OLD National Bancorp IN Decreases Stake in Gartner, Inc. (NYSE:IT)

OLD National Bancorp IN lowered its holdings in Gartner, Inc. (NYSE:IT) by 28.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 964 shares of the information technology services provider’s stock after selling 383 shares during the quarter. OLD National Bancorp IN’s holdings in Gartner were worth $435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Morgan Stanley raised its stake in shares of Gartner by 4.6% in the third quarter. Morgan Stanley now owns 2,157,075 shares of the information technology services provider’s stock worth $741,193,000 after purchasing an additional 95,040 shares during the last quarter. Principal Financial Group Inc. increased its position in Gartner by 30.3% during the third quarter. Principal Financial Group Inc. now owns 1,565,046 shares of the information technology services provider’s stock valued at $537,766,000 after acquiring an additional 364,128 shares during the last quarter. Brown Advisory Inc. increased its position in Gartner by 13.9% during the third quarter. Brown Advisory Inc. now owns 1,156,088 shares of the information technology services provider’s stock valued at $397,243,000 after acquiring an additional 141,219 shares during the last quarter. Invesco Ltd. increased its position in Gartner by 6.7% during the third quarter. Invesco Ltd. now owns 740,957 shares of the information technology services provider’s stock valued at $254,600,000 after acquiring an additional 46,425 shares during the last quarter. Finally, Mackenzie Financial Corp increased its position in Gartner by 26.3% during the fourth quarter. Mackenzie Financial Corp now owns 629,969 shares of the information technology services provider’s stock valued at $284,185,000 after acquiring an additional 131,222 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft began coverage on Gartner in a research report on Tuesday, April 16th. They set a “hold” rating and a $507.00 price objective for the company. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. UBS Group raised Gartner from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $484.00 to $550.00 in a research note on Thursday, April 11th. BMO Capital Markets upped their price objective on Gartner from $444.00 to $450.00 and gave the stock a “market perform” rating in a research note on Thursday, February 8th. Finally, Morgan Stanley upped their price objective on Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Gartner has a consensus rating of “Hold” and a consensus price target of $477.60.

Insider Buying and Selling at Gartner

In other news, EVP Akhil Jain sold 250 shares of the stock in a transaction that occurred 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 directly owns 5,239 shares in the company, valued at $2,433,777.45. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Akhil Jain sold 250 shares of the stock in a transaction that occurred 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 directly owns 5,239 shares in the company, valued at $2,433,777.45. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Claire Herkes sold 1,460 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $475.76, for a total value of $694,609.60. Following the completion of the sale, the executive vice president now owns 2,842 shares in the company, valued at $1,352,109.92. The disclosure for this sale can be found here. Insiders have sold a total of 22,952 shares of company stock worth $10,598,070 over the last ninety days. Company insiders own 3.60% of the company’s stock.

Gartner Price Performance

Shares of Gartner stock opened at $451.06 on Thursday. The stock has a 50 day moving average of $464.99 and a 200 day moving average of $437.07. Gartner, Inc. has a 12 month low of $292.60 and a 12 month high of $486.54. The firm has a market cap of $35.17 billion, a PE ratio of 40.78, a PEG ratio of 4.13 and a beta of 1.29. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.60.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.21. Gartner had a return on equity of 156.35% and a net margin of 14.94%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the prior year, the business posted $3.70 earnings per share. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, research analysts expect that Gartner, Inc. will post 11.3 EPS for the current fiscal year.

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.