Allspring Global Investments Holdings LLC Sells 33,168 Shares of Gartner, Inc. (NYSE:IT)

Allspring Global Investments Holdings LLC lowered its position in shares of Gartner, Inc. (NYSE:IT - Free Report) by 13.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 207,517 shares of the information technology services provider's stock after selling 33,168 shares during the period. Allspring Global Investments Holdings LLC owned 0.27% of Gartner worth $85,854,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Gartner during the 4th quarter valued at about $460,541,000. Madison Investment Advisors LLC bought a new stake in Gartner during the fourth quarter valued at $244,799,000. GAMMA Investing LLC lifted its stake in Gartner by 40,841.0% during the first quarter. GAMMA Investing LLC now owns 499,071 shares of the information technology services provider's stock worth $209,480,000 after purchasing an additional 497,852 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Gartner during the fourth quarter worth about $165,476,000. Finally, BNP Paribas Financial Markets lifted its stake in Gartner by 184.6% during the fourth quarter. BNP Paribas Financial Markets now owns 390,472 shares of the information technology services provider's stock worth $189,172,000 after purchasing an additional 253,288 shares during the last quarter. Institutional investors own 91.51% of the company's stock.

Gartner Price Performance

IT stock traded down $1.92 during mid-day trading on Friday, reaching $402.68. The company's stock had a trading volume of 1,040,422 shares, compared to its average volume of 496,543. The stock has a market cap of $30.99 billion, a PE ratio of 25.06, a P/E/G ratio of 2.61 and a beta of 1.23. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.64. Gartner, Inc. has a fifty-two week low of $366.05 and a fifty-two week high of $584.01. The company's 50 day moving average is $423.58 and its two-hundred day moving average is $458.50.

Gartner (NYSE:IT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share for the quarter, topping analysts' consensus estimates of $2.72 by $0.26. The firm had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.53 billion. Gartner had a net margin of 19.82% and a return on equity of 96.70%. The firm's quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the company posted $2.93 EPS. Equities research analysts expect that Gartner, Inc. will post 12.5 EPS for the current year.

Insider Transactions at Gartner

In other Gartner news, SVP John J. Rinello sold 109 shares of Gartner stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $436.35, for a total value of $47,562.15. Following the completion of the transaction, the senior vice president now directly owns 3,280 shares in the company, valued at $1,431,228. The trade was a 3.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP William James Wartinbee III sold 538 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $449.09, for a total transaction of $241,610.42. Following the sale, the executive vice president now directly owns 7,965 shares in the company, valued at approximately $3,577,001.85. This trade represents a 6.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,426 shares of company stock valued at $2,430,327. 2.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Wall Street Zen downgraded Gartner from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Robert W. Baird lowered their price objective on Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Wells Fargo & Company lowered their price objective on Gartner from $401.00 to $400.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. The Goldman Sachs Group lowered their price objective on Gartner from $622.00 to $535.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Finally, Barclays lowered their price objective on Gartner from $510.00 to $475.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $515.89.

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.