M&T Bank Corp Sells 4,626 Shares of Gartner, Inc. (NYSE:IT)

M&T Bank Corp decreased its holdings in Gartner, Inc. (NYSE:IT) by 11.0% in the third quarter, HoldingsChannel.com reports. The fund owned 37,271 shares of the information technology services provider’s stock after selling 4,626 shares during the quarter. M&T Bank Corp’s holdings in Gartner were worth $18,888,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Eastern Bank purchased a new stake in Gartner in the 3rd quarter worth $26,000. Crewe Advisors LLC boosted its stake in 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 buying an additional 67 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in Gartner during the 3rd quarter valued at approximately $44,000. True Wealth Design LLC grew its holdings in Gartner by 2,350.0% during the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock valued at $50,000 after buying an additional 94 shares in the last quarter. Finally, Fortitude Family Office LLC raised its holdings in shares of Gartner by 23.8% during the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after acquiring an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Stock Performance

Shares of NYSE:IT opened at $491.25 on Friday. 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 company has a market capitalization of $37.89 billion, a price-to-earnings ratio of 36.23, a price-to-earnings-growth ratio of 3.24 and a beta of 1.31. The firm has a 50 day moving average of $519.52 and a 200 day moving average of $491.27. Gartner, Inc. has a 52 week low of $411.15 and a 52 week high of $559.00.

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

Insider Transactions at Gartner

In other Gartner news, Director James C. Smith sold 17,533 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $547.09, for a total value of $9,592,128.97. Following the completion of the sale, the director now owns 532,294 shares of the company’s stock, valued at approximately $291,212,724.46. This trade represents a 3.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William James Wartinbee III sold 189 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $523.54, for a total value of $98,949.06. Following the sale, the executive vice president now owns 7,311 shares in the company, valued at $3,827,600.94. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,583 shares of company stock valued at $19,241,974 in the last 90 days. Insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on IT shares. Morgan Stanley upped their price objective on Gartner from $560.00 to $564.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Wells Fargo & Company raised their price target on shares of Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 6th. StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Barclays raised their target price on shares of Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Robert W. Baird boosted 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $543.75.

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.