Bank of Montreal Can Has $42.60 Million Position in Gartner, Inc. (NYSE:IT)

Bank of Montreal Can lowered its holdings in shares of Gartner, Inc. (NYSE:IT) by 2.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,697 shares of the information technology services provider’s stock after selling 2,334 shares during the period. Bank of Montreal Can owned about 0.11% of Gartner worth $42,597,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Eastern Bank bought a new position in shares of Gartner during the third quarter valued at $26,000. Crewe Advisors LLC lifted its holdings in shares of Gartner by 223.3% during the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after acquiring an additional 67 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Gartner during the third quarter valued at $44,000. Fortitude Family Office LLC lifted its holdings in shares of Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after acquiring an additional 20 shares during the period. Finally, Asset Dedication LLC lifted its holdings in shares of Gartner by 46.5% during the third quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock valued at $75,000 after acquiring an additional 47 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Price Performance

Shares of IT stock opened at $519.23 on Friday. The stock has a 50-day moving average price of $520.81 and a 200 day moving average price of $482.87. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31. The firm has a market cap of $40.05 billion, a price-to-earnings ratio of 38.29, a PEG ratio of 3.24 and a beta of 1.32. Gartner, Inc. has a 12 month low of $411.15 and a 12 month high of $559.00.

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

Insider Transactions at Gartner

In other news, Director James C. Smith sold 2,450 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $554.68, for a total transaction of $1,358,966.00. Following the completion of the transaction, the director now directly owns 529,844 shares in the company, valued at approximately $293,893,869.92. The trade was a 0.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Akhil Jain sold 500 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $492.00, for a total value of $246,000.00. Following the transaction, the executive vice president now owns 4,339 shares of the company’s stock, valued at $2,134,788. The trade was a 10.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,149 shares of company stock worth $37,694,911. 3.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on IT. Morgan Stanley lifted their price objective on Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Robert W. Baird lifted their price target on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Wells Fargo & Company lifted their price target on Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a report on Wednesday, November 6th. Barclays lifted their price target on Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $539.25.

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.