cabot Inc. raised its position in shares of Gartner by 4.1% in the fourth quarter. Moors & Cabot Inc. now owns 768 shares of the information technology services provider’s stock valued at $257,000 after buying an additional 30 shares during the last quarter. Diversified Trust Co grew its holdings in shares of Gartner by 1.8% in the fourth quarter. Diversified Trust Co now owns 1,913 shares of the information technology services provider’s stock valued at $643,000 after purchasing an additional 34 shares during the period. CVA Family Office LLC grew its holdings in shares of Gartner by 24.1% in the third quarter. CVA Family Office LLC now owns 180 shares of the information technology services provider’s stock valued at $50,000 after purchasing an additional 35 shares during the period. Commonwealth Equity Services LLC grew its holdings in shares of Gartner by 0.8% in the third quarter. Commonwealth Equity Services LLC now owns 4,634 shares of the information technology services provider’s stock valued at $1,282,000 after purchasing an additional 35 shares during the period. Finally, CWM LLC grew its holdings in shares of Gartner by 1.7% in the fourth quarter. CWM LLC now owns 2,128 shares of the information technology services provider’s stock valued at $715,000 after purchasing an additional 36 shares during the period. 91.86% of the stock is currently owned by institutional investors and hedge funds.

Gartner Stock Up 1.6 %

Shares of IT opened at $310.63 on Friday. The stock has a market capitalization of $24.56 billion, a PE ratio of 26.80, a P/E/G ratio of 3.95 and a beta of 1.28. Gartner, Inc. has a 1 year low of $221.39 and a 1 year high of $358.25. The company has a debt-to-equity ratio of 5.19, a quick ratio of 0.84 and a current ratio of 0.84. The company’s 50-day simple moving average is $312.47 and its 200-day simple moving average is $327.45.

Gartner (NYSE:IT – Get Rating) last issued its quarterly earnings results on Tuesday, May 2nd. The information technology services provider reported $2.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.84. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Gartner had a net margin of 16.56% and a return on equity of 772.55%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.33 earnings per share. Analysts forecast that Gartner, Inc. will post 10.19 earnings per share for the current fiscal year.

Insider Activity at Gartner

In related news, EVP Joseph P. Beck sold 3,471 shares of the firm’s stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $350.16, for a total value of $1,215,405.36. Following the sale, the executive vice president now owns 9,999 shares of the company’s stock, valued at $3,501,249.84. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Gartner news, CEO Eugene A. Hall sold 5,604 shares of the firm’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $350.83, for a total transaction of $1,966,051.32. Following the sale, the chief executive officer now owns 1,145,665 shares of the company’s stock, valued at $401,933,651.95. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Joseph P. Beck sold 3,471 shares of the firm’s stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $350.16, for a total transaction of $1,215,405.36. Following the sale, the executive vice president now directly owns 9,999 shares in the company, valued at approximately $3,501,249.84. The disclosure for this sale can be found here. Insiders have sold a total of 24,941 shares of company stock valued at $8,611,320 over the last 90 days. 3.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

IT has been the subject of a number of analyst reports. Morgan Stanley upped their price objective on shares of Gartner from $358.00 to $366.00 and gave the company an “equal weight” rating in a report on Wednesday, February 8th. Wells Fargo & Company dropped their price objective on shares of Gartner from $387.00 to $380.00 and set an “overweight” rating for the company in a report on Wednesday, April 19th. StockNews.com began coverage on shares of Gartner in a research note on Thursday, March 16th. They set a “buy” rating for the company. Finally, BMO Capital Markets lowered their target price on shares of Gartner from $357.00 to $337.00 and set a “market perform” rating for the company in a research note on Friday, April 21st. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Gartner presently has an average rating of “Hold” and an average target price of $357.86.

Gartner Profile

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Gartner, Inc is a research and advisory company, which equips business leaders with insights, advice, and tools that help build organizations. It operates through the following segments: Research, Consulting, and Conferences. The Research segment provides executives with objective insights and advice through reports, briefings, proprietary tools, access to the firm?s research experts, peer networking services, and membership programs.

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Institutional Ownership by Quarter for Gartner (NYSE:IT)

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