Commerce Bank Has $4.30 Million Stake in Gartner, Inc. (NYSE:IT)

Commerce Bank reduced its stake in shares of Gartner, Inc. (NYSE:IT) by 7.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,486 shares of the information technology services provider’s stock after selling 715 shares during the quarter. Commerce Bank’s holdings in Gartner were worth $4,300,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. CreativeOne Wealth LLC bought a new stake in Gartner during the 1st quarter worth about $222,000. Magnetar Financial LLC bought a new stake in shares of Gartner during the first quarter worth approximately $1,049,000. Price T Rowe Associates Inc. MD lifted its holdings in Gartner by 38.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 414,559 shares of the information technology services provider’s stock valued at $197,608,000 after buying an additional 114,610 shares during the period. Third Point LLC acquired a new position in Gartner in the first quarter valued at approximately $26,217,000. Finally, Industrial Alliance Investment Management Inc. boosted its stake in Gartner by 4.4% in the first quarter. Industrial Alliance Investment Management Inc. now owns 1,760 shares of the information technology services provider’s stock valued at $839,000 after acquiring an additional 74 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 Gartner news, EVP Akhil Jain sold 500 shares of Gartner stock in a transaction on Monday, September 9th. The shares were sold at an average price of $492.00, for a total value of $246,000.00. Following the sale, the executive vice president now directly owns 4,339 shares in the company, valued at approximately $2,134,788. The trade was a 10.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Yvonne Genovese sold 443 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $483.62, for a total transaction of $214,243.66. Following the transaction, the executive vice president now owns 1,959 shares of the company’s stock, valued at approximately $947,411.58. This represents a 18.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 73,172 shares of company stock valued at $38,023,255 in the last 90 days. 3.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Bank of America increased their price target on Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Barclays increased their target price on Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. BMO Capital Markets upped their price target on Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. UBS Group increased their price target on shares of Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Robert W. Baird boosted their price objective on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $539.25.

Gartner Price Performance

NYSE IT opened at $519.50 on Friday. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02. Gartner, Inc. has a 52-week low of $411.15 and a 52-week high of $559.00. The business has a 50 day simple moving average of $519.89 and a 200 day simple moving average of $480.23. The stock has a market cap of $40.07 billion, a price-to-earnings ratio of 38.53, a PEG ratio of 3.23 and a beta of 1.32.

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