National Bank of Canada FI Has $24.97 Million Position in Gartner, Inc. (NYSE:IT)

Key Points

• National Bank of Canada FI significantly increased its position in Gartner, Inc. by 114.0% in Q1, acquiring a total of 59,492 shares worth approximately $24.97 million.
• Several institutional investors are actively adjusting their stakes in Gartner, with GAMMA Investing LLC increasing its position by an astounding 40,841.0% during the same period.
• Gartner's stock is currently experiencing downward pressure, opening at $229.00, with multiple analysts reducing their price targets, reflecting a consensus "Hold" rating.

National Bank of Canada FI lifted its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 114.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 59,492 shares of the information technology services provider's stock after purchasing an additional 31,686 shares during the period. National Bank of Canada FI owned about 0.08% of Gartner worth $24,971,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of IT. Brighton Jones LLC bought a new position in shares of Gartner during the fourth quarter worth about $309,000. FIL Ltd lifted its holdings in Gartner by 48.7% in the fourth quarter. FIL Ltd now owns 17,342 shares of the information technology services provider's stock worth $8,402,000 after acquiring an additional 5,679 shares during the last quarter. Advisory Services Network LLC lifted its holdings in Gartner by 27.0% in the fourth quarter. Advisory Services Network LLC now owns 1,883 shares of the information technology services provider's stock worth $912,000 after acquiring an additional 400 shares during the last quarter. Capital Fund Management S.A. bought a new position in Gartner in the fourth quarter worth about $6,660,000. Finally, Sagespring Wealth Partners LLC bought a new position in Gartner in the fourth quarter worth about $282,000. Institutional investors own 91.51% of the company's stock.

Insider Activity

In other news, EVP Akhil Jain sold 625 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $450.00, for a total transaction of $281,250.00. Following the transaction, the executive vice president owned 6,548 shares in the company, valued at approximately $2,946,600. The trade was a 8.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.30% of the company's stock.

Gartner Stock Performance

IT traded up $0.68 during trading on Thursday, hitting $243.34. The stock had a trading volume of 1,646,294 shares, compared to its average volume of 791,044. The firm has a market cap of $18.73 billion, a PE ratio of 14.98 and a beta of 1.19. Gartner, Inc. has a 12 month low of $223.65 and a 12 month high of $584.01. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.61. The company has a 50 day simple moving average of $363.58 and a 200-day simple moving average of $422.88.

Gartner (NYSE:IT - Get Free Report) last announced its earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 EPS for the quarter, topping the consensus estimate of $3.38 by $0.15. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.68 billion. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The business's quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $3.22 EPS. Analysts expect that Gartner, Inc. will post 12.5 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. BMO Capital Markets cut their target price on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating on the stock in a report on Wednesday, August 6th. Barclays dropped their price target on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 6th. UBS Group restated a "neutral" rating and issued a $270.00 price target (down previously from $480.00) on shares of Gartner in a research note on Wednesday, August 6th. Wells Fargo & Company dropped their price target on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a research note on Wednesday, August 6th. Finally, Morgan Stanley dropped their price target on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $369.25.

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.