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M&T Bank Corp Sells 3,922 Shares of Gartner, Inc. (NYSE:IT)

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M&T Bank Corp cut its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 11.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,315 shares of the information technology services provider's stock after selling 3,922 shares during the period. M&T Bank Corp's holdings in Gartner were worth $12,724,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in IT. Brighton Jones LLC acquired a new stake in Gartner during the fourth quarter worth approximately $309,000. Jones Financial Companies Lllp grew its stake 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. acquired a new stake in Gartner during the fourth quarter worth about $49,000. Proficio Capital Partners LLC acquired a new stake in Gartner during the fourth quarter worth about $95,762,000. Finally, Dorsey & Whitney Trust CO LLC boosted its position in shares of Gartner by 2.5% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 826 shares of the information technology services provider's stock worth $400,000 after acquiring an additional 20 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Insider Activity at Gartner

In other Gartner news, EVP Robin B. Kranich sold 739 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $436.50, for a total transaction of $322,573.50. Following the transaction, the executive vice president directly owned 20,464 shares in the company, valued at approximately $8,932,536. This represents a 3.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Akhil Jain sold 625 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $450.00, for a total transaction of $281,250.00. Following 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 position. The disclosure for this sale can be found here. Insiders have sold 5,426 shares of company stock worth $2,430,327 over the last quarter. 3.60% of the stock is owned by company insiders.

Gartner Trading Down 1.4%

Shares of Gartner stock traded down $5.50 during midday trading on Wednesday, reaching $393.65. The company had a trading volume of 626,117 shares, compared to its average volume of 508,044. The firm has a market cap of $30.30 billion, a PE ratio of 24.50, a P/E/G ratio of 2.59 and a beta of 1.19. Gartner, Inc. has a fifty-two week low of $366.05 and a fifty-two week high of $584.01. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a fifty day moving average price of $422.21 and a 200 day moving average price of $453.83.

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on IT shares. Wall Street Zen lowered Gartner from a "buy" rating to a "hold" rating in a research note on Friday, March 21st. Wells Fargo & Company reduced their price target on shares of Gartner from $401.00 to $400.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. The Goldman Sachs Group reduced their price target on shares of Gartner from $622.00 to $535.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Barclays cut their target price 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. Finally, Robert W. Baird cut their price objective on Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Gartner presently has an average rating of "Hold" and an average target price of $515.89.

Check Out Our Latest Research Report on IT

Gartner Profile

(Free Report)

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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