Mitsubishi UFJ Asset Management Co. Ltd. Grows Holdings in Gartner, Inc. (NYSE:IT)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Gartner, Inc. by 11.0%, owning 136,306 shares worth approximately $57.2 million as of the latest SEC filing.
• Several institutional investors, including FIL Ltd. and Advisory Services Network LLC, also made significant changes to their positions in Gartner during the fourth quarter.
• Gartner reported a quarterly earnings per share (EPS) of $3.53, surpassing expectations, while analysts have recently adjusted their price targets for the stock, reflecting a consensus rating of "Hold".

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Gartner, Inc. (NYSE:IT - Free Report) by 11.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 136,306 shares of the information technology services provider's stock after acquiring an additional 13,537 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.18% of Gartner worth $57,213,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Gartner by 1.8% in the first quarter. Vanguard Group Inc. now owns 9,433,449 shares of the information technology services provider's stock worth $3,959,596,000 after purchasing an additional 164,810 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Gartner by 9.4% during the first quarter. Goldman Sachs Group Inc. now owns 956,223 shares of the information technology services provider's stock valued at $401,365,000 after acquiring an additional 82,307 shares in the last quarter. Northern Trust Corp grew its stake in Gartner by 10.9% during the fourth quarter. Northern Trust Corp now owns 906,833 shares of the information technology services provider's stock valued at $439,333,000 after acquiring an additional 88,800 shares in the last quarter. Sustainable Growth Advisers LP grew its stake in Gartner by 26.3% during the first quarter. Sustainable Growth Advisers LP now owns 676,325 shares of the information technology services provider's stock valued at $283,881,000 after acquiring an additional 140,898 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Gartner by 12.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 649,567 shares of the information technology services provider's stock valued at $314,696,000 after acquiring an additional 74,422 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Gartner Trading Down 1.3%

Shares of Gartner stock traded down $3.01 during trading on Monday, reaching $226.00. The company's stock had a trading volume of 2,008,789 shares, compared to its average volume of 1,414,418. Gartner, Inc. has a 52-week low of $225.78 and a 52-week high of $584.01. The company has a market cap of $17.39 billion, a price-to-earnings ratio of 15.84 and a beta of 1.19. The firm's 50-day moving average is $371.31 and its two-hundred day moving average is $425.49. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61.

Gartner (NYSE:IT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 EPS for the quarter, beating analysts' consensus estimates of $3.38 by $0.15. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period in the prior year, the business posted $3.22 EPS. The firm's revenue was up 5.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current year.

Insider Activity at Gartner

In other Gartner news, CFO Craig Safian sold 3,415 shares of the company's stock in a transaction on 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 transaction, the chief financial officer directly owned 77,890 shares in the company, valued at approximately $35,063,741.30. This represents a 4.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Akhil Jain sold 625 shares of the company's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $450.00, for a total transaction of $281,250.00. Following the completion of the transaction, the executive vice president owned 6,548 shares of the company's stock, valued at $2,946,600. This trade represents a 8.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,578 shares of company stock worth $2,060,191 in the last three months. 3.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. UBS Group reaffirmed a "neutral" rating and set a $270.00 price objective (down previously from $480.00) on shares of Gartner in a research note on Wednesday, August 6th. Morgan Stanley dropped their price target on Gartner from $455.00 to $322.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 6th. Wells Fargo & Company cut their price objective on Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a report on Wednesday, August 6th. The Goldman Sachs Group decreased their price objective on Gartner from $535.00 to $457.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Finally, Barclays cut their target price on Gartner from $475.00 to $320.00 and set an "overweight" rating for the company in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $369.25.

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.