Allspring Global Investments Holdings LLC Sells 3,810 Shares of Gartner, Inc. (NYSE:IT)

Allspring Global Investments Holdings LLC lessened its position in Gartner, Inc. (NYSE:IT) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 240,685 shares of the information technology services provider’s stock after selling 3,810 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.31% of Gartner worth $116,337,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Baron Wealth Management LLC lifted its position in Gartner by 4.1% during the third quarter. Baron Wealth Management LLC now owns 481 shares of the information technology services provider’s stock valued at $244,000 after buying an additional 19 shares during the period. Fortitude Family Office LLC grew its position in shares of Gartner by 23.8% in the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after buying an additional 20 shares during the period. Gilbert & Cook Inc. grew its position in shares of Gartner by 1.5% in the 4th quarter. Gilbert & Cook Inc. now owns 1,364 shares of the information technology services provider’s stock worth $661,000 after buying an additional 20 shares during the period. Harbor Capital Advisors Inc. lifted its position in Gartner by 2.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 917 shares of the information technology services provider’s stock valued at $444,000 after acquiring an additional 22 shares during the period. Finally, Trust Point Inc. boosted its stake in Gartner by 3.2% during the third quarter. Trust Point Inc. now owns 746 shares of the information technology services provider’s stock worth $378,000 after acquiring an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insiders Place Their Bets

In other Gartner news, SVP John J. Rinello sold 90 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the sale, the senior vice president now directly owns 3,259 shares in the company, valued at $1,728,932.09. The trade was a 2.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James C. Smith sold 5,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $524.02, for a total transaction of $2,620,100.00. Following the sale, the director now directly owns 509,457 shares of the company’s stock, valued at $266,965,657.14. The trade was a 0.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,690 shares of company stock valued at $2,981,025. Company insiders own 3.60% of the company’s stock.

Gartner Trading Down 1.6 %

Gartner stock opened at $514.02 on Thursday. Gartner, Inc. has a one year low of $411.15 and a one year high of $584.01. The business’s fifty day moving average is $510.12 and its 200 day moving average is $507.95. The stock has a market capitalization of $39.65 billion, a PE ratio of 32.07, a price-to-earnings-growth ratio of 3.50 and a beta of 1.34. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 136.32%. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter last year, the firm posted $3.04 EPS. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, sell-side analysts predict that Gartner, Inc. will post 12.5 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Robert W. Baird lifted their target price on shares of Gartner from $579.00 to $605.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. Wells Fargo & Company lowered their price objective on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft boosted their target price on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $525.00 to $600.00 in a report on Friday, January 10th. Finally, Morgan Stanley lowered their price target on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $552.63.

Gartner 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.