Forsta AP Fonden Has $16.01 Million Stake in Gartner, Inc. (NYSE:IT)

Forsta AP Fonden increased its stake in shares of Gartner, Inc. (NYSE:IT) by 4.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 31,600 shares of the information technology services provider’s stock after acquiring an additional 1,300 shares during the period. Forsta AP Fonden’s holdings in Gartner were worth $16,014,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Eastern Bank acquired a new position in shares of Gartner during the 3rd quarter valued at about $26,000. Central Pacific Bank Trust Division bought a new stake in Gartner during the 1st quarter valued at approximately $36,000. Crewe Advisors LLC boosted its stake in Gartner by 223.3% during the 2nd quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after purchasing an additional 67 shares during the period. J.Safra Asset Management Corp boosted its stake in Gartner by 58.7% during the 1st quarter. J.Safra Asset Management Corp now owns 146 shares of the information technology services provider’s stock valued at $70,000 after purchasing an additional 54 shares during the period. Finally, Asset Dedication LLC boosted its stake in Gartner by 46.5% during the 3rd quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock valued at $75,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on IT. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. BMO Capital Markets increased their target price on Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. Robert W. Baird raised their price objective on Gartner from $517.00 to $565.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. UBS Group raised their price objective on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley raised their price objective on Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $532.86.

Insider Activity at Gartner

In related news, EVP Yvonne Genovese sold 443 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $483.62, for a total transaction of $214,243.66. Following the completion of the sale, the executive vice president now directly owns 1,959 shares of the company’s stock, valued at $947,411.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Yvonne Genovese sold 443 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $483.62, for a total transaction of $214,243.66. Following the completion of the sale, the executive vice president now directly owns 1,959 shares of the company’s stock, valued at $947,411.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Alwyn Dawkins sold 1,000 shares of Gartner stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $505.49, for a total value of $505,490.00. Following the completion of the sale, the executive vice president now directly owns 56,650 shares of the company’s stock, valued at $28,636,008.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,164 shares of company stock valued at $32,601,014 in the last three months. Corporate insiders own 3.60% of the company’s stock.

Gartner Price Performance

Gartner stock opened at $513.36 on Friday. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $39.56 billion, a PE ratio of 48.89, a price-to-earnings-growth ratio of 3.25 and a beta of 1.32. Gartner, Inc. has a one year low of $323.61 and a one year high of $535.29. The business has a 50 day simple moving average of $505.35 and a 200 day simple moving average of $469.93.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, topping the consensus estimate of $3.02 by $0.20. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. Gartner’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company earned $2.85 EPS. On average, sell-side analysts forecast that Gartner, Inc. will post 11.65 EPS for the current fiscal 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.