Zurcher Kantonalbank Zurich Cantonalbank Decreases Stock Position in Gartner, Inc. (NYSE:IT)

Zurcher Kantonalbank Zurich Cantonalbank cut its position in Gartner, Inc. (NYSE:IT) by 17.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,461 shares of the information technology services provider’s stock after selling 12,215 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Gartner were worth $28,612,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Transcend Capital Advisors LLC bought a new position in Gartner during the 2nd quarter valued at $512,000. Swedbank AB bought a new position in Gartner during the 1st quarter valued at $30,735,000. Cetera Investment Advisers boosted its stake in Gartner by 245.0% during the 1st quarter. Cetera Investment Advisers now owns 21,453 shares of the information technology services provider’s stock valued at $10,226,000 after acquiring an additional 15,235 shares during the last quarter. Choreo LLC acquired a new stake in shares of Gartner during the second quarter worth $722,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Gartner by 43.3% during the second quarter. Victory Capital Management Inc. now owns 59,140 shares of the information technology services provider’s stock worth $26,557,000 after purchasing an additional 17,874 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Gartner

In other news, EVP Akhil Jain sold 500 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $492.00, for a total transaction of $246,000.00. Following the completion of the transaction, the executive vice president now owns 4,339 shares in the company, valued at approximately $2,134,788. This trade represents a 10.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James C. Smith sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $524.02, for a total transaction of $2,620,100.00. Following the transaction, the director now owns 509,457 shares of the company’s stock, valued at approximately $266,965,657.14. This trade represents a 0.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 72,149 shares of company stock worth $37,694,911 in the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Gartner Stock Down 0.7 %

IT stock opened at $519.23 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. Gartner, Inc. has a fifty-two week low of $411.15 and a fifty-two week high of $559.00. The firm’s 50-day simple moving average is $520.81 and its 200 day simple moving average is $482.87. The stock has a market cap of $40.05 billion, a PE ratio of 38.29, a price-to-earnings-growth ratio of 3.24 and a beta of 1.32.

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

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. Barclays increased their target price on shares of Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Morgan Stanley increased their target price on shares of Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Finally, Robert W. Baird increased their price objective on shares of Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $539.25.

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.