Banque Cantonale Vaudoise Sells 5,200 Shares of Gartner, Inc. (NYSE:IT)

Posted by Defense World Staff on Jul 6th, 2023

Banque Cantonale Vaudoise decreased its holdings in shares of Gartner, Inc. (NYSE:IT – Free Report) by 85.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 900 shares of the information technology services provider’s stock after selling 5,200 shares during the period. Banque Cantonale Vaudoise’s holdings in Gartner were worth $293,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Ronald Blue Trust Inc. raised its position in shares of Gartner by 14.8% in the 1st quarter. Ronald Blue Trust Inc. now owns 635 shares of the information technology services provider’s stock worth $213,000 after acquiring an additional 82 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Gartner by 6.9% in the 4th quarter. First Trust Advisors LP now owns 85,486 shares of the information technology services provider’s stock worth $28,739,000 after buying an additional 5,505 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Gartner by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 482,674 shares of the information technology services provider’s stock worth $162,246,000 after buying an additional 10,441 shares during the last quarter. Wedbush Securities Inc. purchased a new stake in shares of Gartner in the 4th quarter worth approximately $228,000. Finally, Cibc World Markets Corp grew its stake in shares of Gartner by 108.7% in the 4th quarter. Cibc World Markets Corp now owns 12,926 shares of the information technology services provider’s stock worth $4,345,000 after buying an additional 6,732 shares during the last quarter. Institutional investors own 92.41% of the company’s stock.

Gartner Stock Performance

IT stock opened at $346.99 on Thursday. The company has a market cap of $27.43 billion, a P/E ratio of 29.95, a price-to-earnings-growth ratio of 4.59 and a beta of 1.25. Gartner, Inc. has a 1 year low of $231.05 and a 1 year high of $363.12. The company has a debt-to-equity ratio of 5.19, a current ratio of 0.84 and a quick ratio of 0.84. The stock’s fifty day moving average price is $331.64 and its 200-day moving average price is $329.43.

Gartner (NYSE:IT – Free Report) last released its quarterly earnings results on Tuesday, May 2nd. The information technology services provider reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.84. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.37 billion. Gartner had a return on equity of 772.55% and a net margin of 16.56%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the business posted $2.33 EPS. On average, equities analysts forecast that Gartner, Inc. will post 10.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on IT shares. Wells Fargo & Company cut their price target on Gartner from $387.00 to $380.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 19th. BMO Capital Markets cut their price target on Gartner from $357.00 to $337.00 and set a “market perform” rating on the stock in a research note on Friday, April 21st. UBS Group started coverage on Gartner in a research note on Wednesday, May 31st. They set a “neutral” rating and a $368.00 target price on the stock. Finally, StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $359.13.

Insider Transactions at Gartner

In related news, EVP Alwyn Dawkins sold 887 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $356.78, for a total value of $316,463.86. Following the transaction, the executive vice president now directly owns 45,914 shares of the company’s stock, valued at approximately $16,381,196.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Yvonne Genovese sold 1,327 shares of the firm’s stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $299.14, for a total value of $396,958.78. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Alwyn Dawkins sold 887 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $356.78, for a total value of $316,463.86. Following the sale, the executive vice president now directly owns 45,914 shares in the company, valued at $16,381,196.92. The disclosure for this sale can be found here. Insiders have sold a total of 23,115 shares of company stock worth $7,815,611 in the last ninety days. Insiders own 3.90% of the company’s stock.

About Gartner

(Free Report)

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.