Swedbank AB Sells 249 Shares of Gartner, Inc. (NYSE:IT)

Swedbank AB decreased its holdings in shares of Gartner, Inc. (NYSE:IT) by 0.4% during the third quarter, HoldingsChannel reports. The fund owned 61,604 shares of the information technology services provider’s stock after selling 249 shares during the quarter. Swedbank AB’s holdings in Gartner were worth $31,218,000 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 stock. Eastern Bank bought a new position in shares of Gartner in the third quarter valued at approximately $26,000. Crewe Advisors LLC grew its position in shares of Gartner by 223.3% during the 2nd quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after purchasing an additional 67 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Gartner in the third quarter valued at $44,000. Fortitude Family Office LLC raised its position in Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after purchasing an additional 20 shares in the last quarter. Finally, Asset Dedication LLC lifted its position in Gartner by 46.5% in the 3rd quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock worth $75,000 after buying an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Price Performance

IT opened at $518.76 on Tuesday. The firm has a market cap of $40.01 billion, a PE ratio of 38.26, a P/E/G ratio of 3.25 and a beta of 1.32. The stock has a 50-day moving average price of $520.07 and a 200-day moving average price of $481.44. Gartner, Inc. has a 1 year low of $411.15 and a 1 year high of $559.00. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.05. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the company earned $2.56 earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. Sell-side analysts predict that Gartner, Inc. will post 11.89 earnings per share for the current fiscal year.

Insider Activity at Gartner

In related news, EVP Scott Hensel sold 5,580 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $490.00, for a total transaction of $2,734,200.00. Following the transaction, the executive vice president now owns 19,724 shares in the company, valued at $9,664,760. This represents a 22.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Akhil Jain sold 500 shares of Gartner stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $492.00, for a total transaction of $246,000.00. Following the completion of the sale, the executive vice president now directly owns 4,339 shares of the company’s stock, valued at approximately $2,134,788. This trade represents a 10.33 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,729 shares of company stock valued at $37,809,011. 3.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on IT. Bank of America boosted their target price on Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Barclays raised their target price on Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. UBS Group lifted their price target on Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley raised their price objective on Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $539.25.

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.