Comerica Bank Decreases Stock Position in Gartner, Inc. (NYSE:IT)

Comerica Bank cut its stake in shares of Gartner, Inc. (NYSE:IT) by 2.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,758 shares of the information technology services provider’s stock after selling 779 shares during the quarter. Comerica Bank’s holdings in Gartner were worth $15,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. MCF Advisors LLC purchased a new position in shares of Gartner in the fourth quarter valued at about $27,000. Frazier Financial Advisors LLC bought a new stake in shares of Gartner in the fourth quarter worth about $27,000. AdvisorNet Financial Inc increased its holdings in Gartner by 59.5% during the 4th quarter. AdvisorNet Financial Inc now owns 67 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 25 shares during the period. DSM Capital Partners LLC purchased a new position in Gartner during the 4th quarter valued at about $32,000. Finally, Harbor Investment Advisory LLC raised its position in Gartner by 7,500.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 76 shares of the information technology services provider’s stock valued at $34,000 after purchasing an additional 75 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on IT shares. Robert W. Baird lifted their price objective on Gartner from $517.00 to $565.00 and gave the stock an “outperform” rating in a research report on Wednesday. Morgan Stanley lifted their price target on shares of Gartner from $440.00 to $470.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. Bank of America upped their price objective on shares of Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a report on Wednesday. BMO Capital Markets lifted their target price on shares of Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research note on Wednesday. Finally, UBS Group boosted their price target on shares of Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $521.00.

Gartner Stock Down 3.5 %

IT traded down $17.12 during midday trading on Friday, reaching $476.15. The company’s stock had a trading volume of 98,577 shares, compared to its average volume of 406,834. Gartner, Inc. has a 1 year low of $323.61 and a 1 year high of $509.15. The stock’s 50-day moving average is $449.11 and its 200-day moving average is $454.97. The firm has a market capitalization of $36.96 billion, a price-to-earnings ratio of 49.08, a PEG ratio of 4.32 and a beta of 1.33. 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 posted 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. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. Gartner had a return on equity of 141.59% and a net margin of 13.67%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.85 EPS. As a group, research analysts expect that Gartner, Inc. will post 11.67 EPS for the current year.

Insider Activity

In other Gartner news, EVP Alwyn Dawkins sold 600 shares of Gartner stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $447.63, for a total value of $268,578.00. Following the completion of the transaction, the executive vice president now directly owns 51,583 shares of the company’s stock, valued at $23,090,098.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Gartner news, EVP Yvonne Genovese sold 439 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $456.13, for a total value of $200,241.07. Following the transaction, the executive vice president now directly owns 1,959 shares of the company’s stock, valued at $893,558.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alwyn Dawkins sold 600 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 51,583 shares in the company, valued at $23,090,098.29. The disclosure for this sale can be found here. Insiders sold 22,544 shares of company stock worth $10,079,813 over the last three months. 3.60% of the stock is currently owned by corporate insiders.

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.