M&T Bank Corp Has $16.59 Million Stake in Gartner, Inc. (NYSE:IT)

M&T Bank Corp decreased its position in shares of Gartner, Inc. (NYSE:IT) by 8.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,237 shares of the information technology services provider’s stock after selling 3,034 shares during the period. M&T Bank Corp’s holdings in Gartner were worth $16,587,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IT. Fisher Funds Management LTD acquired a new position in Gartner during the 4th quarter worth $97,518,000. Proficio Capital Partners LLC acquired a new position in shares of Gartner during the fourth quarter valued at about $95,762,000. Assenagon Asset Management S.A. raised its position in shares of Gartner by 208.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 272,267 shares of the information technology services provider’s stock valued at $131,905,000 after buying an additional 183,974 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Gartner during the third quarter valued at about $70,955,000. Finally, Principal Financial Group Inc. raised its position in shares of Gartner by 5.5% during the third quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock valued at $1,014,099,000 after buying an additional 103,814 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insiders Place Their Bets

In other Gartner news, SVP John J. Rinello sold 90 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the sale, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. This represents a 2.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eileen Serra sold 1,200 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the sale, the director now directly owns 1,627 shares in the company, valued at $796,855.79. This represents a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,479 shares of company stock valued at $734,419. 3.60% of the stock is currently owned by insiders.

Gartner Stock Performance

NYSE:IT opened at $490.25 on Thursday. Gartner, Inc. has a 12-month low of $411.15 and a 12-month high of $584.01. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $37.66 billion, a PE ratio of 30.58, a price-to-earnings-growth ratio of 3.30 and a beta of 1.34. The firm has a 50-day moving average price of $510.05 and a 200 day moving average price of $510.31.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, topping the consensus estimate of $3.22 by $2.23. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.04 earnings per share. Research analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IT has been the subject of a number of research analyst reports. StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday. Robert W. Baird upped their price objective on shares of Gartner from $579.00 to $605.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. Wells Fargo & Company cut their price objective on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research report on Friday, January 10th. Finally, Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $525.00 to $600.00 in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Gartner currently has an average rating of “Moderate Buy” and a consensus price target of $552.63.

Gartner 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.