Cardinal Capital Management Grows Stock Position in Gartner, Inc. (NYSE:IT)

Cardinal Capital Management lifted its stake in Gartner, Inc. (NYSE:IT) by 8.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 3,497 shares of the information technology services provider’s stock after buying an additional 267 shares during the period. Cardinal Capital Management’s holdings in Gartner were worth $1,667,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Signet Financial Management LLC increased its holdings in Gartner by 1.7% during the 1st quarter. Signet Financial Management LLC now owns 7,481 shares of the information technology services provider’s stock valued at $3,566,000 after purchasing an additional 126 shares during the period. Global Assets Advisory LLC purchased a new position in Gartner during the 1st quarter valued at about $31,862,000. MJP Associates Inc. ADV increased its holdings in Gartner by 23.1% during the 1st quarter. MJP Associates Inc. ADV now owns 1,024 shares of the information technology services provider’s stock valued at $488,000 after purchasing an additional 192 shares during the period. Gulf International Bank UK Ltd boosted its position in Gartner by 0.7% during the 1st quarter. Gulf International Bank UK Ltd now owns 6,527 shares of the information technology services provider’s stock valued at $3,111,000 after acquiring an additional 43 shares in the last quarter. Finally, Wedmont Private Capital boosted its position in Gartner by 2.0% during the 1st quarter. Wedmont Private Capital now owns 1,630 shares of the information technology services provider’s stock valued at $766,000 after acquiring an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In other Gartner news, Director James C. Smith sold 10,000 shares of the business’s stock in a transaction on Monday, May 20th. The shares were 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 in the company, valued at approximately $276,929,568.80. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Gartner news, Director James C. Smith sold 10,000 shares of the business’s stock in a transaction on Monday, May 20th. The shares were 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 in the company, valued at approximately $276,929,568.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Alwyn Dawkins sold 600 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $447.63, for a total transaction of $268,578.00. Following the sale, the executive vice president now owns 51,583 shares of the company’s stock, valued at $23,090,098.29. The disclosure for this sale can be found here. Insiders sold a total of 22,544 shares of company stock worth $10,079,813 in the last three months. Insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

IT has been the topic of several research reports. Robert W. Baird cut their price objective on Gartner from $536.00 to $517.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. BMO Capital Markets cut their price objective on Gartner from $450.00 to $432.00 and set a “market perform” rating on the stock in a research report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on Gartner in a research report on Tuesday, April 16th. They set a “hold” rating and a $507.00 price objective on the stock. Finally, UBS Group cut their price objective on Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Gartner has an average rating of “Hold” and an average price target of $474.50.

Gartner Price Performance

Shares of NYSE IT opened at $444.77 on Friday. Gartner, Inc. has a twelve month low of $323.61 and a twelve month high of $486.54. The firm has a market cap of $34.53 billion, a P/E ratio of 44.26, a PEG ratio of 3.91 and a beta of 1.32. The company has a 50 day moving average of $438.90 and a 200 day moving average of $452.30. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.42.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.40. Gartner had a net margin of 13.35% and a return on equity of 141.55%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period in the previous year, the business earned $2.88 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, research analysts expect that Gartner, Inc. will post 11.55 EPS for the current fiscal year.

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.