Zurcher Kantonalbank Zurich Cantonalbank Has $25.93 Million Stock Position in Gartner, Inc. (NYSE:IT)

Key Points

• Zurcher Kantonalbank increased its holdings in Gartner, Inc. by 12.8%, purchasing an additional 7,010 shares to reach a total of 61,771 shares valued at approximately $25.9 million.
• Gartner's stock price has decreased by 0.7%, trading at $349.91, with a market capitalization of $26.93 billion and a 12-month low of $348.64.
• Wall Street analysts have issued mixed ratings on Gartner, with price targets ranging from a low of $345 to a high of $535 and a consensus average target price of $507.56.

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 12.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,771 shares of the information technology services provider's stock after purchasing an additional 7,010 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.08% of Gartner worth $25,928,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. DAVENPORT & Co LLC boosted its position in shares of Gartner by 11.5% during the 1st quarter. DAVENPORT & Co LLC now owns 921 shares of the information technology services provider's stock worth $387,000 after purchasing an additional 95 shares in the last quarter. Three Seasons Wealth LLC acquired a new position in Gartner in the 4th quarter valued at about $731,000. SG Americas Securities LLC increased its stake in shares of Gartner by 3.6% during the 1st quarter. SG Americas Securities LLC now owns 42,389 shares of the information technology services provider's stock valued at $17,792,000 after acquiring an additional 1,484 shares during the last quarter. Brighton Jones LLC acquired a new position in shares of Gartner during the 4th quarter valued at about $309,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Gartner by 1.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 28,612 shares of the information technology services provider's stock valued at $12,009,000 after acquiring an additional 352 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Gartner Price Performance

IT stock traded down $10.12 during trading hours on Friday, hitting $328.53. 613,003 shares of the stock traded hands, compared to its average volume of 694,717. The stock has a 50-day simple moving average of $395.73 and a 200 day simple moving average of $439.06. Gartner, Inc. has a one year low of $328.21 and a one year high of $584.01. The company has a market cap of $25.29 billion, a P/E ratio of 20.49 and a beta of 1.19. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.64.

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

Insider Transactions at Gartner

In related news, CFO Craig Safian sold 3,415 shares of the firm's stock in a transaction that occurred on 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 approximately $35,063,741.30. This trade represents a 4.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John J. Rinello sold 109 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $436.35, for a total value of $47,562.15. Following the completion of the transaction, the senior vice president directly owned 3,280 shares in the company, valued at $1,431,228. The trade was a 3.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,426 shares of company stock worth $2,430,327. 2.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. UBS Group decreased their target price on Gartner from $500.00 to $480.00 and set a "buy" rating for the company in a report on Tuesday, July 15th. Morgan Stanley reduced their target price on Gartner from $490.00 to $455.00 and set an "equal weight" rating for the company in a research note on Thursday. Barclays dropped their price target on Gartner from $510.00 to $475.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. The Goldman Sachs Group dropped their price target on Gartner from $622.00 to $535.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company dropped their target price on Gartner from $400.00 to $345.00 and set an "underweight" rating on the stock in a research report on Friday, July 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Gartner currently has an average rating of "Hold" and a consensus target price of $482.57.

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.