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

M&T Bank Corp decreased its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 11.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in IT. Highview Capital Management LLC DE raised its stake in Gartner by 6.6% during the 1st quarter. Highview Capital Management LLC DE now owns 2,543 shares of the information technology services provider's stock worth $1,067,000 after acquiring an additional 157 shares in the last quarter. EULAV Asset Management boosted its holdings in Gartner by 0.6% during the first quarter. EULAV Asset Management now owns 217,200 shares of the information technology services provider's stock worth $91,168,000 after buying an additional 1,400 shares in the last quarter. TD Private Client Wealth LLC raised its position in Gartner by 1.3% during the first quarter. TD Private Client Wealth LLC now owns 2,942 shares of the information technology services provider's stock worth $1,235,000 after acquiring an additional 37 shares during the last quarter. Wayfinding Financial LLC acquired a new position in Gartner during the first quarter worth about $55,000. Finally, Olde Wealth Management LLC acquired a new position in shares of Gartner in the first quarter valued at approximately $42,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Gartner Stock Performance

IT stock traded down $5.91 during midday trading on Thursday, reaching $388.54. 207,035 shares of the company were exchanged, compared to its average volume of 662,677. Gartner, Inc. has a one year low of $366.05 and a one year 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 firm has a market capitalization of $29.91 billion, a price-to-earnings ratio of 24.18, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The business has a 50-day moving average price of $421.66 and a two-hundred day moving average price of $453.42.

Gartner (NYSE:IT - Get Free Report) last posted 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. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Gartner had a return on equity of 96.70% and a net margin of 19.82%. Gartner's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.93 earnings per share. Equities research analysts forecast that Gartner, Inc. will post 12.5 EPS for the current year.

Insider Activity

In other Gartner news, CFO Craig Safian sold 3,415 shares of Gartner stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $450.17, for a total transaction of $1,537,330.55. Following the completion of the transaction, the chief financial officer owned 77,890 shares of the company's stock, valued at $35,063,741.30. The trade was a 4.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP John J. Rinello sold 109 shares of Gartner stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $436.35, for a total value of $47,562.15. Following the transaction, the senior vice president directly owned 3,280 shares of the company's stock, valued at $1,431,228. The trade was a 3.22% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,426 shares of company stock worth $2,430,327. Company insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on IT shares. UBS Group decreased their price objective on shares of Gartner from $525.00 to $500.00 and set a "buy" rating for the company in a research note on Wednesday, June 18th. Wall Street Zen lowered shares of Gartner from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Robert W. Baird cut their price objective 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. The Goldman Sachs Group dropped 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. Finally, Barclays dropped their target price on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $515.89.

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.