DekaBank Deutsche Girozentrale Decreases Stake in Gartner, Inc. (NYSE:IT)

DekaBank Deutsche Girozentrale lowered its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 128,799 shares of the information technology services provider's stock after selling 5,255 shares during the period. DekaBank Deutsche Girozentrale owned about 0.17% of Gartner worth $52,969,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC bought a new position in Gartner in the 4th quarter worth about $309,000. Jones Financial Companies Lllp raised its stake in shares of Gartner by 154.3% in the fourth quarter. Jones Financial Companies Lllp now owns 506 shares of the information technology services provider's stock worth $245,000 after purchasing an additional 307 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Gartner during the fourth quarter valued at about $49,000. Proficio Capital Partners LLC purchased a new position in Gartner in the 4th quarter worth approximately $95,762,000. Finally, Dorsey & Whitney Trust CO LLC lifted its holdings in Gartner by 2.5% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 826 shares of the information technology services provider's stock worth $400,000 after purchasing an additional 20 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Insider Activity

In other Gartner news, EVP Robin B. Kranich sold 739 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $436.50, for a total transaction of $322,573.50. Following the sale, the executive vice president owned 20,464 shares in the company, valued at approximately $8,932,536. This trade represents a 3.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John J. Rinello sold 109 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $436.35, for a total transaction of $47,562.15. Following the completion of the sale, the senior vice president owned 3,280 shares in the company, valued at $1,431,228. This represents a 3.22% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,426 shares of company stock worth $2,430,327. 3.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on IT. The Goldman Sachs Group cut 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. Wells Fargo & Company reduced 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. Robert W. Baird cut their price target on Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Barclays reduced their target price on Gartner from $510.00 to $475.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Finally, Wall Street Zen downgraded Gartner from a "buy" rating to a "hold" rating in a research note on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Gartner currently has an average rating of "Hold" and an average price target of $515.89.

Gartner Stock Down 1.4%

Shares of NYSE IT traded down $5.50 during mid-day trading on Wednesday, reaching $393.65. 626,117 shares of the company's stock traded hands, compared to its average volume of 508,044. Gartner, Inc. has a 1-year low of $366.05 and a 1-year high of $584.01. The stock has a market cap of $30.30 billion, a P/E ratio of 24.50, a PEG ratio of 2.59 and a beta of 1.19. The business has a 50-day simple moving average of $422.21 and a 200 day simple moving average of $453.83. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.09 and a quick ratio of 1.09.

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

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.