M&T Bank Corp Lowers Holdings in Gartner, Inc. (NYSE:IT)

M&T Bank Corp trimmed its holdings in Gartner, Inc. (NYSE:IT) by 11.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,271 shares of the information technology services provider’s stock after selling 4,626 shares during the period. M&T Bank Corp’s holdings in Gartner were worth $18,888,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Barclays PLC lifted its position in shares of Gartner by 8.6% in the third quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock valued at $84,520,000 after acquiring an additional 13,205 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Gartner by 9.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 41,256 shares of the information technology services provider’s stock valued at $20,907,000 after acquiring an additional 3,595 shares in the last quarter. Northeast Financial Consultants Inc bought a new stake in shares of Gartner in the third quarter worth about $203,000. Orion Portfolio Solutions LLC increased its holdings in shares of Gartner by 5.3% in the third quarter. Orion Portfolio Solutions LLC now owns 23,973 shares of the information technology services provider’s stock worth $12,149,000 after purchasing an additional 1,212 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Gartner by 45.4% in the third quarter. National Bank of Canada FI now owns 57,083 shares of the information technology services provider’s stock worth $28,927,000 after purchasing an additional 17,837 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Gartner Trading Down 0.4 %

IT opened at $512.62 on Wednesday. The stock has a market cap of $39.54 billion, a price-to-earnings ratio of 37.80, a P/E/G ratio of 3.23 and a beta of 1.31. The stock’s 50 day moving average price is $521.90 and its 200-day moving average price is $487.63. Gartner, Inc. has a one year low of $411.15 and a one year high of $559.00. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02.

Gartner (NYSE:IT) last released its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.56 earnings per share. On average, equities analysts forecast that Gartner, Inc. will post 11.89 EPS for the current year.

Wall Street Analyst Weigh In

IT has been the topic of several research reports. Wells Fargo & Company lifted their target price on Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. Morgan Stanley lifted their target price on Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Robert W. Baird lifted their target price on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, Barclays boosted their price objective on Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $539.25.

Insider Activity at Gartner

In other Gartner news, EVP William James Wartinbee III sold 189 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $523.54, for a total transaction of $98,949.06. Following the completion of the sale, the executive vice president now owns 7,311 shares in the company, valued at $3,827,600.94. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Claire Herkes sold 478 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $506.01, for a total value of $241,872.78. Following the sale, the executive vice president now owns 1,905 shares of the company’s stock, valued at approximately $963,949.05. This represents a 20.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,121 shares of company stock worth $36,697,770. Company insiders own 3.60% of the company’s stock.

Gartner 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.