KLP Kapitalforvaltning AS Purchases New Holdings in Gartner, Inc. (NYSE:IT)

KLP Kapitalforvaltning AS purchased a new stake in shares of Gartner, Inc. (NYSE:IT) in the 4th quarter, Holdings Channel reports. The fund purchased 26,190 shares of the information technology services provider’s stock, valued at approximately $12,688,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Czech National Bank raised its stake in Gartner by 6.5% in the fourth quarter. Czech National Bank now owns 16,725 shares of the information technology services provider’s stock valued at $8,103,000 after buying an additional 1,028 shares during the period. Entropy Technologies LP bought a new stake in Gartner in the fourth quarter valued at approximately $366,000. D.A. Davidson & CO. raised its stake in Gartner by 2.6% in the fourth quarter. D.A. Davidson & CO. now owns 1,137 shares of the information technology services provider’s stock valued at $551,000 after buying an additional 29 shares during the period. Conestoga Capital Advisors LLC increased its stake in shares of Gartner by 1.5% during the fourth quarter. Conestoga Capital Advisors LLC now owns 31,626 shares of the information technology services provider’s stock worth $15,322,000 after purchasing an additional 480 shares during the period. Finally, Barclays PLC increased its stake in shares of Gartner by 8.6% during the third quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock worth $84,520,000 after purchasing an additional 13,205 shares during the period. Institutional investors own 91.51% of the company’s stock.

Gartner Price Performance

Gartner stock opened at $430.03 on Monday. The stock’s fifty day moving average price is $502.37 and its two-hundred day moving average price is $507.99. Gartner, Inc. has a one year low of $409.50 and a one year high of $584.01. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market cap of $33.03 billion, a PE ratio of 26.83, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $2.23. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the company earned $3.04 EPS. The company’s revenue was up 8.1% on a year-over-year basis. As a group, research analysts expect that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insider Buying and Selling at Gartner

In other Gartner news, Director Eileen Serra sold 1,200 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $489.77, for a total value of $587,724.00. Following the sale, the director now owns 1,627 shares of the company’s stock, valued at approximately $796,855.79. This trade represents a 42.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction on 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 directly owns 3,259 shares in the company, valued at approximately $1,728,932.09. This represents a 2.69 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

IT has been the topic of a number of recent research reports. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research note on Friday. Morgan Stanley lowered their target price on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Wells Fargo & Company lowered their target price on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. Finally, Robert W. Baird lowered their target price on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $546.63.

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.