Norden Group LLC Reduces Stake in Gartner, Inc. (NYSE:IT)

Norden Group LLC decreased its stake in shares of Gartner, Inc. (NYSE:IT) by 6.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,669 shares of the information technology services provider’s stock after selling 193 shares during the period. Norden Group LLC’s holdings in Gartner were worth $1,204,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in IT. Private Trust Co. NA increased its stake in Gartner by 32.9% in the 3rd quarter. Private Trust Co. NA now owns 202 shares of the information technology services provider’s stock worth $69,000 after acquiring an additional 50 shares during the last quarter. Valeo Financial Advisors LLC lifted its holdings in Gartner by 12.2% in the 3rd quarter. Valeo Financial Advisors LLC now owns 816 shares of the information technology services provider’s stock worth $280,000 after buying an additional 89 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of Gartner by 32.3% during the third quarter. Commonwealth Equity Services LLC now owns 5,371 shares of the information technology services provider’s stock valued at $1,846,000 after purchasing an additional 1,310 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in Gartner by 115.5% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 5,601 shares of the information technology services provider’s stock worth $1,925,000 after purchasing an additional 3,002 shares during the period. Finally, Kingswood Wealth Advisors LLC purchased a new stake in Gartner in the third quarter worth $741,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Price Performance

Shares of NYSE:IT traded down $32.51 during trading on Tuesday, hitting $416.14. 766,486 shares of the company’s stock were exchanged, compared to its average volume of 393,923. 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 52-week low of $295.43 and a 52-week high of $486.54. The business’s 50-day simple moving average is $464.87 and its 200 day simple moving average is $439.64. The company has a market cap of $32.45 billion, a price-to-earnings ratio of 38.08, a PEG ratio of 4.12 and a beta of 1.29.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.40. Gartner had a return on equity of 156.35% and a net margin of 14.94%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period in the prior year, the company earned $2.88 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. As a group, equities analysts predict that Gartner, Inc. will post 11.29 EPS for the current year.

Analysts Set New Price Targets

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

Insider Activity at Gartner

In other news, EVP Valentin Sribar sold 682 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $453.00, for a total value of $308,946.00. Following the completion of the sale, the executive vice president now directly owns 12,269 shares of the company’s stock, valued at approximately $5,557,857. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Valentin Sribar sold 682 shares of Gartner stock in a transaction on Friday, February 16th. The stock was sold at an average price of $453.00, for a total value of $308,946.00. Following the transaction, the executive vice president now directly owns 12,269 shares in the company, valued at approximately $5,557,857. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Claire Herkes sold 1,460 shares of Gartner stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $475.76, for a total value of $694,609.60. Following the completion of the transaction, the executive vice president now owns 2,842 shares in the company, valued at $1,352,109.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,952 shares of company stock valued at $10,598,070. 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.