Gartner, Inc. (NYSE:IT) Shares Sold by Jennison Associates LLC

Jennison Associates LLC reduced its stake in shares of Gartner, Inc. (NYSE:IT) by 22.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,573 shares of the information technology services provider’s stock after selling 22,328 shares during the quarter. Jennison Associates LLC owned about 0.10% of Gartner worth $34,543,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. MCF Advisors LLC acquired a new stake in shares of Gartner in the fourth quarter valued at approximately $27,000. Handelsbanken Fonder AB boosted its stake in Gartner by 37.5% during the 4th quarter. Handelsbanken Fonder AB now owns 18,534 shares of the information technology services provider’s stock worth $8,361,000 after purchasing an additional 5,058 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Gartner by 3.8% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,664 shares of the information technology services provider’s stock worth $3,457,000 after purchasing an additional 280 shares during the period. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Gartner during the 4th quarter worth $349,000. Finally, Signaturefd LLC increased its stake in Gartner by 3.5% in the fourth quarter. Signaturefd LLC now owns 1,207 shares of the information technology services provider’s stock valued at $544,000 after purchasing an additional 41 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IT. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. Morgan Stanley increased their price objective on Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. UBS Group raised Gartner from a “neutral” rating to a “buy” rating and boosted their target price for the company from $484.00 to $550.00 in a report 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 for the company. Finally, BMO Capital Markets boosted their price objective on shares of Gartner from $444.00 to $450.00 and gave the company a “market perform” rating in a research note on Thursday, February 8th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Gartner presently has an average rating of “Hold” and an average price target of $477.60.

Insider Transactions at Gartner

In related news, EVP Claire Herkes sold 1,460 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 2,842 shares in the company, valued at $1,352,109.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Claire Herkes sold 1,460 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $475.76, for a total value of $694,609.60. Following the sale, the executive vice president now owns 2,842 shares in the company, valued at approximately $1,352,109.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James C. Smith sold 10,000 shares of Gartner stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $459.68, for a total value of $4,596,800.00. Following the transaction, the director now directly owns 623,235 shares of the company’s stock, valued at $286,488,664.80. The disclosure for this sale can be found here. Insiders have sold a total of 22,952 shares of company stock valued at $10,598,070 in the last ninety days. 3.60% of the stock is currently owned by company insiders.

Gartner Stock Performance

NYSE IT opened at $451.06 on Thursday. The stock has a market capitalization 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 business’s 50 day moving average is $464.99 and its two-hundred day moving average is $437.07. Gartner, Inc. has a 12-month low of $292.60 and a 12-month high of $486.54. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.60.

Gartner (NYSE:IT) last announced 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. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. Gartner had a return on equity of 156.35% and a net margin of 14.94%. Gartner’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.70 earnings per share. Research analysts expect that Gartner, Inc. will post 11.3 EPS for the current year.

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.