Gartner, Inc. (NYSE:IT) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Gartner, Inc. (NYSE:IT) by 3.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,664 shares of the information technology services provider’s stock after purchasing an additional 280 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Gartner were worth $3,457,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. OFI Invest Asset Management purchased a new position in shares of Gartner in the 3rd quarter valued at about $25,000. BKM Wealth Management LLC purchased a new stake in Gartner during the fourth quarter valued at about $26,000. VisionPoint Advisory Group LLC lifted its position in shares of Gartner by 254.2% in the third quarter. VisionPoint Advisory Group LLC now owns 85 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 61 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in Gartner by 357.9% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 87 shares of the information technology services provider’s stock worth $30,000 after buying an additional 68 shares during the last quarter. Finally, AdvisorNet Financial Inc grew its holdings in Gartner by 59.5% during the fourth quarter. AdvisorNet Financial Inc now owns 67 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 25 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Activity

In related news, Director James C. Smith sold 10,000 shares of Gartner stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $459.68, for a total transaction of $4,596,800.00. Following the transaction, the director now owns 623,235 shares of the company’s stock, valued at $286,488,664.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Valentin Sribar sold 682 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $453.00, for a total transaction of $308,946.00. Following the sale, the executive vice president now directly owns 12,269 shares in the company, valued at approximately $5,557,857. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James C. Smith sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $459.68, for a total value of $4,596,800.00. Following the completion of the transaction, the director now owns 623,235 shares in the company, valued at $286,488,664.80. The disclosure for this sale can be found here. Insiders sold a total of 22,952 shares of company stock worth $10,598,070 over the last quarter. 3.60% of the stock is currently owned by corporate insiders.

Gartner Stock Performance

Shares of IT stock opened at $450.25 on Wednesday. The business’s 50-day moving average price is $464.91 and its 200-day moving average price is $436.38. Gartner, Inc. has a 12 month low of $292.60 and a 12 month high of $486.54. The firm has a market capitalization of $35.11 billion, a price-to-earnings ratio of 40.71, a PEG ratio of 4.05 and a beta of 1.29. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.60.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.21. Gartner had a return on equity of 156.35% and a net margin of 14.94%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period last year, the company earned $3.70 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year. Equities research analysts forecast that Gartner, Inc. will post 11.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. UBS Group upgraded shares of Gartner from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $484.00 to $550.00 in a research note on Thursday, April 11th. Morgan Stanley boosted their target price on shares of Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a report on Saturday, February 10th. BMO Capital Markets lifted their price target on Gartner from $444.00 to $450.00 and gave the company a “market perform” rating in a report on Thursday, February 8th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Gartner in a report on Tuesday, April 16th. They set a “hold” rating and a $507.00 price objective for the company. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $477.60.

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.