Fifth Third Bancorp decreased its holdings in Gartner, Inc. (NYSE:IT – Free Report) by 59.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,289 shares of the information technology services provider’s stock after selling 3,370 shares during the period. Fifth Third Bancorp’s holdings in Gartner were worth $1,109,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Czech National Bank lifted its position in Gartner by 6.5% during the fourth quarter. Czech National Bank now owns 16,725 shares of the information technology services provider’s stock worth $8,103,000 after purchasing an additional 1,028 shares during the period. Assetmark Inc. lifted its position in shares of Gartner by 70.0% during the 3rd quarter. Assetmark Inc. now owns 5,144 shares of the information technology services provider’s stock worth $2,607,000 after buying an additional 2,118 shares during the last quarter. ING Groep NV grew its position 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 during the last quarter. Barclays PLC raised its stake in Gartner by 8.6% during the third quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock worth $84,520,000 after acquiring an additional 13,205 shares in the last quarter. Finally, Mizuho Securities USA LLC lifted its holdings in shares of 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 acquiring an additional 64,327 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.
Insider Activity
In other news, Director James C. Smith sold 17,533 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $547.09, for a total transaction of $9,592,128.97. Following the transaction, the director now owns 532,294 shares in the company, valued at approximately $291,212,724.46. This represents a 3.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William James Wartinbee III sold 189 shares of the firm’s 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,583 shares of company stock valued at $19,241,974 in the last ninety days. 3.60% of the stock is owned by company insiders.
Gartner Stock Performance
Gartner (NYSE:IT – Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.05. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. Gartner’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.56 earnings per share. As a group, research analysts forecast that Gartner, Inc. will post 11.87 earnings per share for the current year.
Analyst Ratings Changes
Several equities research analysts recently issued reports on IT shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Morgan Stanley lowered their price target on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research note on Monday. Wells Fargo & Company reduced their price objective on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research report on Friday, January 10th. Finally, Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $525.00 to $600.00 in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $550.75.
Read Our Latest Stock Report on Gartner
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.
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