CIBC Asset Management Inc Acquires 512 Shares of Gartner, Inc. (NYSE:IT)

CIBC Asset Management Inc raised its position in shares of Gartner, Inc. (NYSE:IT - Free Report) by 4.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,787 shares of the information technology services provider's stock after purchasing an additional 512 shares during the period. CIBC Asset Management Inc's holdings in Gartner were worth $5,710,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its position in shares of Gartner by 1.1% during the third quarter. State Street Corp now owns 3,257,355 shares of the information technology services provider's stock worth $1,650,697,000 after buying an additional 36,258 shares during the period. Geode Capital Management LLC raised its stake in Gartner by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,018,358 shares of the information technology services provider's stock valued at $1,020,378,000 after acquiring an additional 36,698 shares in the last quarter. Principal Financial Group Inc. boosted its position in Gartner by 0.6% during the 4th quarter. Principal Financial Group Inc. now owns 2,012,799 shares of the information technology services provider's stock worth $975,141,000 after acquiring an additional 11,657 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Gartner by 7.3% in the third quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider's stock worth $525,272,000 after purchasing an additional 70,236 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Gartner by 3.3% during the third quarter. Franklin Resources Inc. now owns 801,589 shares of the information technology services provider's stock valued at $422,678,000 after purchasing an additional 25,315 shares during the period. Institutional investors own 91.51% of the company's stock.

Insider Buying and Selling at Gartner

In other news, Director James C. Smith sold 5,000 shares of the company's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $524.02, for a total transaction of $2,620,100.00. Following the completion of the sale, the director now owns 509,457 shares in the company, valued at approximately $266,965,657.14. This represents a 0.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP John J. Rinello sold 90 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the transaction, the senior vice president now directly owns 3,259 shares in the company, valued at approximately $1,728,932.09. This represents a 2.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,690 shares of company stock worth $2,981,025. 3.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IT. StockNews.com raised shares of Gartner from a "hold" rating to a "buy" rating in a report on Wednesday, February 12th. Wells Fargo & Company reduced their price target on shares of Gartner from $470.00 to $460.00 and set an "underweight" rating for the company in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Gartner from $529.00 to $531.00 and gave the company a "hold" rating in a research note on Wednesday, November 6th. Barclays upgraded Gartner from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $525.00 to $600.00 in a research report on Friday, January 10th. Finally, Robert W. Baird lifted their price target on Gartner from $579.00 to $605.00 and gave the company an "outperform" rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $552.63.

Gartner Trading Down 3.1 %

NYSE IT traded down $15.72 on Friday, hitting $487.44. 522,715 shares of the stock were exchanged, compared to its average volume of 464,688. The company's 50-day moving average price is $509.42 and its two-hundred day moving average price is $509.05. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. Gartner, Inc. has a 52-week low of $411.15 and a 52-week high of $584.01. The company has a market capitalization of $37.45 billion, a price-to-earnings ratio of 30.41, a P/E/G ratio of 3.30 and a beta of 1.34.

Gartner (NYSE:IT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, beating the consensus estimate of $3.22 by $2.23. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period in the previous year, the firm earned $3.04 earnings per share. Gartner's quarterly revenue was up 8.1% on a year-over-year basis. Research analysts predict that Gartner, Inc. will post 12.5 EPS 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.