Handelsbanken Fonder AB lifted its position in shares of Gartner, Inc. (NYSE:IT – Free Report) by 6.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,562 shares of the information technology services provider’s stock after buying an additional 844 shares during the period. Handelsbanken Fonder AB’s holdings in Gartner were worth $4,744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Gartner by 1.1% during the first quarter. Vanguard Group Inc. now owns 9,198,161 shares of the information technology services provider’s stock worth $2,736,085,000 after buying an additional 102,709 shares during the period. Morgan Stanley increased its holdings in Gartner by 271.1% in the 4th quarter. Morgan Stanley now owns 2,151,011 shares of the information technology services provider’s stock valued at $723,041,000 after purchasing an additional 1,571,413 shares during the last quarter. Wellington Management Group LLP raised its position in Gartner by 20.3% in the first quarter. Wellington Management Group LLP now owns 2,029,738 shares of the information technology services provider’s stock valued at $603,766,000 after purchasing an additional 342,228 shares during the period. Geode Capital Management LLC lifted its stake in Gartner by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 1,579,482 shares of the information technology services provider’s stock worth $529,943,000 after purchasing an additional 34,478 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Gartner by 7.3% during the first quarter. Invesco Ltd. now owns 1,313,140 shares of the information technology services provider’s stock worth $390,606,000 after buying an additional 89,707 shares during the period. Hedge funds and other institutional investors own 92.41% of the company’s stock.
Insider Activity
In other Gartner news, EVP Alwyn Dawkins sold 887 shares of Gartner stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $356.78, for a total transaction of $316,463.86. Following the transaction, the executive vice president now owns 45,914 shares of the company’s stock, valued at $16,381,196.92. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Alwyn Dawkins sold 887 shares of Gartner stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $356.78, for a total value of $316,463.86. Following the transaction, the executive vice president now directly owns 45,914 shares of the company’s stock, valued at approximately $16,381,196.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Valentin Sribar sold 420 shares of the stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $353.80, for a total transaction of $148,596.00. Following the sale, the executive vice president now owns 11,787 shares of the company’s stock, valued at approximately $4,170,240.60. The disclosure for this sale can be found here. In the last three months, insiders sold 23,115 shares of company stock valued at $7,815,611. Insiders own 3.90% of the company’s stock.
Gartner Stock Performance
Gartner (NYSE:IT – Get Free Report) last posted its earnings results on Tuesday, May 2nd. The information technology services provider reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.84. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.37 billion. Gartner had a net margin of 16.56% and a return on equity of 772.55%. The company’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm posted $2.33 EPS. Research analysts forecast that Gartner, Inc. will post 10.05 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the company. Morgan Stanley restated an “equal weight” rating and set a $366.00 target price on shares of Gartner in a report on Tuesday. BMO Capital Markets cut their target price on shares of Gartner from $357.00 to $337.00 and set a “market perform” rating on the stock in a research note on Friday, April 21st. StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a research report on Friday, July 7th. Wells Fargo & Company cut their price objective on Gartner from $387.00 to $380.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 19th. Finally, UBS Group began coverage on Gartner in a report on Wednesday, May 31st. They issued a “neutral” rating and a $368.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Gartner presently has a consensus rating of “Hold” and a consensus target price of $359.13.
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.
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