TD Asset Management Inc Buys 10,994 Shares of Gartner, Inc. $IT

Key Points

• TD Asset Management Inc has increased its stake in Gartner, Inc. by 6.8%, acquiring an additional 10,994 shares in the second quarter, bringing its total to 172,215 shares worth approximately $69.6 million.
• Several institutional investors have also altered their positions in Gartner, contributing to a total institutional ownership of 91.51% of the company's stock.
• Analysts have recently downgraded Gartner's price targets, with Goldman Sachs lowering its target from $535 to $457 and Wells Fargo reducing it from $345 to $225, while maintaining varying ratings from "buy" to "underweight."

TD Asset Management Inc grew its position in shares of Gartner, Inc. (NYSE:IT - Free Report) by 6.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 172,215 shares of the information technology services provider's stock after acquiring an additional 10,994 shares during the quarter. TD Asset Management Inc owned 0.22% of Gartner worth $69,613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in IT. Brighton Jones LLC bought a new position in shares of Gartner during the fourth quarter valued at about $309,000. Wealth Enhancement Advisory Services LLC increased its stake in Gartner by 1.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 28,612 shares of the information technology services provider's stock valued at $12,009,000 after buying an additional 352 shares during the last quarter. Sowell Financial Services LLC bought a new position in shares of Gartner during the 1st quarter worth approximately $774,000. Sagespring Wealth Partners LLC boosted its stake in shares of Gartner by 14.9% in the 1st quarter. Sagespring Wealth Partners LLC now owns 670 shares of the information technology services provider's stock worth $281,000 after buying an additional 87 shares during the last quarter. Finally, Clarius Group LLC purchased a new position in shares of Gartner in the 1st quarter worth approximately $243,000. Institutional investors own 91.51% of the company's stock.

Insiders Place Their Bets

In other news, SVP John J. Rinello sold 105 shares of Gartner stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $249.71, for a total value of $26,219.55. Following the completion of the transaction, the senior vice president directly owned 3,225 shares in the company, valued at approximately $805,314.75. The trade was a 3.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jose M. Gutierrez acquired 417 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were bought at an average cost of $239.80 per share, for a total transaction of $99,996.60. Following the acquisition, the director directly owned 2,080 shares in the company, valued at $498,784. This represents a 25.08% increase in their position. The disclosure for this purchase can be found here. Insiders own 2.30% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on IT shares. The Goldman Sachs Group decreased their price target on Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Wells Fargo & Company decreased their target price on Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a research report on Wednesday, August 6th. Morgan Stanley set a $307.00 price target on shares of Gartner in a report on Monday. Barclays decreased their price objective on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating for the company in a report on Wednesday, August 6th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Gartner in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Gartner currently has a consensus rating of "Hold" and a consensus target price of $356.89.

Gartner Price Performance

NYSE IT opened at $236.75 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61. The company has a market cap of $17.93 billion, a PE ratio of 14.57 and a beta of 1.20. Gartner, Inc. has a 52 week low of $223.65 and a 52 week high of $584.01. The firm's 50-day simple moving average is $247.04 and its two-hundred day simple moving average is $347.74.

Gartner (NYSE:IT - Get Free Report) last posted its earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share for the quarter, topping the consensus estimate of $3.38 by $0.15. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The company's revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the company earned $3.22 earnings per share. Gartner has set its FY 2025 guidance at 11.750- EPS. Research analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current 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.

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