Gartner Inc (IT) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc lowered its stake in Gartner Inc (NYSE:IT) by 3.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,035 shares of the information technology services provider’s stock after selling 315 shares during the quarter. CIBC Asset Management Inc’s holdings in Gartner were worth $1,219,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in IT. Toronto Dominion Bank boosted its holdings in Gartner by 6.3% during the 1st quarter. Toronto Dominion Bank now owns 58,520 shares of the information technology services provider’s stock worth $8,874,000 after acquiring an additional 3,494 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its holdings in Gartner by 3.4% during the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 51,130 shares of the information technology services provider’s stock worth $7,755,000 after acquiring an additional 1,700 shares during the last quarter. OLD National Bancorp IN purchased a new position in Gartner during the 1st quarter worth $267,000. Nissay Asset Management Corp Japan ADV boosted its holdings in Gartner by 69.5% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 63,949 shares of the information technology services provider’s stock worth $9,700,000 after acquiring an additional 26,213 shares during the last quarter. Finally, Stephens Inc. AR boosted its holdings in Gartner by 27.2% during the 1st quarter. Stephens Inc. AR now owns 21,758 shares of the information technology services provider’s stock worth $3,300,000 after acquiring an additional 4,647 shares during the last quarter. Institutional investors own 99.23% of the company’s stock.

IT has been the topic of a number of analyst reports. TheStreet raised shares of Gartner from a “c+” rating to a “b” rating in a report on Tuesday, February 5th. Robert W. Baird reaffirmed a “buy” rating and set a $156.00 price objective on shares of Gartner in a report on Wednesday, February 6th. Bank of America reaffirmed a “buy” rating and set a $150.00 price objective on shares of Gartner in a report on Wednesday, February 6th. Morgan Stanley lifted their price objective on shares of Gartner from $147.00 to $148.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 8th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and set a $141.00 price objective on shares of Gartner in a report on Thursday, February 14th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $148.38.

In other Gartner news, CEO Eugene A. Hall sold 90,935 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $143.22, for a total transaction of $13,023,710.70. Following the sale, the chief executive officer now directly owns 1,174,006 shares of the company’s stock, valued at $168,141,139.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Alwyn Dawkins sold 1,909 shares of the company’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $142.01, for a total transaction of $271,097.09. Following the sale, the executive vice president now directly owns 35,822 shares in the company, valued at $5,087,082.22. The disclosure for this sale can be found here. Insiders sold a total of 119,600 shares of company stock worth $17,193,497 over the last three months. 4.00% of the stock is owned by insiders.

Shares of NYSE:IT opened at $154.06 on Wednesday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 3.34. The stock has a market capitalization of $13.73 billion, a P/E ratio of 40.65, a P/E/G ratio of 2.74 and a beta of 1.31. Gartner Inc has a fifty-two week low of $120.89 and a fifty-two week high of $161.85.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, May 7th. The information technology services provider reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.05. The company had revenue of $970.00 million for the quarter, compared to the consensus estimate of $960.72 million. Gartner had a net margin of 4.09% and a return on equity of 37.59%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.72 EPS. On average, analysts expect that Gartner Inc will post 3.96 EPS for the current year.

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Gartner Company Profile

Gartner, Inc operates as a research and advisory company. It operates through three segments: Research, Conferences, and Consulting. The Research segment offers objective insights and advice on the priorities of various leaders in a range of functional areas of the enterprise through research and other reports, briefings, proprietary tools, access to analysts, peer networking services, and membership programs that enable clients to make better decisions; and practice and talent management research insights in various business functions, such as human resources, sales, legal, and finance.

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Institutional Ownership by Quarter for Gartner (NYSE:IT)

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