TD Asset Management Inc Acquires 67,037 Shares of Gartner, Inc. (NYSE:IT)

TD Asset Management Inc boosted its holdings in Gartner, Inc. (NYSE:IT) by 71.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 161,221 shares of the information technology services provider’s stock after acquiring an additional 67,037 shares during the quarter. TD Asset Management Inc’s holdings in Gartner were worth $67,671,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC bought a new stake in shares of Gartner during the fourth quarter worth $309,000. Commonwealth Equity Services LLC boosted its holdings in shares of Gartner by 0.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 3,379 shares of the information technology services provider’s stock valued at $1,637,000 after acquiring an additional 30 shares in the last quarter. LPL Financial LLC grew its position in Gartner by 0.6% during the 4th quarter. LPL Financial LLC now owns 30,726 shares of the information technology services provider’s stock worth $14,886,000 after acquiring an additional 191 shares during the last quarter. New Age Alpha Advisors LLC grew its position in Gartner by 28,040.0% during the 4th quarter. New Age Alpha Advisors LLC now owns 5,628 shares of the information technology services provider’s stock worth $2,727,000 after acquiring an additional 5,608 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its holdings in Gartner by 3.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 42,636 shares of the information technology services provider’s stock worth $20,656,000 after purchasing an additional 1,380 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Gartner Price Performance

IT stock opened at $356.83 on Monday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.64. The firm has a market cap of $27.47 billion, a price-to-earnings ratio of 22.20 and a beta of 1.19. The company’s fifty day simple moving average is $403.72 and its 200 day simple moving average is $442.38. Gartner, Inc. has a 12-month low of $352.29 and a 12-month high of $584.01.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.72 by $0.26. Gartner had a return on equity of 96.70% and a net margin of 19.82%. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the company posted $2.93 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. On average, analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on IT shares. Wells Fargo & Company reduced their price target on Gartner from $400.00 to $345.00 and set an “underweight” rating on the stock in a report on Friday, July 18th. UBS Group reduced their target price on shares of Gartner from $500.00 to $480.00 and set a “buy” rating on the stock in a report on Tuesday, July 15th. Barclays dropped their price target 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. Finally, The Goldman Sachs Group reduced their price objective on shares of Gartner from $622.00 to $535.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Gartner has a consensus rating of “Hold” and an average target price of $507.56.

Insider Transactions at Gartner

In related news, SVP John J. Rinello sold 109 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $436.35, for a total transaction of $47,562.15. Following the transaction, the senior vice president directly owned 3,280 shares of the company’s stock, valued at $1,431,228. This represents a 3.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Craig Safian sold 3,415 shares of Gartner stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $450.17, for a total transaction of $1,537,330.55. Following the completion of the sale, the chief financial officer directly owned 77,890 shares of the company’s stock, valued at approximately $35,063,741.30. This trade represents a 4.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,426 shares of company stock valued at $2,430,327. 3.60% of the stock is owned by insiders.

About Gartner

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.