KLP Kapitalforvaltning AS Takes $12.69 Million Position in Gartner, Inc. (NYSE:IT)

KLP Kapitalforvaltning AS bought a new stake in Gartner, Inc. (NYSE:IT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 26,190 shares of the information technology services provider's stock, valued at approximately $12,688,000.

A number of other large investors also recently added to or reduced their stakes in the company. Kestra Investment Management LLC purchased a new position in shares of Gartner in the fourth quarter valued at approximately $29,000. True Wealth Design LLC lifted its holdings in Gartner by 2,350.0% during the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider's stock worth $50,000 after buying an additional 94 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Gartner in the 4th quarter valued at approximately $49,000. Promus Capital LLC acquired a new position in shares of Gartner in the fourth quarter worth $57,000. Finally, Global Retirement Partners LLC grew its stake in shares of Gartner by 14.0% in the fourth quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider's stock worth $134,000 after acquiring an additional 34 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Stock Performance

Shares of IT traded down $8.33 during mid-day trading on Tuesday, reaching $421.46. 1,383,646 shares of the company's stock were exchanged, compared to its average volume of 394,755. The business's fifty day simple moving average is $499.54 and its 200-day simple moving average is $507.17. The stock has a market capitalization of $32.38 billion, a PE ratio of 26.29, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29. Gartner, Inc. has a 52-week low of $409.50 and a 52-week high of $584.01. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06.

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Gartner (NYSE:IT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same period last year, the firm posted $3.04 EPS. Gartner's revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities research analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on IT. The Goldman Sachs Group reissued a "buy" rating on shares of Gartner in a research report on Tuesday, February 4th. Robert W. Baird cut their price target on Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a research note on Friday. Morgan Stanley lowered their price objective on Gartner from $564.00 to $555.00 and set an "equal weight" rating for the company in a research report on Thursday, January 16th. StockNews.com cut Gartner from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Barclays raised Gartner from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $525.00 to $600.00 in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $536.63.

Insider Buying and Selling at Gartner

In other Gartner news, Director Eileen Serra sold 1,200 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $489.77, for a total value of $587,724.00. Following the transaction, the director now directly owns 1,627 shares of the company's stock, valued at approximately $796,855.79. The trade was a 42.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP John J. Rinello sold 90 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the sale, the senior vice president now owns 3,259 shares of the company's stock, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is 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.