Deutsche Bank AG Increases Stock Position in Gartner, Inc. (NYSE:IT)

Deutsche Bank AG grew its stake in Gartner, Inc. (NYSE:IT) by 10.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 313,344 shares of the information technology services provider’s stock after buying an additional 30,425 shares during the period. Deutsche Bank AG’s holdings in Gartner were worth $151,806,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in IT. Cary Street Partners Financial LLC bought a new position in Gartner in the fourth quarter valued at $27,000. Kestra Investment Management LLC bought a new position in shares of Gartner during the 4th quarter valued at about $29,000. Itau Unibanco Holding S.A. raised its holdings in shares of Gartner by 453.3% during the 4th quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider’s stock valued at $40,000 after buying an additional 68 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Gartner in the 4th quarter worth approximately $49,000. Finally, Promus Capital LLC purchased a new stake in Gartner in the fourth quarter worth approximately $57,000. Institutional investors own 91.51% of the company’s stock.

Insiders Place Their Bets

In related news, SVP John J. Rinello sold 90 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $530.51, for a total value of $47,745.90. Following the sale, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This represents a 2.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eileen Serra sold 1,200 shares of the firm’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 $796,855.79. This represents a 42.45 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,138 shares of company stock worth $1,005,606. Company insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Gartner from $401.00 to $400.00 and set an “underweight” rating for the company in a report on Thursday, May 1st. The Goldman Sachs Group cut their price target on shares of Gartner from $622.00 to $535.00 and set a “buy” rating for the company in a research report on Wednesday. Morgan Stanley decreased their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Barclays dropped their target price on Gartner from $510.00 to $475.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Finally, UBS Group lifted their price target on Gartner from $500.00 to $525.00 and gave the stock a “buy” rating in a research note on Wednesday. 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 stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $518.67.

Gartner Price Performance

Shares of Gartner stock opened at $432.12 on Friday. The company has a market cap of $33.19 billion, a PE ratio of 26.96, a P/E/G ratio of 3.30 and a beta of 1.24. The business has a 50 day moving average of $423.97 and a 200 day moving average of $482.39. Gartner, Inc. has a 52 week low of $366.05 and a 52 week high of $584.01. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, topping the consensus estimate of $2.72 by $0.26. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the company posted $2.93 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, equities research analysts forecast that Gartner, Inc. will post 12.5 earnings per share 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.