Gartner, Inc. (NYSE:IT) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN reduced its stake in shares of Gartner, Inc. (NYSE:IT) by 28.4% during the 4th quarter, HoldingsChannel reports. The firm owned 964 shares of the information technology services provider’s stock after selling 383 shares during the quarter. OLD National Bancorp IN’s holdings in Gartner were worth $435,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Morgan Stanley boosted its holdings in shares of Gartner by 4.6% during the 3rd quarter. Morgan Stanley now owns 2,157,075 shares of the information technology services provider’s stock worth $741,193,000 after purchasing an additional 95,040 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Gartner by 30.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,565,046 shares of the information technology services provider’s stock worth $537,766,000 after purchasing an additional 364,128 shares during the last quarter. Brown Advisory Inc. boosted its holdings in shares of Gartner by 13.9% during the 3rd quarter. Brown Advisory Inc. now owns 1,156,088 shares of the information technology services provider’s stock worth $397,243,000 after purchasing an additional 141,219 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Gartner by 6.7% during the 3rd quarter. Invesco Ltd. now owns 740,957 shares of the information technology services provider’s stock worth $254,600,000 after purchasing an additional 46,425 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in Gartner by 26.3% in the fourth quarter. Mackenzie Financial Corp now owns 629,969 shares of the information technology services provider’s stock valued at $284,185,000 after acquiring an additional 131,222 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on IT. Morgan Stanley upped their price objective on Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. UBS Group upgraded 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. BMO Capital Markets upped their price objective on Gartner from $444.00 to $450.00 and gave the company a “market perform” rating in a report on Thursday, February 8th. Deutsche Bank Aktiengesellschaft initiated coverage on Gartner in a report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price objective on the stock. Finally, StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Gartner has a consensus rating of “Hold” and a consensus price target of $477.60.

Gartner Stock Up 0.2 %

Shares of NYSE IT opened at $451.06 on Thursday. The firm has a market cap of $35.17 billion, a price-to-earnings ratio of 40.78, a PEG ratio of 4.13 and a beta of 1.29. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.60. Gartner, Inc. has a 52-week low of $292.60 and a 52-week high of $486.54. The business’s 50 day moving average is $464.99 and its two-hundred day moving average is $437.07.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share 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 business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the company earned $3.70 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. Research analysts predict that Gartner, Inc. will post 11.3 EPS for the current year.

Insider Transactions at Gartner

In other news, Director James C. Smith sold 10,000 shares of the company’s stock in a transaction 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 sale, the director now owns 623,235 shares of the company’s stock, valued at $286,488,664.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director James C. Smith sold 5,000 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $455.00, for a total value of $2,275,000.00. Following the transaction, the director now owns 638,235 shares of the company’s stock, valued at $290,396,925. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James C. Smith sold 10,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were 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 directly owns 623,235 shares in the company, valued at approximately $286,488,664.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,952 shares of company stock valued at $10,598,070. 3.60% of the stock is currently owned by company insiders.

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.