Allspring Global Investments Holdings LLC Sells 3,810 Shares of Gartner, Inc. (NYSE:IT)

Allspring Global Investments Holdings LLC cut its stake in shares of Gartner, Inc. (NYSE:IT) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 240,685 shares of the information technology services provider’s stock after selling 3,810 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Gartner were worth $116,337,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Marks Group Wealth Management Inc increased its stake in Gartner by 2.6% in the 4th quarter. Marks Group Wealth Management Inc now owns 6,486 shares of the information technology services provider’s stock worth $3,142,000 after buying an additional 165 shares in the last quarter. Sapient Capital LLC boosted its stake in shares of Gartner by 0.6% in the fourth quarter. Sapient Capital LLC now owns 13,951 shares of the information technology services provider’s stock worth $6,759,000 after acquiring an additional 89 shares during the period. Panoramic Capital Partners LLC purchased a new stake in shares of Gartner during the fourth quarter worth about $203,000. Eukles Asset Management raised its stake in Gartner by 1.8% during the 4th quarter. Eukles Asset Management now owns 7,033 shares of the information technology services provider’s stock valued at $3,407,000 after purchasing an additional 122 shares during the period. Finally, Savant Capital LLC lifted its holdings in Gartner by 15.1% in the 4th quarter. Savant Capital LLC now owns 1,104 shares of the information technology services provider’s stock worth $535,000 after purchasing an additional 145 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Gartner news, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were 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 of the company’s stock, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Claire Herkes sold 411 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total value of $214,229.64. Following the transaction, the executive vice president now directly owns 1,494 shares in the company, valued at approximately $778,732.56. This represents a 21.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,690 shares of company stock valued at $2,981,025 over the last three months. 3.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $525.00 to $600.00 in a report on Friday, January 10th. Morgan Stanley reduced their price target on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Robert W. Baird increased their price objective on shares of Gartner from $579.00 to $605.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Company dropped their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $552.63.

Gartner Stock Down 1.6 %

Shares of NYSE IT opened at $514.02 on Thursday. The stock has a market capitalization of $39.65 billion, a price-to-earnings ratio of 32.07, a P/E/G ratio of 3.50 and a beta of 1.34. Gartner, Inc. has a 12-month low of $411.15 and a 12-month high of $584.01. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. The firm’s 50-day moving average price is $510.12 and its 200-day moving average price is $507.95.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $2.23. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.69 billion. Gartner had a return on equity of 136.32% and a net margin of 20.00%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the company earned $3.04 EPS. On average, equities research analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

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.