Nomura Asset Management Co. Ltd. Grows Stake in Gartner, Inc. (NYSE:IT)

Nomura Asset Management Co. Ltd. increased its position in Gartner, Inc. (NYSE:IT) by 3.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,636 shares of the information technology services provider’s stock after acquiring an additional 1,380 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.06% of Gartner worth $20,656,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in shares of Gartner by 5.5% during the 3rd quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock valued at $1,014,099,000 after purchasing an additional 103,814 shares during the period. D.A. Davidson & CO. grew its position in Gartner by 4.2% during the third quarter. D.A. Davidson & CO. now owns 1,108 shares of the information technology services provider’s stock valued at $561,000 after buying an additional 45 shares during the period. CreativeOne Wealth LLC purchased a new stake in Gartner during the third quarter valued at approximately $229,000. Fiduciary Trust Co raised its position in Gartner by 7.2% in the third quarter. Fiduciary Trust Co now owns 3,761 shares of the information technology services provider’s stock worth $1,906,000 after acquiring an additional 252 shares during the period. Finally, Public Sector Pension Investment Board boosted its stake in shares of Gartner by 13.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,330 shares of the information technology services provider’s stock worth $1,688,000 after acquiring an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Trading Down 1.5 %

Shares of IT opened at $418.57 on Friday. Gartner, Inc. has a 1 year low of $409.50 and a 1 year high of $584.01. The company has a 50 day simple moving average of $494.18 and a two-hundred day simple moving average of $505.57. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market cap of $32.15 billion, a P/E ratio of 26.11, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 in the previous year, the firm posted $3.04 EPS. Gartner’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, equities analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on IT. Wells Fargo & Company reduced their price objective on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. UBS Group lowered their price objective on Gartner from $565.00 to $500.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $525.00 to $600.00 in a report on Friday, January 10th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $536.63.

Insider Buying and Selling

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

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.