Gartner, Inc. (NYSE:IT) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. reduced its stake in Gartner, Inc. (NYSE:IT) by 32.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 993 shares of the information technology services provider’s stock after selling 487 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Gartner were worth $481,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IT. Fortem Financial Group LLC raised its position in shares of Gartner by 2.6% during the 4th quarter. Fortem Financial Group LLC now owns 2,847 shares of the information technology services provider’s stock worth $1,379,000 after acquiring an additional 73 shares in the last quarter. Pensionfund Sabic increased its stake in Gartner by 71.4% in the fourth quarter. Pensionfund Sabic now owns 2,400 shares of the information technology services provider’s stock valued at $1,163,000 after purchasing an additional 1,000 shares during the last quarter. Nordea Investment Management AB raised its holdings in Gartner by 5.1% during the fourth quarter. Nordea Investment Management AB now owns 6,848 shares of the information technology services provider’s stock worth $3,334,000 after purchasing an additional 333 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Gartner by 16.0% during the 4th quarter. GAMMA Investing LLC now owns 1,219 shares of the information technology services provider’s stock worth $591,000 after buying an additional 168 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Gartner by 7.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock worth $525,272,000 after acquiring an additional 70,236 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Gartner Price Performance

Shares of NYSE:IT opened at $491.21 on Tuesday. 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 50-day moving average price of $511.20 and a 200 day moving average price of $495.42. Gartner, Inc. has a 52 week low of $411.15 and a 52 week high of $559.00. The company has a market cap of $37.89 billion, a P/E ratio of 36.22, a PEG ratio of 3.18 and a beta of 1.31.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.56 earnings per share. Research analysts predict that Gartner, Inc. will post 11.87 earnings per share for the current year.

Insider Activity

In other Gartner news, EVP William James Wartinbee III sold 189 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $3,827,600.94. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James C. Smith sold 10,000 shares of Gartner stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $535.76, for a total value of $5,357,600.00. Following the transaction, the director now directly owns 554,274 shares of the company’s stock, valued at $296,957,838.24. This trade represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,583 shares of company stock worth $19,241,974 in the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on IT shares. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Wells Fargo & Company boosted their price objective on Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a research note on Wednesday, November 6th. Robert W. Baird upped their price target on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Morgan Stanley upped their target price on shares of Gartner from $560.00 to $564.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Gartner currently has a consensus rating of “Hold” and an average price target 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.