TD Asset Management Inc Has $67.67 Million Position in Gartner, Inc. (NYSE:IT)

Key Points

• TD Asset Management Inc increased its stake in Gartner, Inc. by 71.2%, acquiring an additional 67,037 shares to own a total of 161,221 shares worth approximately $67.67 million.
• Several large investors, including FMR LLC and Wellington Management Group LLP, also raised their stakes in Gartner during the fourth quarter, indicating confidence in the company's future performance.
• Gartner reported strong earnings results with $2.98 EPS and $1.54 billion in revenue for the quarter, surpassing analyst expectations.

TD Asset Management Inc boosted its position in Gartner, Inc. (NYSE:IT - Free Report) by 71.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 161,221 shares of the information technology services provider's stock after acquiring an additional 67,037 shares during the period. TD Asset Management Inc owned 0.21% of Gartner worth $67,671,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in IT. Cary Street Partners Financial LLC bought a new position in Gartner in the fourth quarter valued at about $27,000. Itau Unibanco Holding S.A. boosted its holdings in Gartner by 453.3% in the fourth quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider's stock valued at $40,000 after acquiring an additional 68 shares during the last quarter. Olde Wealth Management LLC bought a new position in Gartner in the first quarter valued at about $42,000. GW&K Investment Management LLC boosted its holdings in Gartner by 210.8% in the first quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider's stock valued at $48,000 after acquiring an additional 78 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new position in Gartner in the first quarter valued at about $55,000. Institutional investors own 91.51% of the company's stock.

Gartner Stock Down 0.7%

NYSE IT traded down $2.55 during trading on Thursday, hitting $341.25. The stock had a trading volume of 248,612 shares, compared to its average volume of 690,994. The company has a market capitalization of $26.27 billion, a PE ratio of 21.24 and a beta of 1.19. The company's 50-day moving average price is $399.82 and its two-hundred day moving average price is $440.79. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.09 and a current ratio of 1.09. Gartner, Inc. has a 12 month low of $340.31 and a 12 month high of $584.01.

Gartner (NYSE:IT - Get Free Report) last released its earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, beating the consensus estimate of $2.72 by $0.26. The firm had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.53 billion. Gartner had a return on equity of 96.70% and a net margin of 19.82%. The business's quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.93 EPS. As a group, sell-side analysts forecast that Gartner, Inc. will post 12.5 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wells Fargo & Company decreased 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 Gartner from $500.00 to $480.00 and set a "buy" rating on the stock in a report on Tuesday, July 15th. Barclays reduced their target price on Gartner from $510.00 to $475.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Finally, The Goldman Sachs Group reduced their target price on Gartner from $622.00 to $535.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $507.56.

Insider Activity

In other Gartner news, CFO Craig Safian sold 3,415 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $450.17, for a total transaction of $1,537,330.55. Following the transaction, the chief financial officer owned 77,890 shares of the company's stock, valued at $35,063,741.30. The trade was a 4.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP John J. Rinello sold 109 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $436.35, for a total value of $47,562.15. Following the transaction, the senior vice president directly owned 3,280 shares in the company, valued at $1,431,228. This trade represents a 3.22% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,426 shares of company stock worth $2,430,327. Corporate 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.