Bank of Montreal Can Has $42.60 Million Stock Holdings in Gartner, Inc. (NYSE:IT)

Bank of Montreal Can cut its holdings in Gartner, Inc. (NYSE:IT) by 2.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 83,697 shares of the information technology services provider’s stock after selling 2,334 shares during the quarter. Bank of Montreal Can’s holdings in Gartner were worth $42,597,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Transcend Capital Advisors LLC bought a new stake in Gartner in the 2nd quarter valued at approximately $512,000. Swedbank AB bought a new stake in Gartner in the 1st quarter valued at approximately $30,735,000. Cetera Investment Advisers lifted its stake in Gartner by 245.0% in the 1st quarter. Cetera Investment Advisers now owns 21,453 shares of the information technology services provider’s stock valued at $10,226,000 after acquiring an additional 15,235 shares in the last quarter. Choreo LLC bought a new stake in Gartner in the 2nd quarter valued at approximately $722,000. Finally, Victory Capital Management Inc. lifted its stake in Gartner by 43.3% in the 2nd quarter. Victory Capital Management Inc. now owns 59,140 shares of the information technology services provider’s stock valued at $26,557,000 after acquiring an additional 17,874 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on IT. Wells Fargo & Company boosted their target price on Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a research note on Wednesday, November 6th. Morgan Stanley upped their price objective on Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft upped their price objective on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Finally, Robert W. Baird upped their price objective on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $539.25.

Insider Activity at Gartner

In other Gartner news, Director James C. Smith sold 2,128 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $500.15, for a total value of $1,064,319.20. Following the transaction, the director now directly owns 572,090 shares of the company’s stock, valued at $286,130,813.50. This represents a 0.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Claire Herkes sold 478 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $506.01, for a total value of $241,872.78. Following the completion of the transaction, the executive vice president now directly owns 1,905 shares in the company, valued at approximately $963,949.05. This represents a 20.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,149 shares of company stock worth $37,694,911. Company insiders own 3.60% of the company’s stock.

Gartner Stock Down 0.7 %

IT opened at $519.23 on Friday. Gartner, Inc. has a 1-year low of $411.15 and a 1-year high of $559.00. The stock’s fifty day simple moving average is $520.81 and its 200 day simple moving average is $482.87. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. The stock has a market cap of $40.05 billion, a PE ratio of 38.29, a price-to-earnings-growth ratio of 3.24 and a beta of 1.32.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the business earned $2.56 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, research analysts expect that Gartner, Inc. will post 11.89 earnings per share for the current year.

Gartner Company 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.