Comerica Bank Sells 779 Shares of Gartner, Inc. (NYSE:IT)

Comerica Bank cut its stake in Gartner, Inc. (NYSE:IT) by 2.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,758 shares of the information technology services provider’s stock after selling 779 shares during the quarter. Comerica Bank’s holdings in Gartner were worth $15,138,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Tidal Investments LLC increased its stake in Gartner by 24.4% during the 1st quarter. Tidal Investments LLC now owns 9,890 shares of the information technology services provider’s stock worth $4,717,000 after purchasing an additional 1,940 shares in the last quarter. Motley Fool Asset Management LLC increased its stake in Gartner by 13.4% during the 1st quarter. Motley Fool Asset Management LLC now owns 2,676 shares of the information technology services provider’s stock worth $1,276,000 after purchasing an additional 316 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its stake in Gartner by 20.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 593 shares of the information technology services provider’s stock worth $283,000 after purchasing an additional 102 shares in the last quarter. Dynasty Wealth Management LLC bought a new stake in Gartner during the 1st quarter worth approximately $1,432,000. Finally, Industrial Alliance Investment Management Inc. increased its stake in Gartner by 4.4% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 1,760 shares of the information technology services provider’s stock worth $839,000 after purchasing an additional 74 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Gartner Stock Down 3.5 %

Shares of NYSE IT traded down $17.12 during trading hours on Friday, hitting $476.15. The company had a trading volume of 98,577 shares, compared to its average volume of 406,834. The stock has a market capitalization of $36.96 billion, a P/E ratio of 49.08, a price-to-earnings-growth ratio of 4.32 and a beta of 1.33. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.42. Gartner, Inc. has a 1-year low of $323.61 and a 1-year high of $509.15. The firm’s 50 day moving average is $449.11 and its 200-day moving average is $454.97.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.20. Gartner had a return on equity of 141.59% and a net margin of 13.67%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the firm posted $2.85 EPS. The company’s quarterly revenue was up 6.1% on a year-over-year basis. On average, analysts expect that Gartner, Inc. will post 11.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on IT shares. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Bank of America upped their price target on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday. Robert W. Baird upped their price target on Gartner from $517.00 to $565.00 and gave the stock an “outperform” rating in a research report on Wednesday. BMO Capital Markets upped their price target on Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft started coverage on Gartner in a research report on Tuesday, April 16th. They set a “hold” rating and a $507.00 price target for the company. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $521.00.

Insider Buying and Selling at Gartner

In other Gartner news, EVP Alwyn Dawkins sold 600 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $447.63, for a total transaction of $268,578.00. Following the completion of the sale, the executive vice president now owns 51,583 shares of the company’s stock, valued at approximately $23,090,098.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Gartner news, EVP Yvonne Genovese sold 439 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $456.13, for a total transaction of $200,241.07. Following the transaction, the executive vice president now owns 1,959 shares in the company, valued at approximately $893,558.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alwyn Dawkins sold 600 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $447.63, for a total value of $268,578.00. Following the transaction, the executive vice president now owns 51,583 shares in the company, valued at approximately $23,090,098.29. The disclosure for this sale can be found here. Insiders sold 22,544 shares of company stock valued at $10,079,813 in the last quarter. 3.60% of the stock is currently owned by insiders.

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.