Norges Bank Invests $460.54 Million in Gartner, Inc. (NYSE:IT)

Norges Bank bought a new stake in Gartner, Inc. (NYSE:IT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 950,607 shares of the information technology services provider’s stock, valued at approximately $460,541,000. Norges Bank owned approximately 1.23% of Gartner at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Kestra Investment Management LLC purchased a new position in shares of Gartner during the 4th quarter valued at about $29,000. SBI Securities Co. Ltd. purchased a new position in shares of Gartner during the fourth quarter worth approximately $49,000. True Wealth Design LLC boosted its stake in shares of Gartner by 2,350.0% in the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock valued at $50,000 after purchasing an additional 94 shares in the last quarter. Promus Capital LLC bought a new position in shares of Gartner during the 4th quarter valued at $57,000. Finally, Global Retirement Partners LLC raised its position in Gartner by 14.0% in the 4th quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider’s stock worth $134,000 after purchasing an additional 34 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Gartner Trading Down 1.5 %

NYSE:IT opened at $418.57 on Friday. Gartner, Inc. has a 12 month low of $409.50 and a 12 month high of $584.01. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The company has a 50-day moving average price of $494.18 and a 200-day moving average price of $505.53. The stock has a market cap of $32.15 billion, a price-to-earnings ratio of 26.11, a P/E/G ratio of 3.30 and a beta of 1.29.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, beating the consensus estimate of $3.22 by $2.23. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the previous year, the firm posted $3.04 EPS. The business’s revenue was up 8.1% on a year-over-year basis. Equities analysts predict that Gartner, Inc. will post 12.5 EPS for the current year.

Insider Activity at Gartner

In other news, Director Eileen Serra sold 1,200 shares of Gartner stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the transaction, the director now directly owns 1,627 shares in the company, valued at approximately $796,855.79. This trade represents a 42.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John J. Rinello sold 90 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $530.51, for a total value of $47,745.90. Following the completion of the sale, the senior vice president now owns 3,259 shares in the company, valued at $1,728,932.09. The trade was a 2.69 % decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on IT. Robert W. Baird cut their price target on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Wells Fargo & Company reduced their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research report on Friday, January 10th. Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $525.00 to $600.00 in a research report on Friday, January 10th. The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. Finally, UBS Group decreased their target price on shares of Gartner from $565.00 to $500.00 and set a “buy” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $536.63.

About Gartner

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.