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Deutsche Bank AG Sells 39,461 Shares of Gartner, Inc. (NYSE:IT)

Gartner logo with Business Services background

Key Points

  • Deutsche Bank AG reduced its stake in Gartner, Inc. by 12.6% in the first quarter, resulting in ownership of 273,883 shares worth approximately $114.96 million.
  • Gartner's recent quarterly earnings were $3.53 per share, which surpassed estimates, but revenue was slightly below expectations at $1.66 billion.
  • Analysts have adjusted price targets for Gartner, with revisions from multiple firms showing a consensus average target of $369.25 and a general rating of "Hold."
  • Want stock alerts on Gartner? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Deutsche Bank AG lessened its stake in Gartner, Inc. (NYSE:IT - Free Report) by 12.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 273,883 shares of the information technology services provider's stock after selling 39,461 shares during the period. Deutsche Bank AG owned 0.36% of Gartner worth $114,960,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Gartner by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 9,433,449 shares of the information technology services provider's stock valued at $3,959,596,000 after buying an additional 164,810 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Gartner by 9.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 956,223 shares of the information technology services provider's stock valued at $401,365,000 after purchasing an additional 82,307 shares in the last quarter. Northern Trust Corp boosted its position in shares of Gartner by 10.9% during the 4th quarter. Northern Trust Corp now owns 906,833 shares of the information technology services provider's stock valued at $439,333,000 after purchasing an additional 88,800 shares in the last quarter. Sustainable Growth Advisers LP boosted its position in shares of Gartner by 26.3% during the 1st quarter. Sustainable Growth Advisers LP now owns 676,325 shares of the information technology services provider's stock valued at $283,881,000 after purchasing an additional 140,898 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Gartner by 12.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 649,567 shares of the information technology services provider's stock valued at $314,696,000 after purchasing an additional 74,422 shares in the last quarter. Institutional investors own 91.51% of the company's stock.

Gartner Trading Down 0.6%

Shares of IT traded down $1.42 during midday trading on Thursday, hitting $241.25. The stock had a trading volume of 612,441 shares, compared to its average volume of 786,073. Gartner, Inc. has a fifty-two week low of $223.65 and a fifty-two week high of $584.01. The business has a 50-day simple moving average of $363.58 and a two-hundred day simple moving average of $422.88. The firm has a market cap of $18.57 billion, a P/E ratio of 14.82 and a beta of 1.19. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.61.

Gartner (NYSE:IT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.38 by $0.15. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The firm's revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.22 earnings per share. As a group, equities analysts forecast that Gartner, Inc. will post 12.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on IT shares. UBS Group restated a "neutral" rating and set a $270.00 price objective (down previously from $480.00) on shares of Gartner in a research report on Wednesday, August 6th. Morgan Stanley reduced their price objective on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 6th. Wells Fargo & Company reduced their price objective on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a research report on Wednesday, August 6th. The Goldman Sachs Group reduced their price objective on shares of Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Finally, BMO Capital Markets reduced their price objective on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating for the company in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $369.25.

Get Our Latest Research Report on IT

Insider Activity

In other news, EVP Akhil Jain sold 625 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $450.00, for a total value of $281,250.00. Following the completion of the sale, the executive vice president directly owned 6,548 shares of the company's stock, valued at $2,946,600. This represents a 8.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.30% of the stock is owned by company insiders.

Gartner Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Gartner (NYSE:IT)

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