M&T Bank Corp Has $10.41 Million Holdings in Gartner, Inc. (NYSE:IT)

M&T Bank Corp trimmed its holdings in shares of Gartner, Inc. (NYSE:IT) by 6.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,084 shares of the information technology services provider’s stock after selling 1,585 shares during the period. M&T Bank Corp’s holdings in Gartner were worth $10,414,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. BKM Wealth Management LLC bought a new position in Gartner during the fourth quarter worth about $26,000. MCF Advisors LLC bought a new stake in shares of Gartner during the fourth quarter worth $27,000. AdvisorNet Financial Inc raised its stake in shares of Gartner by 59.5% in the 4th quarter. AdvisorNet Financial Inc now owns 67 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 25 shares during the period. Harbor Investment Advisory LLC raised its stake in shares of Gartner by 7,500.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 76 shares of the information technology services provider’s stock valued at $34,000 after purchasing an additional 75 shares during the period. Finally, OFI Invest Asset Management acquired a new stake in shares of Gartner in the 3rd quarter valued at about $25,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Stock Performance

Shares of IT stock opened at $428.64 on Monday. Gartner, Inc. has a 52 week low of $295.43 and a 52 week high of $486.54. The company has a market capitalization of $33.42 billion, a price-to-earnings ratio of 42.65, a PEG ratio of 3.44 and a beta of 1.32. The company has a 50-day simple moving average of $462.52 and a 200 day simple moving average of $441.53. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.91 and a current ratio of 0.91.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.40. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Gartner had a return on equity of 141.55% and a net margin of 13.35%. The business’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.88 earnings per share. On average, sell-side analysts predict that Gartner, Inc. will post 11.55 earnings per share for the current year.

Insiders Place Their Bets

In other Gartner news, EVP Valentin Sribar sold 682 shares of Gartner stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $453.00, for a total value of $308,946.00. Following the completion of the sale, the executive vice president now owns 12,269 shares in the company, valued at approximately $5,557,857. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Gartner news, EVP Valentin Sribar sold 682 shares of Gartner stock in a transaction on Friday, February 16th. The stock was sold at an average price of $453.00, for a total value of $308,946.00. Following the completion of the transaction, the executive vice president now directly owns 12,269 shares of the company’s stock, valued at approximately $5,557,857. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James C. Smith sold 5,000 shares of Gartner stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $455.00, for a total value of $2,275,000.00. Following the completion of the transaction, the director now directly owns 638,235 shares of the company’s stock, valued at $290,396,925. The disclosure for this sale can be found here. Insiders have sold 22,952 shares of company stock worth $10,598,070 in the last 90 days. Company insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

IT has been the topic of several recent research reports. BMO Capital Markets dropped their price target on Gartner from $450.00 to $432.00 and set a “market perform” rating on the stock in a research note on Thursday. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a report on Thursday. UBS Group decreased their price objective on Gartner from $550.00 to $510.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft assumed coverage on Gartner in a report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price objective for the company. Finally, Robert W. Baird decreased their price objective on Gartner from $536.00 to $517.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $474.50.

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.