Norden Group LLC Has $1.90 Million Position in Gartner, Inc. (NYSE:IT)

Norden Group LLC reduced its holdings in Gartner, Inc. (NYSE:IT) by 22.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,929 shares of the information technology services provider’s stock after selling 1,122 shares during the period. Norden Group LLC’s holdings in Gartner were worth $1,903,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IT. Kestra Investment Management LLC acquired a new stake in Gartner in the 4th quarter valued at $29,000. Ashton Thomas Securities LLC acquired a new position in shares of Gartner during the 3rd quarter worth about $44,000. True Wealth Design LLC increased its stake in shares of Gartner by 2,350.0% during the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after purchasing an additional 94 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Gartner during the 3rd quarter worth about $77,000. Finally, Global Retirement Partners LLC increased its stake in shares of Gartner by 14.0% during the 4th quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider’s stock worth $134,000 after purchasing an additional 34 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on IT shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Morgan Stanley lowered their price objective on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. The Goldman Sachs Group restated a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. Finally, StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $552.63.

Gartner Stock Performance

NYSE IT opened at $498.63 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $38.30 billion, a P/E ratio of 31.11, a P/E/G ratio of 3.30 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 firm has a 50-day moving average price of $510.13 and a two-hundred day moving average price of $509.84.

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 analysts’ consensus estimates of $3.22 by $2.23. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.04 EPS. Analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current year.

Insider Buying and Selling at Gartner

In other news, Director Eileen Serra sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $489.77, for a total value of $587,724.00. Following the completion of the transaction, the director now directly owns 1,627 shares in the company, valued at approximately $796,855.79. The trade was a 42.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John J. Rinello sold 90 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the transaction, the senior vice president now owns 3,259 shares of the company’s stock, valued at $1,728,932.09. The trade was a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,479 shares of company stock valued at $734,419 in the last quarter. Company insiders own 3.60% of the company’s stock.

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.