Gartner, Inc. (NYSE:IT) Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its position in shares of Gartner, Inc. (NYSE:IT - Free Report) by 11.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,315 shares of the information technology services provider's stock after selling 3,922 shares during the quarter. M&T Bank Corp's holdings in Gartner were worth $12,724,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC purchased a new stake in Gartner during the fourth quarter worth about $309,000. Jones Financial Companies Lllp boosted its holdings in Gartner by 154.3% during the fourth quarter. Jones Financial Companies Lllp now owns 506 shares of the information technology services provider's stock worth $245,000 after buying an additional 307 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Gartner during the fourth quarter worth about $49,000. Proficio Capital Partners LLC purchased a new stake in Gartner during the fourth quarter worth about $95,762,000. Finally, Dorsey & Whitney Trust CO LLC boosted its holdings in Gartner by 2.5% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 826 shares of the information technology services provider's stock worth $400,000 after buying an additional 20 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Stock Down 0.2%

Shares of IT opened at $398.77 on Wednesday. The firm has a market cap of $30.69 billion, a PE ratio of 24.81, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The company's fifty day moving average is $422.21 and its two-hundred day moving average is $453.83. Gartner, Inc. has a fifty-two week low of $366.05 and a fifty-two week high of $584.01. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.64.

Gartner (NYSE:IT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share for the quarter, beating analysts' consensus estimates of $2.72 by $0.26. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Gartner had a net margin of 19.82% and a return on equity of 96.70%. Gartner's revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the business earned $2.93 EPS. Analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current year.

Insiders Place Their Bets

In other Gartner news, CFO Craig Safian sold 3,415 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $450.17, for a total value of $1,537,330.55. Following the transaction, the chief financial officer directly owned 77,890 shares of the company's stock, valued at $35,063,741.30. This trade represents a 4.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Akhil Jain sold 625 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $450.00, for a total value of $281,250.00. Following the completion of the transaction, the executive vice president directly owned 6,548 shares in the company, valued at $2,946,600. This trade represents a 8.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,426 shares of company stock worth $2,430,327. 3.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

IT has been the topic of several research reports. Wells Fargo & Company lowered their price target on shares of Gartner from $401.00 to $400.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. UBS Group lowered their price target on shares of Gartner from $525.00 to $500.00 and set a "buy" rating on the stock in a research report on Wednesday, June 18th. Barclays lowered their price target on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Robert W. Baird lowered their price target on shares of Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Finally, The Goldman Sachs Group lowered their price target on shares of Gartner from $622.00 to $535.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. One equities research 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 data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $515.89.

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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