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

Cardinal Capital Management boosted its stake in Gartner, Inc. (NYSE:IT) by 2.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,715 shares of the information technology services provider’s stock after buying an additional 89 shares during the period. Cardinal Capital Management’s holdings in Gartner were worth $1,559,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Cary Street Partners Financial LLC bought a new stake in shares of Gartner in the 4th quarter worth approximately $27,000. Kestra Investment Management LLC purchased a new position in Gartner during the fourth quarter valued at $29,000. Itau Unibanco Holding S.A. raised its stake in Gartner by 453.3% during the fourth quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider’s stock valued at $40,000 after buying an additional 68 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Gartner during the fourth quarter valued at $49,000. Finally, Promus Capital LLC purchased a new position in Gartner during the fourth quarter valued at $57,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP John J. Rinello sold 109 shares of Gartner stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $436.35, for a total transaction of $47,562.15. Following the transaction, the senior vice president now owns 3,280 shares in the company, valued at $1,431,228. This trade represents a 3.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Robin B. Kranich sold 739 shares of the company’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $436.50, for a total value of $322,573.50. Following the completion of the sale, the executive vice president now owns 20,464 shares of the company’s stock, valued at $8,932,536. This trade represents a 3.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,426 shares of company stock valued at $2,430,327 over the last 90 days. Company insiders own 2.30% of the company’s stock.

Gartner Stock Up 1.0%

IT stock opened at $408.98 on Tuesday. Gartner, Inc. has a 1-year low of $366.05 and a 1-year high of $584.01. The business has a fifty day moving average price of $423.95 and a 200-day moving average price of $465.41. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market capitalization of $31.48 billion, a P/E ratio of 25.51, a P/E/G ratio of 3.30 and a beta of 1.23.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, topping the consensus estimate of $2.72 by $0.26. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the company posted $2.93 earnings per share. Gartner’s revenue was up 4.2% compared to the same quarter last year. Equities analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on IT shares. Robert W. Baird lowered their price objective on Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Wall Street Zen cut Gartner from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. UBS Group lifted their price objective on Gartner from $500.00 to $525.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. The Goldman Sachs Group lowered their price objective on Gartner from $622.00 to $535.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company lowered their price objective on Gartner from $401.00 to $400.00 and set an “underweight” rating for the company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Gartner currently has an average rating of “Hold” and an average target price of $518.67.

Gartner 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.