Dorsey & Whitney Trust CO LLC Increases Holdings in Gartner, Inc. (NYSE:IT)

Dorsey & Whitney Trust CO LLC increased its stake in Gartner, Inc. (NYSE:IT) by 5.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 707 shares of the information technology services provider’s stock after purchasing an additional 37 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Gartner were worth $337,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in IT. Nordea Investment Management AB grew its position in shares of Gartner by 2.0% in the fourth quarter. Nordea Investment Management AB now owns 6,110 shares of the information technology services provider’s stock valued at $2,766,000 after purchasing an additional 121 shares in the last quarter. BKM Wealth Management LLC purchased a new position in shares of Gartner in the fourth quarter valued at $26,000. Fortitude Family Office LLC purchased a new position in shares of Gartner in the fourth quarter valued at $38,000. CX Institutional purchased a new position in shares of Gartner in the fourth quarter valued at $244,000. Finally, Yarbrough Capital LLC purchased a new position in shares of Gartner in the fourth quarter valued at $305,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director James C. Smith sold 10,000 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $439.29, for a total value of $4,392,900.00. Following the completion of the sale, the director now owns 599,074 shares of the company’s stock, valued at approximately $263,167,217.46. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Alwyn Dawkins sold 800 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $454.57, for a total value of $363,656.00. Following the completion of the sale, the executive vice president now owns 50,783 shares of the company’s stock, valued at approximately $23,084,428.31. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James C. Smith sold 10,000 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $439.29, for a total value of $4,392,900.00. Following the transaction, the director now owns 599,074 shares in the company, valued at approximately $263,167,217.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,544 shares of company stock valued at $10,079,813. Insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Gartner in a research report on Tuesday, April 16th. They set a “hold” rating and a $507.00 target price for the company. Morgan Stanley boosted their target price on Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. UBS Group reduced their target price on Gartner from $550.00 to $510.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. BMO Capital Markets reduced their target price on Gartner from $450.00 to $432.00 and set a “market perform” rating for the company in a research report on Thursday, May 2nd. Finally, StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Gartner presently has an average rating of “Hold” and an average price target of $478.50.

Gartner Price Performance

IT stock traded down $0.72 during mid-day trading on Friday, hitting $458.55. 242,952 shares of the stock were exchanged, compared to its average volume of 329,669. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.91 and a quick ratio of 0.91. The business has a fifty day moving average price of $443.64 and a 200 day moving average price of $452.45. Gartner, Inc. has a 12 month low of $323.61 and a 12 month high of $486.54. The stock has a market capitalization of $35.60 billion, a price-to-earnings ratio of 45.63, a PEG ratio of 4.02 and a beta of 1.33.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.40. Gartner had a return on equity of 141.55% and a net margin of 13.35%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the previous year, the company posted $2.88 earnings per share. The company’s revenue was up 4.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Gartner, Inc. will post 11.55 EPS for the current year.

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.