Czech National Bank Increases Position in Gartner, Inc. (NYSE:IT)

Czech National Bank increased its stake in shares of Gartner, Inc. (NYSE:IT) by 6.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,725 shares of the information technology services provider’s stock after purchasing an additional 1,028 shares during the quarter. Czech National Bank’s holdings in Gartner were worth $8,103,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Assetmark Inc. lifted its position in shares of Gartner by 70.0% during the third quarter. Assetmark Inc. now owns 5,144 shares of the information technology services provider’s stock valued at $2,607,000 after buying an additional 2,118 shares during the last quarter. ING Groep NV boosted its stake in Gartner by 38.4% in the third quarter. ING Groep NV now owns 10,306 shares of the information technology services provider’s stock valued at $5,223,000 after acquiring an additional 2,860 shares in the last quarter. Barclays PLC boosted its stake in Gartner by 8.6% in the third quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock valued at $84,520,000 after acquiring an additional 13,205 shares in the last quarter. Mizuho Securities USA LLC grew its holdings in Gartner by 1,074.8% in the third quarter. Mizuho Securities USA LLC now owns 70,312 shares of the information technology services provider’s stock worth $35,631,000 after purchasing an additional 64,327 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Gartner during the third quarter worth $23,311,000. Institutional investors own 91.51% of the company’s stock.

Insider Transactions at Gartner

In other news, Director James C. Smith sold 10,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $535.76, for a total transaction of $5,357,600.00. Following the sale, the director now directly owns 554,274 shares of the company’s stock, valued at $296,957,838.24. This represents a 1.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP William James Wartinbee III sold 189 shares of Gartner stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $523.54, for a total value of $98,949.06. Following the completion of the transaction, the executive vice president now owns 7,311 shares of the company’s stock, valued at approximately $3,827,600.94. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,583 shares of company stock worth $19,241,974 over the last quarter. 3.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on IT shares. Robert W. Baird boosted their target price on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Wells Fargo & Company dropped their target price on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research report on Friday, January 10th. Finally, StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Gartner has a consensus rating of “Hold” and a consensus price target of $551.88.

Gartner Stock Performance

Shares of NYSE IT opened at $499.80 on Wednesday. The stock has a market cap of $38.55 billion, a price-to-earnings ratio of 36.86, a PEG ratio of 3.18 and a beta of 1.33. Gartner, Inc. has a 12 month low of $411.15 and a 12 month high of $559.00. The company has a 50 day simple moving average of $509.24 and a two-hundred day simple moving average of $497.32. 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) last posted 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 company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.56 earnings per share. As a group, analysts predict that Gartner, Inc. will post 11.87 earnings per share for the current year.

Gartner Company 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.