Gartner, Inc. (NYSE:IT) Shares Acquired by CIBC Asset Management Inc



CIBC Asset Management Inc raised its holdings in shares of Gartner, Inc. (NYSE:IT – Get Rating) by 1.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,056 shares of the information technology services provider’s stock after acquiring an additional 77 shares during the quarter. CIBC Asset Management Inc’s holdings in Gartner were worth $2,396,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. boosted its position in shares of Gartner by 10.9% during the 4th quarter. BlackRock Inc. now owns 6,273,247 shares of the information technology services provider’s stock worth $2,097,273,000 after acquiring an additional 615,832 shares in the last quarter. State Street Corp boosted its position in shares of Gartner by 2.1% during the 4th quarter. State Street Corp now owns 3,273,310 shares of the information technology services provider’s stock worth $1,094,333,000 after acquiring an additional 68,873 shares in the last quarter. Invesco Ltd. boosted its position in shares of Gartner by 28.1% during the 4th quarter. Invesco Ltd. now owns 1,223,433 shares of the information technology services provider’s stock worth $409,018,000 after acquiring an additional 268,338 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Gartner by 78.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 795,910 shares of the information technology services provider’s stock worth $266,089,000 after acquiring an additional 349,099 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Gartner during the 4th quarter worth about $249,613,000. 92.05% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Gartner

In other Gartner news, CEO Eugene A. Hall sold 10,425 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock sold at an average price of $294.26, for a total transaction of $3,067,660.50. Following the completion of the sale, the chief executive officer now directly owns 1,167,041 shares of the company’s stock, valued at approximately $343,413,484.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Eugene A. Hall sold 10,425 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock sold at an average price of $294.26, for a total transaction of $3,067,660.50. Following the completion of the transaction, the chief executive officer now directly owns 1,167,041 shares of the company’s stock, valued at approximately $343,413,484.66. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Alwyn Dawkins sold 500 shares of the stock in a transaction that occurred on Monday, May 23rd. The stock sold at an average price of $250.82, for a total value of $125,410.00. Following the transaction, the executive vice president now directly owns 45,596 shares of the company’s stock, valued at $11,436,388.72. The disclosure for this sale can be found here. Insiders sold a total of 17,951 shares of company stock valued at $5,188,596 in the last ninety days. Insiders own 3.70% of the company’s stock.

Gartner Stock Up 0.7%

IT opened at $295.44 on Monday. The business has a 50-day moving average price of $251.55 and a two-hundred day moving average price of $271.85. The company has a quick ratio of 0.70, a current ratio of 0.62 and a debt-to-equity ratio of 20.79. The company has a market cap of $23.79 billion, a PE ratio of 33.31 and a beta of 1.45. Gartner, Inc. has a 52 week low of $221.39 and a 52 week high of $368.99.

Gartner (NYSE:IT – Get Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The information technology services provider reported $2.85 EPS for the quarter, beating the consensus estimate of $2.15 by $0.70. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.32 billion. Gartner had a return on equity of 497.67% and a net margin of 14.42%. The firm’s revenue was up 18.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.24 EPS. As a group, research analysts anticipate that Gartner, Inc. will post 9.08 EPS for the current year.

Gartner declared that its Board of Directors has initiated a share repurchase program on Tuesday, May 3rd that allows the company to buyback $500.00 million in shares. This buyback authorization allows the information technology services provider to repurchase up to 2.2% of its shares through open market purchases. Share buyback programs are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on IT. Wells Fargo & Company upped their price objective on Gartner from $305.00 to $345.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 3rd. Bank of America raised Gartner from a “neutral” rating to a “buy” rating and set a $340.00 target price for the company in a report on Thursday, April 14th. Robert W. Baird boosted their target price on Gartner from $334.00 to $365.00 in a report on Wednesday, August 3rd. Morgan Stanley boosted their target price on Gartner from $274.00 to $300.00 and gave the company an “equal weight” rating in a report on Wednesday, August 3rd. Finally, BMO Capital Markets reduced their target price on Gartner from $315.00 to $265.00 and set a “market perform” rating for the company in a report on Tuesday, June 21st. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Gartner has an average rating of “Moderate Buy” and a consensus target price of $321.67.

Gartner Company Profile

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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 includes on-demand access to published research content, data and benchmarks, and direct access to a network of research experts.

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Institutional Ownership by Quarter for Gartner (NYSE:IT)



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