Comerica Bank Sells 1,518 Shares of Gartner, Inc. (NYSE:IT)

Comerica Bank lessened its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 5.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,835 shares of the information technology services provider's stock after selling 1,518 shares during the period. Comerica Bank's holdings in Gartner were worth $13,001,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Gartner in the 4th quarter valued at about $460,541,000. Madison Investment Advisors LLC purchased a new position in shares of Gartner in the fourth quarter worth about $244,799,000. Raymond James Financial Inc. bought a new stake in shares of Gartner in the fourth quarter valued at approximately $165,476,000. FMR LLC lifted its stake in shares of Gartner by 8.6% during the 4th quarter. FMR LLC now owns 2,822,122 shares of the information technology services provider's stock valued at $1,367,233,000 after buying an additional 223,087 shares in the last quarter. Finally, Fisher Funds Management LTD bought a new position in Gartner in the 4th quarter worth approximately $97,518,000. Institutional investors own 91.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on IT. UBS Group dropped their target price on Gartner from $565.00 to $500.00 and set a "buy" rating on the stock in a research report on Tuesday, March 25th. Barclays dropped their price objective on Gartner from $510.00 to $475.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Gartner in a report on Tuesday, February 4th. Morgan Stanley lowered their price target on shares of Gartner from $564.00 to $555.00 and set an "equal weight" rating on the stock in a report on Thursday, January 16th. Finally, Robert W. Baird cut their price objective on shares of Gartner from $605.00 to $557.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $513.50.

Insider Activity

In other Gartner news, Director Eileen Serra sold 1,200 shares of the business'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 completion of the sale, the director now directly owns 1,627 shares of the company's stock, valued at $796,855.79. The trade was a 42.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP John J. Rinello sold 90 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the sale, the senior vice president now owns 3,259 shares of the company's stock, valued at approximately $1,728,932.09. The trade was a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company's stock.

Gartner Price Performance

IT traded up $0.35 on Monday, reaching $427.84. The company had a trading volume of 662,109 shares, compared to its average volume of 448,721. Gartner, Inc. has a 52-week low of $366.05 and a 52-week high of $584.01. The company has a market cap of $32.87 billion, a price-to-earnings ratio of 26.69, a P/E/G ratio of 3.30 and a beta of 1.26. 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 business has a 50 day simple moving average of $428.42 and a 200 day simple moving average of $484.35.

Gartner (NYSE:IT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.22 by $2.23. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The firm's revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.04 EPS. As a group, sell-side analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current 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.