Canandaigua National Bank & Trust Co. Trims Stock Position in Gartner, Inc. (NYSE:IT)

Canandaigua National Bank & Trust Co. decreased its position in shares of Gartner, Inc. (NYSE:IT) by 15.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,648 shares of the information technology services provider’s stock after selling 306 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Gartner were worth $740,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in IT. Allworth Financial LP boosted its stake in Gartner by 2.8% during the 4th quarter. Allworth Financial LP now owns 807 shares of the information technology services provider’s stock worth $364,000 after purchasing an additional 22 shares during the period. BSW Wealth Partners grew its stake in shares of Gartner by 3.7% in the 4th quarter. BSW Wealth Partners now owns 617 shares of the information technology services provider’s stock valued at $278,000 after purchasing an additional 22 shares during the last quarter. Sheaff Brock Investment Advisors LLC increased its holdings in shares of Gartner by 0.5% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 4,900 shares of the information technology services provider’s stock valued at $2,210,000 after purchasing an additional 22 shares during the period. TIAA Trust National Association raised its stake in shares of Gartner by 3.2% during the first quarter. TIAA Trust National Association now owns 744 shares of the information technology services provider’s stock worth $355,000 after purchasing an additional 23 shares during the last quarter. Finally, Mather Group LLC. raised its stake in shares of Gartner by 2.2% during the second quarter. Mather Group LLC. now owns 1,079 shares of the information technology services provider’s stock worth $514,000 after purchasing an additional 23 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Price Performance

Shares of IT stock traded up $1.43 during trading hours on Friday, hitting $480.43. The company’s stock had a trading volume of 86,492 shares, compared to its average volume of 405,439. The company has a current ratio of 0.90, a quick ratio of 0.91 and a debt-to-equity ratio of 3.80. The business has a fifty day moving average of $453.13 and a 200-day moving average of $455.44. Gartner, Inc. has a twelve month low of $323.61 and a twelve month high of $509.15. The stock has a market cap of $37.30 billion, a price-to-earnings ratio of 47.84, a P/E/G ratio of 3.80 and a beta of 1.33.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.20. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the business posted $2.85 earnings per share. Gartner’s revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Gartner, Inc. will post 11.58 EPS for the current year.

Insider Activity at Gartner

In other Gartner news, Director Anne Sutherland Fuchs sold 705 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $428.99, for a total transaction of $302,437.95. Following the sale, the director now directly owns 8,524 shares of the company’s stock, valued at approximately $3,656,710.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Gartner news, Director Anne Sutherland Fuchs sold 705 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $428.99, for a total transaction of $302,437.95. Following the transaction, the director now owns 8,524 shares of the company’s stock, valued at approximately $3,656,710.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Eugene A. Hall sold 12,082 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $504.84, for a total value of $6,099,476.88. Following the sale, the chief executive officer now owns 1,143,389 shares in the company, valued at approximately $577,228,502.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,809 shares of company stock valued at $17,720,941. 3.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on IT. Bank of America boosted their price objective on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. UBS Group boosted their price target on shares of Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Robert W. Baird raised their price objective on shares of Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Morgan Stanley boosted their target price on Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Gartner in a report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price target for the company. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $521.00.

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.