Fifth Third Bancorp Decreases Stock Holdings in Gartner, Inc. (NYSE:IT)

Fifth Third Bancorp decreased its position in Gartner, Inc. (NYSE:IT - Free Report) by 59.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,289 shares of the information technology services provider's stock after selling 3,370 shares during the period. Fifth Third Bancorp's holdings in Gartner were worth $1,109,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Baron Wealth Management LLC grew its holdings in Gartner by 4.1% during the 3rd quarter. Baron Wealth Management LLC now owns 481 shares of the information technology services provider's stock worth $244,000 after acquiring an additional 19 shares during the period. Fortitude Family Office LLC boosted its holdings in shares of Gartner by 23.8% in the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider's stock valued at $53,000 after buying an additional 20 shares during the period. Harbor Capital Advisors Inc. increased its position in shares of Gartner by 2.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 917 shares of the information technology services provider's stock worth $444,000 after acquiring an additional 22 shares in the last quarter. Trust Point Inc. raised its holdings in shares of 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 during the period. Finally, CX Institutional lifted its position in Gartner by 2.0% in the 3rd quarter. CX Institutional now owns 1,197 shares of the information technology services provider's stock valued at $607,000 after acquiring an additional 24 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Gartner Stock Up 1.8 %

Shares of NYSE:IT traded up $9.74 during mid-day trading on Thursday, hitting $547.73. 92,761 shares of the company traded hands, compared to its average volume of 426,397. The stock has a market cap of $42.25 billion, a P/E ratio of 40.42, a P/E/G ratio of 2.92 and a beta of 1.33. The stock has a 50-day moving average price of $506.85 and a two-hundred day moving average price of $502.86. Gartner, Inc. has a 12-month low of $411.15 and a 12-month high of $559.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31.

Gartner (NYSE:IT - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.05. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.48 billion. During the same quarter in the previous year, the firm earned $2.56 earnings per share. The business's revenue was up 5.4% on a year-over-year basis. On average, equities research analysts forecast that Gartner, Inc. will post 11.87 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. StockNews.com raised Gartner from a "hold" rating to a "buy" rating in a research report on Monday. Wells Fargo & Company reduced their price target on Gartner from $470.00 to $460.00 and set an "underweight" rating on the stock in a research report on Friday, January 10th. Barclays upgraded Gartner from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $525.00 to $600.00 in a research report on Friday, January 10th. Robert W. Baird raised their price target on Gartner from $565.00 to $590.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Gartner from $529.00 to $531.00 and gave the company a "hold" rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Gartner currently has a consensus rating of "Hold" and an average price target of $550.75.

Insiders Place Their Bets

In related news, Director James C. Smith sold 10,000 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $535.76, for a total value of $5,357,600.00. Following the transaction, the director now directly owns 554,274 shares of the company's stock, valued at approximately $296,957,838.24. This trade represents a 1.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William James Wartinbee III sold 189 shares of Gartner stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $523.54, for a total transaction of $98,949.06. Following the transaction, the executive vice president now directly owns 7,311 shares in the company, valued at $3,827,600.94. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,583 shares of company stock valued at $19,241,974. 3.60% of the stock is currently owned by corporate insiders.

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.