Skandinaviska Enskilda Banken AB publ Sells 4,299 Shares of Gartner, Inc. (NYSE:IT)

Key Points

• Skandinaviska Enskilda Banken AB publ reduced its position in Gartner, Inc. by 6.5%, owning approximately 0.08% of the company, valued at around $25.9 million.
• Research analysts are projecting a mixed outlook for Gartner, with target prices cut by firms like Wells Fargo and Goldman Sachs, while the consensus rating is a "Hold".
• Insiders have sold a total of 5,426 shares in the last three months, indicating a potential insider sentiment shift, with EVP William James Wartinbee III selling shares valued at over $241,000.

Skandinaviska Enskilda Banken AB publ decreased its position in shares of Gartner, Inc. (NYSE:IT - Free Report) by 6.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,759 shares of the information technology services provider's stock after selling 4,299 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.08% of Gartner worth $25,923,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of IT. Cary Street Partners Financial LLC acquired a new stake in Gartner during the fourth quarter valued at $27,000. Itau Unibanco Holding S.A. grew its position in Gartner by 453.3% during the fourth quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider's stock valued at $40,000 after buying an additional 68 shares during the period. Olde Wealth Management LLC acquired a new stake in Gartner during the first quarter valued at $42,000. GW&K Investment Management LLC grew its position in Gartner by 210.8% during the first quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider's stock valued at $48,000 after buying an additional 78 shares during the period. Finally, Wayfinding Financial LLC acquired a new stake in Gartner during the first quarter valued at $55,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Gartner Trading Down 0.9%

Shares of IT traded down $3.06 during mid-day trading on Wednesday, hitting $347.34. The company had a trading volume of 148,025 shares, compared to its average volume of 690,230. The business's 50-day simple moving average is $399.82 and its 200-day simple moving average is $440.79. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.64. Gartner, Inc. has a 1-year low of $345.16 and a 1-year high of $584.01. The stock has a market cap of $26.73 billion, a PE ratio of 21.62 and a beta of 1.19.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.72 by $0.26. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Gartner had a net margin of 19.82% and a return on equity of 96.70%. The business's quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.93 earnings per share. Sell-side analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current year.

Insider Activity at Gartner

In related news, EVP William James Wartinbee III sold 538 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $449.09, for a total value of $241,610.42. Following the completion of the sale, the executive vice president owned 7,965 shares of the company's stock, valued at $3,577,001.85. This represents a 6.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Craig Safian sold 3,415 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $450.17, for a total transaction of $1,537,330.55. Following the completion of the sale, the chief financial officer directly owned 77,890 shares of the company's stock, valued at $35,063,741.30. The trade was a 4.20% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,426 shares of company stock valued at $2,430,327. Company insiders own 3.60% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on IT shares. UBS Group dropped their price target on shares of Gartner from $500.00 to $480.00 and set a "buy" rating on the stock in a research report on Tuesday, July 15th. Barclays dropped their price target on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. The Goldman Sachs Group dropped their target price on shares of Gartner from $622.00 to $535.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company dropped their target price on shares of Gartner from $400.00 to $345.00 and set an "underweight" rating on the stock in a research report on Friday, July 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $507.56.

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.