CIBC Asset Management Inc Grows Holdings in Gartner, Inc. (NYSE:IT)

CIBC Asset Management Inc increased its position in shares of Gartner, Inc. (NYSE:IT) by 7.7% during the 3rd quarter, Holdings Channel reports. The firm owned 11,275 shares of the information technology services provider’s stock after purchasing an additional 803 shares during the quarter. CIBC Asset Management Inc’s holdings in Gartner were worth $5,714,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sustainable Growth Advisers LP bought a new stake in Gartner in the second quarter worth about $266,541,000. Principal Financial Group Inc. raised its position in Gartner by 22.0% in the second quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock worth $852,014,000 after acquiring an additional 341,911 shares during the period. Price T Rowe Associates Inc. MD raised its position in Gartner by 38.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 414,559 shares of the information technology services provider’s stock worth $197,608,000 after acquiring an additional 114,610 shares during the period. Natixis Advisors LLC raised its position in Gartner by 117.4% in the second quarter. Natixis Advisors LLC now owns 200,097 shares of the information technology services provider’s stock worth $89,856,000 after acquiring an additional 108,061 shares during the period. Finally, Swedbank AB bought a new stake in Gartner in the first quarter worth about $30,735,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Gartner Price Performance

IT stock opened at $522.86 on Monday. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02. Gartner, Inc. has a one year low of $411.15 and a one year high of $559.00. The stock has a market cap of $40.29 billion, a PE ratio of 38.56, a P/E/G ratio of 3.27 and a beta of 1.32. The firm has a 50 day simple moving average of $518.32 and a two-hundred day simple moving average of $478.34.

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

Analyst Ratings Changes

IT has been the topic of several research reports. StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Robert W. Baird boosted 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. Barclays boosted their price target on shares of Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Finally, BMO Capital Markets upped their target price on shares of Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $539.25.

Insider Activity

In other Gartner news, EVP Scott Hensel sold 5,580 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $490.00, for a total value of $2,734,200.00. Following the completion of the transaction, the executive vice president now directly owns 19,724 shares in the company, valued at approximately $9,664,760. This represents a 22.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Yvonne Genovese sold 443 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $483.62, for a total transaction of $214,243.66. Following the completion of the transaction, the executive vice president now owns 1,959 shares of the company’s stock, valued at $947,411.58. This trade represents a 18.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,172 shares of company stock valued at $38,023,255. Corporate insiders own 3.60% of the company’s stock.

Gartner Company 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.