TCW Group Inc. Increases Stake in Gartner, Inc. (NYSE:IT)

TCW Group Inc. raised its holdings in shares of Gartner, Inc. (NYSE:IT) by 4.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 199,062 shares of the information technology services provider’s stock after buying an additional 7,639 shares during the quarter. Gartner comprises about 1.0% of TCW Group Inc.’s portfolio, making the stock its 26th biggest holding. TCW Group Inc.’s holdings in Gartner were worth $89,800,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Morgan Stanley lifted its stake in shares of Gartner by 4.6% in the 3rd quarter. Morgan Stanley now owns 2,157,075 shares of the information technology services provider’s stock valued at $741,193,000 after purchasing an additional 95,040 shares during the last quarter. Brown Advisory Inc. boosted its position in shares of Gartner by 4.6% during the 4th quarter. Brown Advisory Inc. now owns 1,208,914 shares of the information technology services provider’s stock worth $545,353,000 after purchasing an additional 52,826 shares during the period. Franklin Resources Inc. lifted its stake in Gartner by 18.5% during the fourth quarter. Franklin Resources Inc. now owns 920,716 shares of the information technology services provider’s stock worth $415,344,000 after purchasing an additional 143,556 shares in the last quarter. Norges Bank acquired a new stake in shares of Gartner in the fourth quarter valued at $388,781,000. Finally, Invesco Ltd. lifted its stake in Gartner by 6.7% during the 3rd quarter. Invesco Ltd. now owns 740,957 shares of the information technology services provider’s stock worth $254,600,000 after acquiring an additional 46,425 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Gartner

In other news, Director James C. Smith sold 10,000 shares of Gartner stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $459.68, for a total value of $4,596,800.00. Following the transaction, the director now directly owns 623,235 shares of the company’s stock, valued at approximately $286,488,664.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director James C. Smith sold 10,000 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $459.68, for a total value of $4,596,800.00. Following the completion of the sale, the director now directly owns 623,235 shares in the company, valued at approximately $286,488,664.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Akhil Jain sold 250 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $464.55, for a total value of $116,137.50. Following the transaction, the executive vice president now owns 5,239 shares in the company, valued at approximately $2,433,777.45. The disclosure for this sale can be found here. Insiders have sold a total of 27,709 shares of company stock worth $12,766,365 in the last three months. Company insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

IT has been the topic of several recent research reports. Robert W. Baird cut their target price on shares of Gartner from $536.00 to $517.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Morgan Stanley lifted their price objective on shares of Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a report on Saturday, May 18th. UBS Group cut their price objective on shares of Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Gartner in a report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 target price for the company. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $474.50.

Gartner Stock Performance

Shares of IT stock traded down $6.24 during trading hours on Thursday, reaching $445.69. 337,171 shares of the company’s stock were exchanged, compared to its average volume of 401,474. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.91 and a quick ratio of 0.91. The company’s 50 day moving average is $456.15 and its two-hundred day moving average is $450.13. The company has a market cap of $34.60 billion, a P/E ratio of 44.94, a price-to-earnings-growth ratio of 3.93 and a beta of 1.32. Gartner, Inc. has a 1 year low of $323.61 and a 1 year high of $486.54.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.40. Gartner had a net margin of 13.35% and a return on equity of 141.55%. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter last year, the business earned $2.88 earnings per share. Gartner’s revenue was up 4.5% compared to the same quarter last year. Equities research analysts anticipate that Gartner, Inc. will post 11.55 EPS for the current fiscal year.

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.