MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $980,000 Stock Holdings in Gartner, Inc. (NYSE:IT)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lessened its stake in shares of Gartner, Inc. (NYSE:IT) by 87.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,056 shares of the information technology services provider’s stock after selling 13,754 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Gartner were worth $980,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Morgan Stanley lifted its stake in shares of Gartner by 4.6% during the 3rd quarter. Morgan Stanley now owns 2,157,075 shares of the information technology services provider’s stock worth $741,193,000 after buying an additional 95,040 shares during the last quarter. Wellington Management Group LLP raised its stake in Gartner by 12.0% in the 4th quarter. Wellington Management Group LLP now owns 1,852,820 shares of the information technology services provider’s stock worth $835,826,000 after purchasing an additional 198,274 shares in the last quarter. Brown Advisory Inc. raised its stake in Gartner by 4.6% in the 4th quarter. Brown Advisory Inc. now owns 1,208,914 shares of the information technology services provider’s stock worth $545,353,000 after purchasing an additional 52,826 shares in the last quarter. Franklin Resources Inc. raised its stake in Gartner by 18.5% in the 4th quarter. Franklin Resources Inc. now owns 920,716 shares of the information technology services provider’s stock worth $415,344,000 after purchasing an additional 143,556 shares in the last quarter. Finally, Norges Bank acquired a new stake in Gartner in the 4th quarter worth about $388,781,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Trading Up 1.1 %

Shares of Gartner stock opened at $446.12 on Wednesday. The firm has a market capitalization of $34.63 billion, a PE ratio of 44.39, a price-to-earnings-growth ratio of 3.93 and a beta of 1.33. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.42. The firm’s 50 day moving average is $438.95 and its 200 day moving average is $452.00. Gartner, Inc. has a 1 year low of $323.61 and a 1 year high of $486.54.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.40. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.47 billion. Gartner had a net margin of 13.35% and a return on equity of 141.55%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.88 EPS. Equities research analysts forecast that Gartner, Inc. will post 11.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Gartner news, Director James C. Smith sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $439.29, for a total transaction of $4,392,900.00. Following the sale, the director now directly owns 599,074 shares of the company’s stock, valued at approximately $263,167,217.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director James C. Smith sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $439.29, for a total value of $4,392,900.00. Following the transaction, the director now owns 599,074 shares in the company, valued at approximately $263,167,217.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alwyn Dawkins sold 600 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $447.63, for a total transaction of $268,578.00. Following the transaction, the executive vice president now owns 51,583 shares in the company, valued at approximately $23,090,098.29. The disclosure for this sale can be found here. Insiders have sold 22,544 shares of company stock valued at $10,079,813 in the last ninety days. 3.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

IT has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Gartner in a research note on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price objective for the company. UBS Group dropped their price objective on shares of Gartner from $550.00 to $510.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. BMO Capital Markets decreased their target price on shares of Gartner from $450.00 to $432.00 and set a “market perform” rating on the stock in a report on Thursday, May 2nd. StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Robert W. Baird decreased their target price on shares of Gartner from $536.00 to $517.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $474.50.

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.