Cardinal Capital Management Boosts Stake in Gartner, Inc. (NYSE:IT)

Cardinal Capital Management lifted its holdings in Gartner, Inc. (NYSE:IT) by 8.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,497 shares of the information technology services provider’s stock after buying an additional 267 shares during the quarter. Cardinal Capital Management’s holdings in Gartner were worth $1,667,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Morgan Stanley raised its holdings in shares of Gartner by 4.6% in the third quarter. Morgan Stanley now owns 2,157,075 shares of the information technology services provider’s stock worth $741,193,000 after acquiring an additional 95,040 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Gartner by 12.0% in the fourth quarter. Wellington Management Group LLP now owns 1,852,820 shares of the information technology services provider’s stock valued at $835,826,000 after purchasing an additional 198,274 shares during the period. Brown Advisory Inc. grew its position in shares of Gartner by 4.6% in the fourth quarter. Brown Advisory Inc. now owns 1,208,914 shares of the information technology services provider’s stock valued at $545,353,000 after purchasing an additional 52,826 shares during the period. Franklin Resources Inc. grew its position in shares of Gartner by 18.5% in the fourth quarter. Franklin Resources Inc. now owns 920,716 shares of the information technology services provider’s stock valued at $415,344,000 after purchasing an additional 143,556 shares during the period. Finally, Norges Bank purchased a new stake in shares of Gartner in the fourth quarter valued at $388,781,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IT. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. BMO Capital Markets decreased their target price on Gartner from $450.00 to $432.00 and set a “market perform” rating for the company in a research report on Thursday, May 2nd. Robert W. Baird cut their price target on Gartner from $536.00 to $517.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. UBS Group cut their price target on Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft began coverage on Gartner in a research note on Tuesday, April 16th. They set a “hold” rating and a $507.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $474.50.

Insider Buying and Selling at Gartner

In other news, EVP Alwyn Dawkins sold 600 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $447.63, for a total transaction of $268,578.00. Following the completion of the sale, the executive vice president now owns 51,583 shares in the company, valued at approximately $23,090,098.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Alwyn Dawkins sold 600 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $447.63, for a total transaction of $268,578.00. Following the completion of the sale, the executive vice president now owns 51,583 shares in the company, valued at approximately $23,090,098.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James C. Smith sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $439.29, for a total value of $4,392,900.00. Following the completion of the sale, the director now directly owns 599,074 shares of the company’s stock, valued at approximately $263,167,217.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,544 shares of company stock valued at $10,079,813. 3.60% of the stock is owned by corporate insiders.

Gartner Stock Down 0.4 %

Shares of Gartner stock opened at $444.77 on Friday. Gartner, Inc. has a twelve month low of $323.61 and a twelve month high of $486.54. The stock has a market capitalization of $34.53 billion, a price-to-earnings ratio of 44.26, a PEG ratio of 3.91 and a beta of 1.32. The business’s 50 day simple moving average is $438.90 and its 200-day simple moving average is $452.30. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.42.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.40. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.47 billion. Gartner had a return on equity of 141.55% and a net margin of 13.35%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.88 EPS. Equities research analysts forecast that Gartner, Inc. will post 11.55 earnings per share 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.