Canandaigua National Bank & Trust Co. Sells 463 Shares of Gartner, Inc. (NYSE:IT)

Canandaigua National Bank & Trust Co. lowered its stake in Gartner, Inc. (NYSE:IT) by 19.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,954 shares of the information technology services provider’s stock after selling 463 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Gartner were worth $931,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. BKM Wealth Management LLC purchased a new stake in shares of Gartner during the fourth quarter worth about $26,000. MCF Advisors LLC purchased a new position in Gartner during the 4th quarter valued at approximately $27,000. Frazier Financial Advisors LLC purchased a new position in Gartner during the 4th quarter valued at approximately $27,000. VisionPoint Advisory Group LLC grew its holdings in Gartner by 254.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 85 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 61 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC grew its holdings in Gartner by 357.9% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 87 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IT. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a report on Thursday, June 13th. BMO Capital Markets dropped their target price on Gartner from $450.00 to $432.00 and set a “market perform” rating for the company in a report on Thursday, May 2nd. UBS Group dropped their target price on Gartner from $550.00 to $510.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft began coverage on Gartner in a report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 target price for the company. Finally, Robert W. Baird dropped their target price on Gartner from $536.00 to $517.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $474.50.

Gartner Price Performance

Shares of IT stock opened at $446.50 on Wednesday. Gartner, Inc. has a 52-week low of $323.61 and a 52-week high of $486.54. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market capitalization of $34.66 billion, a P/E ratio of 44.43, a P/E/G ratio of 3.88 and a beta of 1.32. The stock has a 50 day moving average price of $440.58 and a 200 day moving average price of $452.14.

Gartner (NYSE:IT) last issued its quarterly earnings results 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. Gartner had a return on equity of 141.55% and a net margin of 13.35%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period last year, the company earned $2.88 EPS. Gartner’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, sell-side analysts predict that Gartner, Inc. will post 11.55 earnings per share for the current year.

Insider Buying and Selling at Gartner

In other Gartner news, Director James C. Smith sold 10,000 shares of Gartner stock in a transaction on Monday, May 20th. The stock was sold at an average price of $455.20, for a total transaction of $4,552,000.00. Following the completion of the sale, the director now directly owns 608,369 shares of the company’s stock, valued at approximately $276,929,568.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Gartner news, EVP Alwyn Dawkins sold 600 shares of Gartner 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 directly owns 51,583 shares of the company’s stock, valued at approximately $23,090,098.29. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James C. Smith sold 10,000 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $455.20, for a total value of $4,552,000.00. Following the completion of the transaction, the director now directly owns 608,369 shares of the company’s stock, valued at $276,929,568.80. The disclosure for this sale can be found here. Insiders sold a total of 22,544 shares of company stock valued at $10,079,813 in the last ninety days. Corporate insiders own 3.60% of the company’s stock.

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.