Forsta AP Fonden Sells 4,600 Shares of Gartner, Inc. (NYSE:IT)

Forsta AP Fonden lessened its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 14.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,000 shares of the information technology services provider's stock after selling 4,600 shares during the quarter. Forsta AP Fonden's holdings in Gartner were worth $13,081,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Public Sector Pension Investment Board boosted its stake in Gartner by 66.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 2,930 shares of the information technology services provider's stock worth $1,316,000 after buying an additional 1,165 shares during the last quarter. Cetera Investment Advisers grew its holdings in Gartner by 1.1% in the second quarter. Cetera Investment Advisers now owns 21,679 shares of the information technology services provider's stock valued at $9,735,000 after purchasing an additional 226 shares during the period. New Century Financial Group LLC acquired a new position in Gartner during the second quarter worth approximately $260,000. Sanctuary Advisors LLC purchased a new position in Gartner during the second quarter worth approximately $3,344,000. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of Gartner by 1.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 2,558 shares of the information technology services provider's stock valued at $1,296,000 after purchasing an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Gartner Stock Performance

Shares of NYSE:IT traded up $10.18 during trading hours on Thursday, hitting $548.17. The stock had a trading volume of 70,339 shares, compared to its average volume of 425,111. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02. The stock's fifty day simple moving average is $506.85 and its 200 day simple moving average is $502.86. The firm has a market capitalization of $42.28 billion, a price-to-earnings ratio of 40.43, a PEG ratio of 2.92 and a beta of 1.33. Gartner, Inc. has a 1-year low of $411.15 and a 1-year high of $559.00.

Gartner (NYSE:IT - Get Free Report) last announced its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.45 by $0.05. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. Gartner's revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.56 EPS. Sell-side analysts anticipate that Gartner, Inc. will post 11.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on IT. Morgan Stanley cut their target price on Gartner from $564.00 to $555.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 16th. StockNews.com upgraded Gartner from a "hold" rating to a "buy" rating in a report on Monday. Robert W. Baird increased their target price on Gartner from $565.00 to $590.00 and gave the company an "outperform" rating in a research note on Wednesday, November 6th. Barclays raised shares of Gartner from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $525.00 to $600.00 in a research report on Friday, January 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Gartner from $529.00 to $531.00 and gave the stock a "hold" rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $550.75.

Insiders Place Their Bets

In other news, Director James C. Smith sold 10,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $535.76, for a total transaction of $5,357,600.00. Following the transaction, the director now owns 554,274 shares of the company's stock, valued at approximately $296,957,838.24. This represents a 1.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Claire Herkes sold 411 shares of the company's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $521.24, for a total transaction of $214,229.64. Following the sale, the executive vice president now directly owns 1,494 shares of the company's stock, valued at approximately $778,732.56. This represents a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,583 shares of company stock worth $19,241,974 over the last ninety days. 3.60% of the stock is currently owned by company 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.