Allspring Global Investments Holdings LLC Purchases 16,811 Shares of Gartner, Inc. (NYSE:IT)

Allspring Global Investments Holdings LLC lifted its stake in Gartner, Inc. (NYSE:IT - Free Report) by 8.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 218,364 shares of the information technology services provider's stock after purchasing an additional 16,811 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.28% of Gartner worth $98,507,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fox Run Management L.L.C. acquired a new stake in Gartner during the 3rd quarter worth about $230,000. Assenagon Asset Management S.A. boosted its position in Gartner by 169.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 37,708 shares of the information technology services provider's stock worth $17,010,000 after acquiring an additional 23,701 shares during the period. Chapin Davis Inc. acquired a new stake in Gartner during the 4th quarter worth about $960,000. Stifel Financial Corp boosted its position in Gartner by 32.6% during the 3rd quarter. Stifel Financial Corp now owns 33,817 shares of the information technology services provider's stock worth $11,620,000 after acquiring an additional 8,319 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in Gartner by 60.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 323,573 shares of the information technology services provider's stock worth $111,183,000 after acquiring an additional 122,248 shares during the period. Institutional investors and hedge funds own 91.51% of the company's stock.

Gartner Stock Performance

Shares of NYSE:IT traded down $1.98 during trading on Tuesday, hitting $469.89. 246,734 shares of the stock were exchanged, compared to its average volume of 388,666. Gartner, Inc. has a 1-year low of $292.60 and a 1-year high of $486.54. The company has a market capitalization of $36.64 billion, a price-to-earnings ratio of 42.49, a price-to-earnings-growth ratio of 4.30 and a beta of 1.29. The company's fifty day simple moving average is $465.67 and its 200-day simple moving average is $429.52. The company has a debt-to-equity ratio of 3.60, a quick ratio of 0.91 and a current ratio of 0.91.

Gartner (NYSE:IT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.21. Gartner had a return on equity of 156.35% and a net margin of 14.94%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter last year, the firm earned $3.70 EPS. Gartner's revenue for the quarter was up 6.3% compared to the same quarter last year. Sell-side analysts expect that Gartner, Inc. will post 11.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

IT has been the subject of a number of recent research reports. UBS Group raised their price target on Gartner from $412.00 to $490.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 6th. Morgan Stanley raised their price objective on Gartner from $421.00 to $446.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 6th. Wells Fargo & Company raised their price objective on Gartner from $380.00 to $435.00 and gave the company an "overweight" rating in a research note on Friday, December 15th. StockNews.com downgraded Gartner from a "buy" rating to a "hold" rating in a research report on Saturday, February 10th. Finally, BMO Capital Markets lifted their price target on Gartner from $444.00 to $450.00 and gave the stock a "market perform" rating in a research report on Thursday, February 8th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $455.25.

Insider Transactions at Gartner

In related news, EVP Akhil Jain sold 250 shares of the business's stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $464.55, for a total value of $116,137.50. Following the sale, the executive vice president now owns 5,239 shares of the company's stock, valued at approximately $2,433,777.45. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Yvonne Genovese sold 560 shares of the business's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $457.37, for a total value of $256,127.20. Following the sale, the executive vice president now owns 2,398 shares of the company's stock, valued at approximately $1,096,773.26. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Akhil Jain sold 250 shares of the business's stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $464.55, for a total value of $116,137.50. Following the completion of the transaction, the executive vice president now directly owns 5,239 shares in the company, valued at approximately $2,433,777.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,952 shares of company stock valued at $10,598,070. 3.90% of the stock is owned by corporate insiders.

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.