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

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

Other institutional investors have also added to or reduced their stakes in the company. Czech National Bank increased its position in Gartner by 6.5% during the 4th quarter. Czech National Bank now owns 16,725 shares of the information technology services provider’s stock worth $8,103,000 after purchasing an additional 1,028 shares in the last quarter. Assetmark Inc. increased its position in Gartner by 70.0% during the 3rd quarter. Assetmark Inc. now owns 5,144 shares of the information technology services provider’s stock worth $2,607,000 after purchasing an additional 2,118 shares in the last quarter. Entropy Technologies LP acquired a new position in Gartner during the 4th quarter worth approximately $366,000. ING Groep NV increased its position in Gartner by 38.4% during the 3rd quarter. ING Groep NV now owns 10,306 shares of the information technology services provider’s stock worth $5,223,000 after purchasing an additional 2,860 shares in the last quarter. Finally, D.A. Davidson & CO. increased its position in Gartner by 2.6% during the 4th quarter. D.A. Davidson & CO. now owns 1,137 shares of the information technology services provider’s stock worth $551,000 after purchasing an additional 29 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IT has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their price objective on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research report on Friday, January 10th. The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $525.00 to $600.00 in a research report on Friday, January 10th. Robert W. Baird lifted their price objective on shares of Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. Finally, 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 report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Gartner currently has an average rating of “Hold” and a consensus target price of $552.63.

Insider Activity

In related news, EVP William James Wartinbee III sold 189 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $523.54, for a total transaction of $98,949.06. Following the completion of the transaction, the executive vice president now owns 7,311 shares of the company’s stock, valued at approximately $3,827,600.94. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $587,724.00. Following the transaction, the director now directly owns 1,627 shares of the company’s stock, valued at approximately $796,855.79. This represents a 42.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,479 shares of company stock valued at $734,419 over the last quarter. Company insiders own 3.60% of the company’s stock.

Gartner Stock Performance

Shares of IT stock opened at $498.63 on Friday. The firm’s 50-day simple moving average is $510.13 and its two-hundred day simple moving average is $509.84. Gartner, Inc. has a 52 week low of $411.15 and a 52 week high of $584.01. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market cap of $38.30 billion, a price-to-earnings ratio of 31.11, a P/E/G ratio of 3.30 and a beta of 1.34.

Gartner (NYSE:IT) last posted its quarterly earnings results 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. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the previous year, the firm posted $3.04 earnings per share. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, equities analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current 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.