KLP Kapitalforvaltning AS Purchases New Shares in Gartner, Inc. (NYSE:IT)

KLP Kapitalforvaltning AS bought a new stake in Gartner, Inc. (NYSE:IT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 26,190 shares of the information technology services provider’s stock, valued at approximately $12,688,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in IT. Principal Financial Group Inc. raised its position in shares of Gartner by 5.5% during the third quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock worth $1,014,099,000 after acquiring an additional 103,814 shares during the last quarter. Citizens Financial Group Inc. RI raised its position in shares of Gartner by 20.2% during the third quarter. Citizens Financial Group Inc. RI now owns 947 shares of the information technology services provider’s stock worth $480,000 after acquiring an additional 159 shares during the last quarter. Landscape Capital Management L.L.C. bought a new stake in shares of Gartner during the third quarter worth $422,000. Raymond James Trust N.A. raised its position in shares of Gartner by 2.9% during the third quarter. Raymond James Trust N.A. now owns 1,454 shares of the information technology services provider’s stock worth $737,000 after acquiring an additional 41 shares during the last quarter. Finally, GenTrust LLC bought a new stake in shares of Gartner during the third quarter worth $210,000. Institutional investors own 91.51% of the company’s stock.

Insider Transactions at Gartner

In other news, Director Eileen Serra sold 1,200 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the transaction, the director now directly owns 1,627 shares of the company’s stock, valued at $796,855.79. This represents a 42.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John J. Rinello sold 90 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the transaction, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.60% of the stock is owned by insiders.

Gartner Stock Up 2.7 %

NYSE:IT opened at $430.03 on Monday. Gartner, Inc. has a 1 year low of $409.50 and a 1 year high of $584.01. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The stock has a market cap of $33.03 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 3.30 and a beta of 1.29. The stock has a 50-day moving average price of $502.37 and a two-hundred day moving average price of $507.99.

Gartner (NYSE:IT) last posted its 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. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The company’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.04 earnings per share. As a group, equities analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on IT. Morgan Stanley dropped their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Wells Fargo & Company dropped their price objective on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a report on Friday, January 10th. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a report on Friday. The Goldman Sachs Group reiterated a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. Finally, Robert W. Baird dropped their price objective on Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a report on Friday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $546.63.

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.