DNB Asset Management AS Grows Position in Gartner, Inc. (NYSE:IT)

DNB Asset Management AS increased its position in Gartner, Inc. (NYSE:IT) by 6.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,470 shares of the information technology services provider’s stock after purchasing an additional 777 shares during the period. DNB Asset Management AS’s holdings in Gartner were worth $5,600,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in IT. MCF Advisors LLC purchased a new stake in Gartner during the 4th quarter valued at about $27,000. Frazier Financial Advisors LLC purchased a new stake in shares of Gartner during the fourth quarter valued at approximately $27,000. DSM Capital Partners LLC bought a new stake in shares of Gartner during the fourth quarter valued at approximately $32,000. Harbor Investment Advisory LLC increased its position in shares of Gartner by 7,500.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 76 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 75 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new position in Gartner in the 1st quarter worth approximately $36,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Stock Performance

Shares of NYSE IT opened at $473.07 on Wednesday. The stock has a market cap of $36.72 billion, a PE ratio of 47.07, a price-to-earnings-growth ratio of 3.80 and a beta of 1.33. Gartner, Inc. has a 1 year low of $323.61 and a 1 year high of $509.15. The firm has a fifty day moving average price of $451.05 and a 200-day moving average price of $455.19. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.91.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.20. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.58 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. Gartner’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.85 EPS. Equities analysts anticipate that Gartner, Inc. will post 11.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Alwyn Dawkins sold 1,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $505.49, for a total transaction of $505,490.00. Following the completion of the transaction, the executive vice president now owns 56,650 shares in the company, valued at $28,636,008.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Anne Sutherland Fuchs sold 500 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $505.28, for a total value of $252,640.00. Following the sale, the director now owns 8,059 shares in the company, valued at $4,072,051.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alwyn Dawkins sold 1,000 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $505.49, for a total transaction of $505,490.00. Following the transaction, the executive vice president now owns 56,650 shares of the company’s stock, valued at approximately $28,636,008.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,126 shares of company stock valued at $16,937,420. Corporate insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Gartner in a research note on Tuesday, April 16th. They set a “hold” rating and a $507.00 target price on the stock. Morgan Stanley lifted their price objective on Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. BMO Capital Markets lifted their price target on shares of Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Finally, UBS Group increased their price objective on shares of Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $521.00.

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.