Bank of Montreal Can Grows Stock Position in Gartner, Inc. (NYSE:IT)

Bank of Montreal Can grew its position in shares of Gartner, Inc. (NYSE:IT) by 2.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,031 shares of the information technology services provider’s stock after buying an additional 2,402 shares during the period. Bank of Montreal Can owned 0.11% of Gartner worth $38,723,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in IT. Gilbert & Cook Inc. lifted its holdings in Gartner by 10.6% during the fourth quarter. Gilbert & Cook Inc. now owns 1,430 shares of the information technology services provider’s stock valued at $645,000 after purchasing an additional 137 shares during the last quarter. D.A. Davidson & CO. raised its position in shares of Gartner by 19.6% in the fourth quarter. D.A. Davidson & CO. now owns 1,068 shares of the information technology services provider’s stock valued at $482,000 after purchasing an additional 175 shares during the period. US Bancorp DE raised its position in shares of Gartner by 5.4% in the fourth quarter. US Bancorp DE now owns 5,090 shares of the information technology services provider’s stock valued at $2,296,000 after purchasing an additional 260 shares during the period. TD Asset Management Inc lifted its stake in shares of Gartner by 4.8% during the 4th quarter. TD Asset Management Inc now owns 53,059 shares of the information technology services provider’s stock valued at $23,935,000 after buying an additional 2,419 shares in the last quarter. Finally, Stifel Financial Corp boosted its holdings in Gartner by 13.6% in the 4th quarter. Stifel Financial Corp now owns 38,424 shares of the information technology services provider’s stock worth $17,334,000 after buying an additional 4,607 shares during the period. Institutional investors own 91.51% of the company’s stock.

Gartner Price Performance

IT stock opened at $516.47 on Friday. The firm has a 50 day simple moving average of $487.35 and a two-hundred day simple moving average of $463.49. The stock has a market cap of $40.09 billion, a PE ratio of 51.39, a P/E/G ratio of 3.21 and a beta of 1.32. Gartner, Inc. has a one year low of $323.61 and a one year high of $521.64. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.90.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on IT shares. Bank of America increased their target price on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets increased their price objective on Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. UBS Group increased their price target on shares of Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Morgan Stanley boosted their price objective on shares of Gartner from $440.00 to $470.00 and gave the company an “equal weight” rating in a research note on Thursday, July 11th. One research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $521.00.

Insiders Place Their Bets

In other Gartner news, EVP Alwyn Dawkins sold 1,000 shares of Gartner stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $505.49, for a total transaction of $505,490.00. Following the transaction, the executive vice president now directly owns 56,650 shares of the company’s stock, valued at $28,636,008.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Eugene A. Hall sold 12,082 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $504.84, for a total transaction of $6,099,476.88. Following the transaction, the chief executive officer now directly owns 1,143,389 shares of the company’s stock, valued at $577,228,502.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alwyn Dawkins sold 1,000 shares of Gartner stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $505.49, for a total value of $505,490.00. Following the completion of the transaction, the executive vice president now owns 56,650 shares in the company, valued at approximately $28,636,008.50. The disclosure for this sale can be found here. Insiders sold a total of 65,164 shares of company stock valued at $32,601,014 over the last quarter. 3.60% of the stock is owned by corporate insiders.

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.