M&T Bank Corp Sells 4,626 Shares of Gartner, Inc. (NYSE:IT)

M&T Bank Corp cut its position in Gartner, Inc. (NYSE:IT - Free Report) by 11.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,271 shares of the information technology services provider's stock after selling 4,626 shares during the period. M&T Bank Corp's holdings in Gartner were worth $18,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Baron Wealth Management LLC grew its stake in Gartner by 4.1% during the third quarter. Baron Wealth Management LLC now owns 481 shares of the information technology services provider's stock valued at $244,000 after acquiring an additional 19 shares in the last quarter. Fortitude Family Office LLC grew its stake in Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider's stock valued at $53,000 after acquiring an additional 20 shares in the last quarter. Moors & Cabot Inc. grew its stake in Gartner by 3.0% during the second quarter. Moors & Cabot Inc. now owns 763 shares of the information technology services provider's stock valued at $343,000 after acquiring an additional 22 shares in the last quarter. Wallace Advisory Group LLC grew its stake in Gartner by 2.4% during the second quarter. Wallace Advisory Group LLC now owns 980 shares of the information technology services provider's stock valued at $440,000 after acquiring an additional 23 shares in the last quarter. Finally, Trust Point Inc. grew its stake in Gartner by 3.2% during the third quarter. Trust Point Inc. now owns 746 shares of the information technology services provider's stock valued at $378,000 after acquiring an additional 23 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Trading Up 1.1 %

Gartner stock traded up $5.89 during trading hours on Wednesday, hitting $518.54. The company had a trading volume of 253,582 shares, compared to its average volume of 374,384. The firm has a market cap of $40.00 billion, a P/E ratio of 38.24, a P/E/G ratio of 3.23 and a beta of 1.31. 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 1 year low of $411.15 and a 1 year high of $559.00. The company has a 50-day moving average price of $522.13 and a two-hundred day moving average price of $487.85.

Gartner (NYSE:IT - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.05. The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The firm's quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.56 EPS. On average, sell-side analysts anticipate that Gartner, Inc. will post 11.89 earnings per share for the current year.

Analysts Set New Price Targets

IT has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft raised their target price 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. StockNews.com upgraded shares of Gartner from a "hold" rating to a "buy" rating in a research report on Wednesday, November 6th. Barclays increased their price objective on shares of Gartner from $470.00 to $525.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 6th. Wells Fargo & Company increased their price objective on shares of Gartner from $460.00 to $470.00 and gave the company an "underweight" rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley increased their price objective on shares of Gartner from $490.00 to $528.00 and gave the company an "equal weight" rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Gartner presently has a consensus rating of "Hold" and a consensus target price of $539.25.

Insider Buying and Selling at Gartner

In other news, CEO Eugene A. Hall sold 34,060 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 1,143,401 shares of the company's stock, valued at approximately $577,874,865.40. This represents a 2.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Claire Herkes sold 478 shares of the company's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $506.01, for a total transaction of $241,872.78. Following the completion of the sale, the executive vice president now directly owns 1,905 shares of the company's stock, valued at $963,949.05. The trade was a 20.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,121 shares of company stock valued at $36,697,770 in the last three months. Company insiders own 3.60% of the company's stock.

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.