Commerce Bank Sells 715 Shares of Gartner, Inc. (NYSE:IT)

Commerce Bank trimmed its holdings in Gartner, Inc. (NYSE:IT) by 7.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,486 shares of the information technology services provider’s stock after selling 715 shares during the period. Commerce Bank’s holdings in Gartner were worth $4,300,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of IT. Eastern Bank bought a new position in shares of Gartner in the 3rd quarter valued at approximately $26,000. Ashton Thomas Securities LLC bought a new position in shares of Gartner in the third quarter valued at approximately $44,000. Crewe Advisors LLC raised its position in shares of Gartner by 223.3% in the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after purchasing an additional 67 shares during the period. Fortitude Family Office LLC lifted its stake in shares of Gartner by 23.8% in the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after buying an additional 20 shares during the last quarter. Finally, Asset Dedication LLC boosted its holdings in shares of Gartner by 46.5% during the 3rd quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock worth $75,000 after buying an additional 47 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Stock Up 0.1 %

IT opened at $519.50 on Friday. The company has a market capitalization of $40.07 billion, a P/E ratio of 38.53, a P/E/G ratio of 3.23 and a beta of 1.32. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02. The firm’s fifty day moving average price is $519.89 and its two-hundred day moving average price is $480.23. Gartner, Inc. has a fifty-two week low of $411.15 and a fifty-two week high of $559.00.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.05. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the business earned $2.56 EPS. The firm’s revenue was up 5.4% on a year-over-year basis. On average, analysts anticipate that Gartner, Inc. will post 11.89 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on IT. Robert W. Baird lifted their target price on shares of Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. UBS Group boosted their price objective on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Morgan Stanley raised their target price on Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Wells Fargo & Company upped their price target on Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. Finally, StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $539.25.

Insider Activity

In other news, EVP Yvonne Genovese sold 443 shares of Gartner stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $483.62, for a total value of $214,243.66. Following the completion of the transaction, the executive vice president now owns 1,959 shares in the company, valued at approximately $947,411.58. The trade was a 18.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Eugene A. Hall sold 34,060 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $505.40, for a total value of $17,213,924.00. Following the sale, the chief executive officer now owns 1,143,401 shares in the company, valued at approximately $577,874,865.40. This trade represents a 2.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 73,172 shares of company stock worth $38,023,255. Company insiders own 3.60% of the company’s stock.

About Gartner

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.