Scotia Capital Inc. Has $7.54 Million Stake in Gartner, Inc. (NYSE:IT)

Scotia Capital Inc. grew its holdings in Gartner, Inc. (NYSE:IT) by 37.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,951 shares of the information technology services provider’s stock after purchasing an additional 4,865 shares during the quarter. Scotia Capital Inc.’s holdings in Gartner were worth $7,535,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Sompo Asset Management Co. Ltd. boosted its stake in Gartner by 1.7% during the 4th quarter. Sompo Asset Management Co. Ltd. now owns 1,210 shares of the information technology services provider’s stock valued at $586,000 after purchasing an additional 20 shares during the period. Cornerstone Advisory LLC lifted its holdings in shares of Gartner by 0.8% during the fourth quarter. Cornerstone Advisory LLC now owns 2,803 shares of the information technology services provider’s stock worth $1,443,000 after buying an additional 21 shares during the last quarter. TD Waterhouse Canada Inc. lifted its holdings in shares of Gartner by 3.1% during the fourth quarter. TD Waterhouse Canada Inc. now owns 758 shares of the information technology services provider’s stock worth $367,000 after buying an additional 23 shares during the last quarter. Connecticut Wealth Management LLC boosted its position in shares of Gartner by 0.6% in the fourth quarter. Connecticut Wealth Management LLC now owns 4,604 shares of the information technology services provider’s stock valued at $2,230,000 after acquiring an additional 26 shares during the period. Finally, Keel Point LLC grew its stake in shares of Gartner by 5.5% in the fourth quarter. Keel Point LLC now owns 514 shares of the information technology services provider’s stock worth $249,000 after acquiring an additional 27 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

IT has been the subject of several research analyst reports. Wells Fargo & Company cut their target price on shares of Gartner from $400.00 to $345.00 and set an “underweight” rating for the company in a research note on Friday, July 18th. UBS Group cut their price objective on shares of Gartner from $500.00 to $480.00 and set a “buy” rating for the company in a research report on Tuesday, July 15th. Barclays reduced their target price on shares of Gartner from $510.00 to $475.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. The Goldman Sachs Group lowered their price target on Gartner from $622.00 to $535.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Finally, Morgan Stanley reduced their price objective on Gartner from $490.00 to $455.00 and set an “equal weight” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $482.57.

Gartner Stock Down 3.0%

Shares of IT opened at $328.59 on Monday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.64. The company has a 50-day moving average price of $393.52 and a two-hundred day moving average price of $436.86. The stock has a market cap of $25.29 billion, a price-to-earnings ratio of 20.45 and a beta of 1.19. Gartner, Inc. has a 12 month low of $326.93 and a 12 month high of $584.01.

Gartner (NYSE:IT) last posted its earnings results 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. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Gartner had a return on equity of 96.70% and a net margin of 19.82%. Gartner’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the company earned $2.93 EPS. Equities analysts predict that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insider Activity at Gartner

In other news, SVP John J. Rinello sold 109 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $436.35, for a total value of $47,562.15. Following the sale, the senior vice president owned 3,280 shares of the company’s stock, valued at approximately $1,431,228. This represents a 3.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Akhil Jain sold 625 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $450.00, for a total transaction of $281,250.00. Following the sale, the executive vice president owned 6,548 shares of the company’s stock, valued at $2,946,600. This trade represents a 8.71% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,426 shares of company stock valued at $2,430,327. Insiders own 3.60% of the company’s stock.

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.