Gartner, Inc. (NYSE:IT) Position Reduced by M&T Bank Corp

M&T Bank Corp decreased its position in shares of Gartner, Inc. (NYSE:IT) by 8.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,237 shares of the information technology services provider’s stock after selling 3,034 shares during the period. M&T Bank Corp’s holdings in Gartner were worth $16,587,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Czech National Bank increased its holdings in shares of Gartner by 6.5% in the fourth quarter. Czech National Bank now owns 16,725 shares of the information technology services provider’s stock valued at $8,103,000 after buying an additional 1,028 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Gartner by 70.0% in the third quarter. Assetmark Inc. now owns 5,144 shares of the information technology services provider’s stock valued at $2,607,000 after buying an additional 2,118 shares in the last quarter. Entropy Technologies LP bought a new position in shares of Gartner in the fourth quarter valued at $366,000. D.A. Davidson & CO. increased its holdings in shares of Gartner by 2.6% in the fourth quarter. D.A. Davidson & CO. now owns 1,137 shares of the information technology services provider’s stock valued at $551,000 after buying an additional 29 shares in the last quarter. Finally, ING Groep NV increased its holdings in shares of 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 buying an additional 2,860 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on IT shares. Morgan Stanley dropped their price target on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Robert W. Baird lifted their price objective on shares of Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group reiterated a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. Finally, Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $525.00 to $600.00 in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $552.63.

Gartner Trading Up 1.7 %

Gartner stock opened at $490.25 on Thursday. The company’s fifty day simple moving average is $510.05 and its 200-day simple moving average is $510.31. 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, Inc. has a 12 month low of $411.15 and a 12 month high of $584.01. The stock has a market cap of $37.66 billion, a P/E ratio of 30.58, a P/E/G ratio of 3.30 and a beta of 1.34.

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

Insider Activity

In related news, EVP William James Wartinbee III sold 189 shares of the company’s stock in a transaction on 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 directly owns 7,311 shares in the company, valued at approximately $3,827,600.94. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Eileen Serra sold 1,200 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 1,627 shares of the company’s stock, valued at $796,855.79. This represents a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,479 shares of company stock worth $734,419 in the last ninety days. Corporate insiders own 3.60% of the company’s stock.

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.