National Bank of Canada FI Lowers Stock Position in Gartner, Inc. (NYSE:IT)

National Bank of Canada FI cut its stake in shares of Gartner, Inc. (NYSE:IT) by 51.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,806 shares of the information technology services provider’s stock after selling 29,277 shares during the quarter. National Bank of Canada FI’s holdings in Gartner were worth $13,466,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kestra Investment Management LLC purchased a new position in shares of Gartner in the fourth quarter valued at about $29,000. SBI Securities Co. Ltd. purchased a new position in Gartner in the 4th quarter worth approximately $49,000. Promus Capital LLC purchased a new position in Gartner in the 4th quarter worth approximately $57,000. Global Retirement Partners LLC boosted its stake in Gartner by 14.0% in the 4th quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider’s stock worth $134,000 after purchasing an additional 34 shares during the period. Finally, Hanson & Doremus Investment Management purchased a new stake in Gartner during the 4th quarter valued at approximately $145,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IT has been the topic of several research analyst reports. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a report on Friday, March 21st. UBS Group dropped their price objective on shares of Gartner from $565.00 to $500.00 and set a “buy” rating for the company in a report on Tuesday, March 25th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. Wells Fargo & Company dropped their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. Finally, Barclays cut their price target on Gartner from $600.00 to $510.00 and set an “overweight” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Gartner currently has a consensus rating of “Hold” and a consensus price target of $525.38.

Insider Buying and Selling

In other news, Director Eileen Serra sold 1,200 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $489.77, for a total value of $587,724.00. Following the sale, the director now directly owns 1,627 shares in the company, valued at approximately $796,855.79. This represents a 42.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $530.51, for a total value of $47,745.90. Following the sale, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This represents a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by corporate insiders.

Gartner Price Performance

Shares of Gartner stock opened at $383.12 on Friday. The stock has a market cap of $29.43 billion, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a 50 day moving average price of $482.71 and a 200-day moving average price of $502.19. Gartner, Inc. has a one year low of $382.23 and a one year high of $584.01.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, topping the consensus estimate of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same period in the previous year, the firm earned $3.04 earnings per share. Gartner’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities analysts expect that Gartner, Inc. will post 12.5 EPS for the current year.

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.