Banque Cantonale Vaudoise Makes New $2.38 Million Investment in Gartner, Inc. (NYSE:IT)

Banque Cantonale Vaudoise bought a new position in Gartner, Inc. (NYSE:IT) during the first quarter, HoldingsChannel.com reports. The fund bought 5,681 shares of the information technology services provider’s stock, valued at approximately $2,384,000.

Several other hedge funds have also recently made changes to their positions in IT. Cary Street Partners Financial LLC bought a new stake in Gartner during the fourth quarter worth approximately $27,000. Itau Unibanco Holding S.A. boosted its holdings in shares of Gartner by 453.3% in the 4th quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider’s stock worth $40,000 after purchasing an additional 68 shares during the period. Olde Wealth Management LLC purchased a new position in shares of Gartner in the 1st quarter worth approximately $42,000. GW&K Investment Management LLC increased its position in shares of Gartner by 210.8% during the 1st quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 78 shares during the last quarter. Finally, Wayfinding Financial LLC purchased a new stake in Gartner during the 1st quarter valued at $55,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Gartner Trading Down 0.7%

NYSE IT opened at $349.91 on Wednesday. The stock has a market cap of $26.93 billion, a PE ratio of 21.77 and a beta of 1.19. Gartner, Inc. has a 12 month low of $348.64 and a 12 month high of $584.01. The company’s 50-day moving average price is $399.82 and its 200-day moving average price is $440.79. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.64.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.72 by $0.26. Gartner had a net margin of 19.82% and a return on equity of 96.70%. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the firm earned $2.93 EPS. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. Equities research analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on IT. Barclays dropped their price objective on shares of Gartner from $510.00 to $475.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. UBS Group lowered their target price on shares of Gartner from $500.00 to $480.00 and set a “buy” rating for the company in a report on Tuesday, July 15th. The Goldman Sachs Group cut their price target on shares of Gartner from $622.00 to $535.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Finally, Wells Fargo & Company decreased their price objective on shares of Gartner from $400.00 to $345.00 and set an “underweight” rating for the company in a research note on Friday, July 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $507.56.

Insider Buying and Selling

In other news, EVP William James Wartinbee III sold 538 shares of the firm’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $449.09, for a total transaction of $241,610.42. Following the transaction, the executive vice president owned 7,965 shares in the company, valued at approximately $3,577,001.85. This trade represents a 6.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Craig Safian sold 3,415 shares of Gartner stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $450.17, for a total value of $1,537,330.55. Following the completion of the sale, the chief financial officer owned 77,890 shares of the company’s stock, valued at $35,063,741.30. The trade was a 4.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,426 shares of company stock valued at $2,430,327 over the last 90 days. 3.60% of the stock is owned by insiders.

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.