Cibc World Markets Corp Buys 1,688 Shares of Gartner, Inc. (NYSE:IT)

Cibc World Markets Corp raised its stake in shares of Gartner, Inc. (NYSE:IT) by 16.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 12,144 shares of the information technology services provider’s stock after purchasing an additional 1,688 shares during the quarter. Cibc World Markets Corp’s holdings in Gartner were worth $5,883,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Corient Private Wealth LLC boosted its position in shares of Gartner by 1.3% during the 4th quarter. Corient Private Wealth LLC now owns 121,736 shares of the information technology services provider’s stock valued at $58,978,000 after acquiring an additional 1,559 shares in the last quarter. Natixis Advisors LLC boosted its position in shares of Gartner by 6.8% during the 4th quarter. Natixis Advisors LLC now owns 246,590 shares of the information technology services provider’s stock valued at $119,465,000 after acquiring an additional 15,651 shares in the last quarter. Copperwynd Financial LLC boosted its position in shares of Gartner by 8.1% during the 4th quarter. Copperwynd Financial LLC now owns 2,063 shares of the information technology services provider’s stock valued at $999,000 after acquiring an additional 155 shares in the last quarter. LBP AM SA boosted its position in shares of Gartner by 869.0% during the 4th quarter. LBP AM SA now owns 12,103 shares of the information technology services provider’s stock valued at $5,864,000 after acquiring an additional 10,854 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in shares of Gartner by 0.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 3,379 shares of the information technology services provider’s stock valued at $1,637,000 after acquiring an additional 30 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Gartner Price Performance

Shares of IT stock opened at $448.70 on Thursday. 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 firm has a market capitalization of $34.47 billion, a price-to-earnings ratio of 27.99, a PEG ratio of 3.30 and a beta of 1.29. The firm’s 50 day moving average is $505.08 and its 200-day moving average is $508.72. Gartner, Inc. has a 1 year low of $411.15 and a 1 year high of $584.01.

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

Insider Buying and Selling at Gartner

In other news, Director Eileen Serra sold 1,200 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John J. Rinello sold 90 shares of the stock in a transaction on 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 directly owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This represents a 2.69 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

IT has been the topic of several recent research reports. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, March 5th. Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $525.00 to $600.00 in a research report on Friday, January 10th. Robert W. Baird boosted their price target on shares of Gartner from $579.00 to $605.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Wells Fargo & Company reduced their price target on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research report on Friday, January 10th. Finally, Morgan Stanley reduced their price target on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $552.63.

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.