AMG National Trust Bank Acquires New Stake in Gartner, Inc. (NYSE:IT)

AMG National Trust Bank bought a new stake in Gartner, Inc. (NYSE:IT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 408 shares of the information technology services provider’s stock, valued at approximately $207,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Eastern Bank acquired a new position in Gartner in the third quarter valued at $26,000. Crewe Advisors LLC lifted its holdings in shares of Gartner by 223.3% during the 2nd quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock worth $44,000 after acquiring an additional 67 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of Gartner in the third quarter worth approximately $44,000. Fortitude Family Office LLC grew its holdings in Gartner by 23.8% in the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after purchasing an additional 20 shares during the period. Finally, Asset Dedication LLC increased its position in Gartner by 46.5% during the third quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock worth $75,000 after purchasing an additional 47 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Gartner Price Performance

IT opened at $518.00 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31. The company’s 50-day moving average price is $519.61 and its 200 day moving average price is $479.95. Gartner, Inc. has a fifty-two week low of $411.15 and a fifty-two week high of $559.00. The firm has a market cap of $39.96 billion, a price-to-earnings ratio of 38.20, a price-to-earnings-growth ratio of 3.27 and a beta of 1.32.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.05. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the firm posted $2.56 earnings per share. The business’s revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts expect that Gartner, Inc. will post 11.89 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director James C. Smith sold 2,450 shares of Gartner stock in a transaction on Monday, November 11th. The stock was sold at an average price of $554.68, for a total value of $1,358,966.00. Following the transaction, the director now directly owns 529,844 shares in the company, valued at $293,893,869.92. The trade was a 0.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Yvonne Genovese sold 443 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $483.62, for a total transaction of $214,243.66. Following the sale, the executive vice president now directly owns 1,959 shares of the company’s stock, valued at $947,411.58. This represents a 18.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,172 shares of company stock worth $38,023,255. 3.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on IT shares. Robert W. Baird boosted their price objective on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Barclays boosted their target price on Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. UBS Group lifted their price target on shares of Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Bank of America increased their price objective on shares of Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $539.25.

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.