Sumitomo Mitsui Trust Group Inc. Grows Holdings in Gartner, Inc. (NYSE:IT)

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 1.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 183,632 shares of the information technology services provider's stock after buying an additional 1,750 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.24% of Gartner worth $77,078,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Gartner by 2.5% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 826 shares of the information technology services provider's stock valued at $400,000 after purchasing an additional 20 shares during the last quarter. Sompo Asset Management Co. Ltd. boosted its holdings in Gartner by 1.7% in the fourth quarter. Sompo Asset Management Co. Ltd. now owns 1,210 shares of the information technology services provider's stock worth $586,000 after acquiring an additional 20 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Gartner by 2.9% in the fourth quarter. Parallel Advisors LLC now owns 737 shares of the information technology services provider's stock worth $357,000 after acquiring an additional 21 shares during the last quarter. Cornerstone Advisory LLC grew its stake in shares of Gartner by 0.8% in the fourth quarter. Cornerstone Advisory LLC now owns 2,803 shares of the information technology services provider's stock worth $1,443,000 after acquiring an additional 21 shares during the last quarter. Finally, TD Waterhouse Canada Inc. increased its holdings in shares of Gartner by 3.1% during the fourth quarter. TD Waterhouse Canada Inc. now owns 758 shares of the information technology services provider's stock valued at $367,000 after acquiring an additional 23 shares in the last quarter. Institutional investors own 91.51% of the company's stock.

Insider Activity

In related news, EVP William James Wartinbee III sold 538 shares of the company'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 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 Securities & Exchange Commission, which is available through this link. Also, EVP Robin B. Kranich sold 739 shares of Gartner stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $436.50, for a total transaction of $322,573.50. Following the completion of the transaction, the executive vice president directly owned 20,464 shares of the company's stock, valued at $8,932,536. The trade was a 3.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,426 shares of company stock valued at $2,430,327. Company insiders own 3.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IT. 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 note on Monday, April 21st. UBS Group dropped their target price on shares of Gartner from $525.00 to $500.00 and set a "buy" rating on the stock in a research note on Wednesday, June 18th. The Goldman Sachs Group reduced their price target on shares of Gartner from $622.00 to $535.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. 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. Finally, Wells Fargo & Company reduced their target price on Gartner from $401.00 to $400.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Gartner has an average rating of "Hold" and an average target price of $515.89.

Gartner Price Performance

NYSE:IT traded down $10.26 during trading hours on Wednesday, hitting $396.44. 129,953 shares of the stock traded hands, compared to its average volume of 500,750. The company has a market cap of $30.51 billion, a price-to-earnings ratio of 24.68, a price-to-earnings-growth ratio of 2.62 and a beta of 1.19. Gartner, Inc. has a 1 year low of $366.05 and a 1 year high of $584.01. The stock has a 50 day moving average price of $423.91 and a 200 day moving average price of $457.02. 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 (NYSE:IT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, beating analysts' consensus estimates of $2.72 by $0.26. Gartner had a return on equity of 96.70% and a net margin of 19.82%. The business had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.53 billion. During the same period last year, the firm earned $2.93 earnings per share. The business's quarterly revenue was up 4.2% on a year-over-year basis. Sell-side analysts forecast 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.