Norden Group LLC Reduces Holdings in Gartner, Inc. (NYSE:IT)

Norden Group LLC decreased its position in shares of Gartner, Inc. (NYSE:IT) by 9.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,227 shares of the information technology services provider’s stock after selling 335 shares during the period. Norden Group LLC’s holdings in Gartner were worth $1,449,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC acquired a new position in Gartner during the 4th quarter worth $27,000. DSM Capital Partners LLC acquired a new position in Gartner during the 4th quarter worth $32,000. Central Pacific Bank Trust Division acquired a new position in Gartner during the 1st quarter worth $36,000. Crewe Advisors LLC boosted its holdings in shares of Gartner by 223.3% in the 2nd quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after buying an additional 67 shares during the period. Finally, J.Safra Asset Management Corp boosted its holdings in shares of Gartner by 58.7% in the 1st quarter. J.Safra Asset Management Corp now owns 146 shares of the information technology services provider’s stock valued at $70,000 after buying an additional 54 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on IT shares. Bank of America lifted their price target on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. BMO Capital Markets lifted their price target on shares of Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Robert W. Baird lifted their price target on shares of Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Wells Fargo & Company raised shares of Gartner to a “strong sell” rating in a research note on Tuesday, August 13th. Finally, UBS Group boosted their target price on shares of Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $521.00.

Gartner Price Performance

Shares of IT stock traded up $0.22 during midday trading on Friday, reaching $483.68. 356,677 shares of the company were exchanged, compared to its average volume of 391,639. Gartner, Inc. has a 12 month low of $323.61 and a 12 month high of $509.15. The company has a market cap of $37.55 billion, a P/E ratio of 48.13, a PEG ratio of 3.83 and a beta of 1.32. The company’s 50 day moving average price is $471.55 and its two-hundred day moving average price is $458.93. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.20. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the firm earned $2.85 EPS. Gartner’s revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts expect that Gartner, Inc. will post 11.59 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Scott Hensel sold 5,580 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $490.00, for a total value of $2,734,200.00. Following the sale, the executive vice president now directly owns 19,724 shares in the company, valued at approximately $9,664,760. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Scott Hensel sold 5,580 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $490.00, for a total value of $2,734,200.00. Following the sale, the executive vice president now directly owns 19,724 shares in the company, valued at approximately $9,664,760. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Yvonne Genovese sold 443 shares of Gartner stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $483.62, for a total transaction of $214,243.66. Following the completion of the transaction, the executive vice president now directly owns 1,959 shares in the company, valued at $947,411.58. The disclosure for this sale can be found here. Insiders have sold 27,998 shares of company stock worth $13,834,898 in the last ninety days. 3.60% of the stock is currently 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.