Nordea Investment Management AB Has $3.33 Million Stock Position in Gartner, Inc. (NYSE:IT)

Nordea Investment Management AB grew its stake in Gartner, Inc. (NYSE:IT) by 5.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,848 shares of the information technology services provider’s stock after buying an additional 333 shares during the quarter. Nordea Investment Management AB’s holdings in Gartner were worth $3,334,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Sustainable Growth Advisers LP acquired a new position in Gartner in the 2nd quarter worth $266,541,000. Point72 Asset Management L.P. bought a new stake in shares of Gartner in the third quarter valued at about $70,955,000. Principal Financial Group Inc. boosted its position in shares of Gartner by 5.5% during the third quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock worth $1,014,099,000 after buying an additional 103,814 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Gartner during the third quarter worth about $36,789,000. Finally, JPMorgan Chase & Co. raised its position in Gartner by 7.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock valued at $525,272,000 after buying an additional 70,236 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Activity

In other Gartner news, EVP William James Wartinbee III sold 189 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $523.54, for a total value of $98,949.06. Following the transaction, the executive vice president now directly owns 7,311 shares of the company’s stock, valued at $3,827,600.94. This represents a 2.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James C. Smith sold 17,533 shares of Gartner stock in a transaction on Friday, November 8th. The stock was sold at an average price of $547.09, for a total value of $9,592,128.97. Following the sale, the director now directly owns 532,294 shares of the company’s stock, valued at $291,212,724.46. This represents a 3.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,583 shares of company stock valued at $19,241,974 over the last ninety days. 3.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

IT has been the subject of several research reports. Wells Fargo & Company decreased their price target on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday. Robert W. Baird raised their target price on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Morgan Stanley boosted their price target on shares of Gartner from $560.00 to $564.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $525.00 to $600.00 in a report on Friday. Finally, StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $551.88.

Gartner Price Performance

Shares of NYSE IT opened at $488.91 on Friday. Gartner, Inc. has a twelve month low of $411.15 and a twelve month high of $559.00. The company has a market cap of $37.71 billion, a PE ratio of 36.06, a price-to-earnings-growth ratio of 3.18 and a beta of 1.33. The business’s 50 day moving average price is $510.05 and its two-hundred day moving average price is $495.69. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the business earned $2.56 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, analysts predict that Gartner, Inc. will post 11.87 EPS for the current year.

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.