CIBC Asset Management Inc Has $5.71 Million Stock Position in Gartner, Inc. (NYSE:IT)

CIBC Asset Management Inc raised its stake in Gartner, Inc. (NYSE:IT) by 7.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,275 shares of the information technology services provider’s stock after buying an additional 803 shares during the period. CIBC Asset Management Inc’s holdings in Gartner were worth $5,714,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. ING Groep NV boosted its position in Gartner by 38.4% in the third quarter. ING Groep NV now owns 10,306 shares of the information technology services provider’s stock valued at $5,223,000 after buying an additional 2,860 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in Gartner by 5.1% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,273 shares of the information technology services provider’s stock valued at $1,152,000 after buying an additional 110 shares in the last quarter. KBC Group NV raised its stake in shares of Gartner by 6.2% during the third quarter. KBC Group NV now owns 12,186 shares of the information technology services provider’s stock valued at $6,175,000 after acquiring an additional 716 shares during the last quarter. Haverford Trust Co raised its stake in shares of Gartner by 27.5% during the third quarter. Haverford Trust Co now owns 942 shares of the information technology services provider’s stock valued at $477,000 after acquiring an additional 203 shares during the last quarter. Finally, Aptus Capital Advisors LLC raised its stake in shares of Gartner by 10.4% during the third quarter. Aptus Capital Advisors LLC now owns 868 shares of the information technology services provider’s stock valued at $440,000 after acquiring an additional 82 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Buying and Selling at Gartner

In other news, EVP Yvonne Genovese sold 443 shares of Gartner stock in a transaction dated Monday, August 26th. The shares were 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 directly owns 1,959 shares in the company, valued at $947,411.58. This trade represents a 18.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eugene A. Hall sold 34,060 shares of Gartner stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the transaction, the chief executive officer now owns 1,143,401 shares of the company’s stock, valued at $577,874,865.40. This represents a 2.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,172 shares of company stock valued at $38,023,255. Corporate insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

IT has been the subject of several analyst reports. Morgan Stanley raised their price target on shares of Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. UBS Group raised their price target on shares of Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft raised their price target on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Robert W. Baird raised their price target on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Finally, Bank of America raised their price target on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $539.25.

Gartner Trading Down 2.7 %

IT opened at $522.86 on Monday. Gartner, Inc. has a 1-year low of $411.15 and a 1-year high of $559.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. The company has a market cap of $40.29 billion, a P/E ratio of 38.56, a price-to-earnings-growth ratio of 3.27 and a beta of 1.32. The company has a fifty day moving average price of $518.32 and a two-hundred day moving average price of $478.34.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.05. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the firm posted $2.56 earnings per share. The business’s revenue was up 5.4% compared to the same quarter last year. Analysts predict that Gartner, Inc. will post 11.89 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.