Canandaigua National Bank & Trust Co. Lowers Stock Holdings in Gartner, Inc. (NYSE:IT)

Canandaigua National Bank & Trust Co. trimmed its holdings in shares of Gartner, Inc. (NYSE:IT) by 10.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,480 shares of the information technology services provider’s stock after selling 168 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Gartner were worth $750,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Central Pacific Bank Trust Division purchased a new position in shares of Gartner during the first quarter valued at approximately $36,000. Crewe Advisors LLC increased its position in shares of Gartner by 223.3% during the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after acquiring an additional 67 shares in the last quarter. J.Safra Asset Management Corp increased its position in shares of Gartner by 58.7% during the first quarter. J.Safra Asset Management Corp now owns 146 shares of the information technology services provider’s stock valued at $70,000 after acquiring an additional 54 shares in the last quarter. Rothschild Investment LLC bought a new stake in shares of Gartner during the second quarter valued at approximately $94,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Gartner by 16.0% during the first quarter. EverSource Wealth Advisors LLC now owns 275 shares of the information technology services provider’s stock valued at $131,000 after acquiring an additional 38 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Gartner Stock Performance

Shares of IT stock traded up $5.42 during mid-day trading on Friday, reaching $513.71. 271,111 shares of the company’s stock traded hands, compared to its average volume of 381,447. Gartner, Inc. has a 12 month low of $323.61 and a 12 month high of $521.64. The firm has a 50 day moving average price of $492.53 and a two-hundred day moving average price of $464.97. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market capitalization of $39.88 billion, a PE ratio of 51.14, a price-to-earnings-growth ratio of 3.21 and a beta of 1.32.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.20. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the previous year, the firm posted $2.85 EPS. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, research analysts forecast that Gartner, Inc. will post 11.65 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on IT shares. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. UBS Group lifted their target price on shares of Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Robert W. Baird lifted their target price on shares of Gartner from $517.00 to $565.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Bank of America lifted their target price on shares of Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, BMO Capital Markets lifted their target price on shares of Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Gartner has an average rating of “Hold” and an average price target of $521.00.

Insider Activity at Gartner

In related news, EVP Claire Herkes sold 478 shares of Gartner stock in a transaction on Friday, September 13th. The shares were sold at an average price of $506.01, for a total transaction of $241,872.78. Following the transaction, the executive vice president now owns 1,905 shares in the company, valued at approximately $963,949.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Gartner news, CEO Eugene A. Hall sold 34,060 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $505.40, for a total value of $17,213,924.00. Following the sale, the chief executive officer now owns 1,143,401 shares in the company, valued at $577,874,865.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Claire Herkes sold 478 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $506.01, for a total transaction of $241,872.78. Following the sale, the executive vice president now owns 1,905 shares in the company, valued at $963,949.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,164 shares of company stock worth $32,601,014. 3.60% of the stock is owned by corporate insiders.

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.