Sumitomo Mitsui DS Asset Management Company Ltd Increases Holdings in Gartner, Inc. (NYSE:IT)

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Gartner, Inc. (NYSE:IT) by 3.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,664 shares of the information technology services provider’s stock after buying an additional 280 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Gartner were worth $3,457,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Fox Run Management L.L.C. purchased a new stake in shares of Gartner in the 3rd quarter worth $230,000. RFG Advisory LLC increased its stake in shares of Gartner by 37.2% in the 4th quarter. RFG Advisory LLC now owns 1,589 shares of the information technology services provider’s stock worth $717,000 after purchasing an additional 431 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Gartner by 169.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 37,708 shares of the information technology services provider’s stock worth $17,010,000 after purchasing an additional 23,701 shares in the last quarter. Chapin Davis Inc. purchased a new stake in shares of Gartner in the 4th quarter worth $960,000. Finally, Stifel Financial Corp boosted its holdings in Gartner by 32.6% in the 3rd quarter. Stifel Financial Corp now owns 33,817 shares of the information technology services provider’s stock worth $11,620,000 after buying an additional 8,319 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Gartner

In related news, EVP Valentin Sribar sold 682 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $453.00, for a total value of $308,946.00. Following the completion of the transaction, the executive vice president now owns 12,269 shares of the company’s stock, valued at approximately $5,557,857. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Gartner news, EVP Claire Herkes sold 1,460 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $475.76, for a total value of $694,609.60. Following the completion of the sale, the executive vice president now owns 2,842 shares of the company’s stock, valued at $1,352,109.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Valentin Sribar sold 682 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $453.00, for a total value of $308,946.00. Following the transaction, the executive vice president now directly owns 12,269 shares in the company, valued at approximately $5,557,857. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,952 shares of company stock valued at $10,598,070. Insiders own 3.60% of the company’s stock.

Gartner Stock Up 1.6 %

IT opened at $450.25 on Wednesday. The firm has a 50-day simple moving average of $464.91 and a two-hundred day simple moving average of $436.38. Gartner, Inc. has a 52 week low of $292.60 and a 52 week high of $486.54. The company has a market capitalization of $35.11 billion, a PE ratio of 40.71, a price-to-earnings-growth ratio of 4.05 and a beta of 1.29. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.60.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, February 6th. The information technology services provider reported $3.04 EPS for the quarter, beating the consensus estimate of $2.83 by $0.21. Gartner had a net margin of 14.94% and a return on equity of 156.35%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the firm earned $3.70 EPS. The business’s revenue was up 6.3% on a year-over-year basis. Analysts forecast that Gartner, Inc. will post 11.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on IT shares. UBS Group raised shares of Gartner from a “neutral” rating to a “buy” rating and upped their target price for the stock from $484.00 to $550.00 in a report on Thursday, April 11th. BMO Capital Markets upped their target price on shares of Gartner from $444.00 to $450.00 and gave the stock a “market perform” rating in a report on Thursday, February 8th. Morgan Stanley upped their target price on shares of Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Deutsche Bank Aktiengesellschaft started coverage on shares of Gartner in a report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 target price for the company. Finally, StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a report on Saturday, February 10th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $477.60.

Gartner Company 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.