CIBC Private Wealth Group LLC Sells 6,739 Shares of Gartner, Inc. (NYSE:IT)

CIBC Private Wealth Group LLC reduced its stake in shares of Gartner, Inc. (NYSE:IT) by 3.3% during the 4th quarter, HoldingsChannel reports. The fund owned 195,928 shares of the information technology services provider’s stock after selling 6,739 shares during the period. CIBC Private Wealth Group LLC’s holdings in Gartner were worth $97,071,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Schroder Investment Management Group increased its position in shares of Gartner by 5.5% during the 4th quarter. Schroder Investment Management Group now owns 378,798 shares of the information technology services provider’s stock valued at $183,516,000 after purchasing an additional 19,667 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Gartner by 590.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 196,153 shares of the information technology services provider’s stock valued at $95,030,000 after acquiring an additional 167,734 shares during the last quarter. Allstate Corp purchased a new stake in shares of Gartner in the fourth quarter valued at $1,091,000. Brown Brothers Harriman & Co. lifted its holdings in shares of Gartner by 12.6% in the 4th quarter. Brown Brothers Harriman & Co. now owns 813 shares of the information technology services provider’s stock worth $394,000 after acquiring an additional 91 shares during the last quarter. Finally, Gardner Lewis Asset Management L P boosted its stake in shares of Gartner by 4.2% during the 4th quarter. Gardner Lewis Asset Management L P now owns 9,542 shares of the information technology services provider’s stock worth $4,623,000 after purchasing an additional 385 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Gartner Price Performance

IT opened at $418.57 on Monday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The business’s fifty day simple moving average is $494.18 and its 200-day simple moving average is $505.61. The company has a market capitalization of $32.15 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 3.30 and a beta of 1.29. Gartner, Inc. has a 12-month low of $409.50 and a 12-month high of $584.01.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter last year, the firm posted $3.04 EPS. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities research analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on IT. Morgan Stanley decreased their price objective on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. Wells Fargo & Company decreased their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $525.00 to $600.00 in a research report on Friday, January 10th. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Finally, Robert W. Baird cut their price target on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $536.63.

Insider Buying and Selling

In related news, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the sale, the senior vice president now owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eileen Serra sold 1,200 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the transaction, the director now owns 1,627 shares of the company’s stock, valued at $796,855.79. This represents a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by 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.