Handelsbanken Fonder AB Buys 5,058 Shares of Gartner, Inc. (NYSE:IT)

Handelsbanken Fonder AB grew its stake in shares of Gartner, Inc. (NYSE:IT) by 37.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,534 shares of the information technology services provider’s stock after buying an additional 5,058 shares during the quarter. Handelsbanken Fonder AB’s holdings in Gartner were worth $8,361,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. BKM Wealth Management LLC bought a new stake in shares of Gartner in the fourth quarter worth $26,000. AdvisorNet Financial Inc grew its stake in shares of Gartner by 59.5% in the fourth quarter. AdvisorNet Financial Inc now owns 67 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 25 shares during the last quarter. Harbor Investment Advisory LLC boosted its position in Gartner by 7,500.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 76 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 75 shares during the last quarter. OFI Invest Asset Management bought a new stake in Gartner during the third quarter valued at $25,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in shares of Gartner during the fourth quarter valued at about $37,000. Institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on IT shares. UBS Group upgraded shares of Gartner from a “neutral” rating to a “buy” rating and upped their price objective for the company from $484.00 to $550.00 in a report on Thursday, April 11th. Morgan Stanley upped their price objective on shares of Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Deutsche Bank Aktiengesellschaft started coverage on shares of Gartner in a report on Tuesday, April 16th. They set a “hold” rating and a $507.00 price objective on the stock. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a report on Saturday, February 10th. Finally, BMO Capital Markets upped their target price on shares of Gartner from $444.00 to $450.00 and gave the stock a “market perform” rating in a report on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $477.60.

Gartner Stock Up 0.2 %

IT opened at $451.06 on Thursday. The company has a fifty day moving average price of $464.99 and a 200-day moving average price of $437.07. The firm has a market capitalization of $35.17 billion, a P/E ratio of 40.78, a price-to-earnings-growth ratio of 4.13 and a beta of 1.29. The company has a debt-to-equity ratio of 3.60, a current ratio of 0.91 and a quick ratio of 0.91. Gartner, Inc. has a one year low of $292.60 and a one year high of $486.54.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, February 6th. The information technology services provider reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.21. Gartner had a net margin of 14.94% and a return on equity of 156.35%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the previous year, the business earned $3.70 EPS. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities research analysts expect that Gartner, Inc. will post 11.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Gartner news, EVP Yvonne Genovese sold 560 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $457.37, for a total value of $256,127.20. Following the completion of the sale, the executive vice president now directly owns 2,398 shares of the company’s stock, valued at $1,096,773.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director James C. Smith sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $455.00, for a total transaction of $2,275,000.00. Following the transaction, the director now owns 638,235 shares in the company, valued at $290,396,925. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Yvonne Genovese sold 560 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $457.37, for a total transaction of $256,127.20. Following the transaction, the executive vice president now owns 2,398 shares in the company, valued at approximately $1,096,773.26. The disclosure for this sale can be found here. Insiders sold 22,952 shares of company stock valued at $10,598,070 over the last three months. Insiders own 3.60% of the company’s stock.

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.