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

Allspring Global Investments Holdings LLC lessened its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 1.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 240,685 shares of the information technology services provider's stock after selling 3,810 shares during the period. Allspring Global Investments Holdings LLC owned about 0.31% of Gartner worth $116,337,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Czech National Bank increased its position in Gartner by 6.5% during the fourth quarter. Czech National Bank now owns 16,725 shares of the information technology services provider's stock worth $8,103,000 after buying an additional 1,028 shares during the last quarter. Assetmark Inc. increased its position in Gartner by 70.0% during the third quarter. Assetmark Inc. now owns 5,144 shares of the information technology services provider's stock worth $2,607,000 after buying an additional 2,118 shares during the last quarter. ING Groep NV increased its position in Gartner by 38.4% during the third quarter. ING Groep NV now owns 10,306 shares of the information technology services provider's stock worth $5,223,000 after buying an additional 2,860 shares during the last quarter. Conestoga Capital Advisors LLC increased its position in Gartner by 1.5% during the fourth quarter. Conestoga Capital Advisors LLC now owns 31,626 shares of the information technology services provider's stock worth $15,322,000 after buying an additional 480 shares during the last quarter. Finally, Barclays PLC increased its position in Gartner by 8.6% during the third quarter. Barclays PLC now owns 166,787 shares of the information technology services provider's stock worth $84,520,000 after buying an additional 13,205 shares during the last quarter. Institutional investors own 91.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IT. StockNews.com raised Gartner from a "hold" rating to a "buy" rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upped their target price on Gartner from $529.00 to $531.00 and gave the company a "hold" rating in a research report on Wednesday, November 6th. Robert W. Baird upped their target price on Gartner from $579.00 to $605.00 and gave the company an "outperform" rating in a research report on Wednesday, February 5th. Barclays upgraded Gartner from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $525.00 to $600.00 in a research note on Friday, January 10th. Finally, Wells Fargo & Company lowered their price objective on Gartner from $470.00 to $460.00 and set an "underweight" rating on the stock in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $552.63.

Gartner Price Performance

Shares of IT stock traded down $1.83 during trading hours on Friday, reaching $515.34. The company's stock had a trading volume of 353,808 shares, compared to its average volume of 480,360. The firm's 50 day simple moving average is $510.09 and its 200-day simple moving average is $508.44. The company has a market capitalization of $39.75 billion, a price-to-earnings ratio of 32.15, a PEG ratio of 3.50 and a beta of 1.34. Gartner, Inc. has a fifty-two week low of $411.15 and a fifty-two week high of $584.01. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31.

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

Insider Buying and Selling at Gartner

In related news, Director James C. Smith sold 5,000 shares of the firm's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $524.02, for a total transaction of $2,620,100.00. Following the sale, the director now owns 509,457 shares of the company's stock, valued at $266,965,657.14. This trade represents a 0.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Claire Herkes sold 411 shares of the firm's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total value of $214,229.64. Following the sale, the executive vice president now directly owns 1,494 shares in the company, valued at approximately $778,732.56. This trade represents a 21.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,690 shares of company stock valued at $2,981,025. 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.