Allianz Asset Management GmbH Acquires 15,573 Shares of Gartner, Inc. (NYSE:IT)

Allianz Asset Management GmbH lifted its holdings in shares of Gartner, Inc. (NYSE:IT) by 35.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 59,385 shares of the information technology services provider’s stock after purchasing an additional 15,573 shares during the period. Allianz Asset Management GmbH owned 0.08% of Gartner worth $28,770,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in IT. Eastern Bank bought a new stake in shares of Gartner during the third quarter worth $26,000. Kestra Investment Management LLC acquired a new position in shares of Gartner during the fourth quarter valued at $29,000. Ashton Thomas Securities LLC acquired a new position in shares of Gartner during the third quarter valued at $44,000. True Wealth Design LLC lifted its stake in shares of Gartner by 2,350.0% during the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock valued at $50,000 after acquiring an additional 94 shares during the period. Finally, Fortitude Family Office LLC lifted its stake in shares of Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after acquiring an additional 20 shares during the period. Institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling at Gartner

In other Gartner news, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 3,259 shares in the company, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Claire Herkes sold 411 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total value of $214,229.64. Following the completion of the sale, the executive vice president now directly owns 1,494 shares of the company’s stock, valued at approximately $778,732.56. The trade was a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,690 shares of company stock worth $2,981,025 over the last ninety days. 3.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on IT shares. Robert W. Baird upped their price target on Gartner from $579.00 to $605.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Morgan Stanley cut their price target on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. 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 research note on Friday, January 10th. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company cut their target price on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $552.63.

Gartner Stock Down 3.1 %

NYSE:IT opened at $487.44 on Monday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market cap of $37.44 billion, a PE ratio of 30.41, a PEG ratio of 3.30 and a beta of 1.34. Gartner, Inc. has a 52-week low of $411.15 and a 52-week high of $584.01. The stock has a 50-day simple moving average of $509.42 and a 200 day simple moving average of $509.60.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.22 by $2.23. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.69 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same period last year, the company earned $3.04 earnings per share. On average, sell-side analysts expect that Gartner, Inc. will post 12.5 EPS for the current fiscal 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.