TCW Group Inc. Sells 3,443 Shares of Gartner, Inc. (NYSE:IT)

Key Points

• TCW Group Inc. reduced its stake in Gartner, Inc. by 1.6%, selling 3,443 shares and holding approximately 0.28% of the company valued at $90.79 million.
• Barclays and Wells Fargo have adjusted their price targets for Gartner, with Barclays lowering it to $475.00 and Wells Fargo to $345.00, reflecting varying analyst outlooks on the stock.
• Insider trading activity included CFO Craig Safian selling 3,415 shares for over $1.5 million, indicating a 4.20% decrease in his position in the company.

TCW Group Inc. lessened its stake in Gartner, Inc. (NYSE:IT - Free Report) by 1.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 216,299 shares of the information technology services provider's stock after selling 3,443 shares during the quarter. TCW Group Inc. owned about 0.28% of Gartner worth $90,789,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. FMR LLC increased its holdings in shares of Gartner by 8.6% in the fourth quarter. FMR LLC now owns 2,822,122 shares of the information technology services provider's stock worth $1,367,233,000 after acquiring an additional 223,087 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Gartner by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 2,063,577 shares of the information technology services provider's stock worth $998,400,000 after buying an additional 45,219 shares during the period. Wellington Management Group LLP boosted its position in shares of Gartner by 12.7% during the fourth quarter. Wellington Management Group LLP now owns 1,662,005 shares of the information technology services provider's stock worth $805,192,000 after buying an additional 187,854 shares during the period. Invesco Ltd. boosted its position in shares of Gartner by 6.7% during the fourth quarter. Invesco Ltd. now owns 955,134 shares of the information technology services provider's stock worth $462,734,000 after buying an additional 60,306 shares during the period. Finally, Norges Bank acquired a new position in shares of Gartner during the fourth quarter worth about $460,541,000. Institutional investors own 91.51% of the company's stock.

Wall Street Analyst Weigh In

IT has been the subject of several recent research reports. The Goldman Sachs Group reduced their price objective on Gartner from $622.00 to $535.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. UBS Group reduced their price objective on Gartner from $500.00 to $480.00 and set a "buy" rating for the company in a research report on Tuesday, July 15th. Morgan Stanley reduced their price objective on Gartner from $490.00 to $455.00 and set an "equal weight" rating for the company in a research report on Thursday. Wells Fargo & Company reduced their price objective on Gartner from $400.00 to $345.00 and set an "underweight" rating for the company in a research report on Friday, July 18th. Finally, Barclays reduced their price objective on Gartner from $510.00 to $475.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Gartner currently has an average rating of "Hold" and an average price target of $496.44.

Gartner Stock Performance

Shares of IT traded down $3.05 during mid-day trading on Thursday, reaching $340.75. The company's stock had a trading volume of 362,574 shares, compared to its average volume of 691,836. Gartner, Inc. has a 1-year low of $339.54 and a 1-year high of $584.01. The stock has a market cap of $26.23 billion, a P/E ratio of 21.21 and a beta of 1.19. The business has a 50-day simple moving average of $399.82 and a two-hundred day simple moving average of $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 - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.72 by $0.26. Gartner had a return on equity of 96.70% and a net margin of 19.82%. The company had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.53 billion. During the same period last year, the firm posted $2.93 earnings per share. The business's revenue was up 4.2% on a year-over-year basis. As a group, equities research analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Akhil Jain sold 625 shares of Gartner stock in a transaction that occurred 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 sale, the executive vice president directly owned 6,548 shares of the company's stock, valued at approximately $2,946,600. This trade represents a 8.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Robin B. Kranich sold 739 shares of Gartner stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $436.50, for a total value of $322,573.50. Following the sale, the executive vice president directly owned 20,464 shares of the company's stock, valued at approximately $8,932,536. The trade was a 3.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,426 shares of company stock valued at $2,430,327. Insiders own 2.30% of the company's stock.

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.