TimesSquare Capital Management LLC Purchases 5,475 Shares of Gartner, Inc. (NYSE:IT)

TimesSquare Capital Management LLC grew its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 2.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 217,809 shares of the information technology services provider's stock after acquiring an additional 5,475 shares during the quarter. Gartner comprises approximately 1.5% of TimesSquare Capital Management LLC's holdings, making the stock its 14th largest position. TimesSquare Capital Management LLC owned approximately 0.28% of Gartner worth $91,423,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in IT. Vanguard Group Inc. raised its position in shares of Gartner by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 9,268,639 shares of the information technology services provider's stock worth $4,490,378,000 after purchasing an additional 100,917 shares during the period. FMR LLC raised its position in Gartner by 8.6% during the fourth quarter. FMR LLC now owns 2,822,122 shares of the information technology services provider's stock valued at $1,367,233,000 after buying an additional 223,087 shares during the period. Geode Capital Management LLC raised its position in 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 valued at $998,400,000 after buying an additional 45,219 shares during the period. Wellington Management Group LLP raised its position in 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 valued at $805,192,000 after buying an additional 187,854 shares during the period. Finally, Invesco Ltd. raised its position in Gartner by 6.7% during the fourth quarter. Invesco Ltd. now owns 955,134 shares of the information technology services provider's stock valued at $462,734,000 after buying an additional 60,306 shares during the period. Institutional investors and hedge funds own 91.51% of the company's stock.

Insider Buying and Selling at Gartner

In other news, SVP John J. Rinello sold 109 shares of the stock in a transaction 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 completion of the transaction, the senior vice president directly owned 3,280 shares in the company, valued at approximately $1,431,228. This represents a 3.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William James Wartinbee III sold 538 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $449.09, for a total value of $241,610.42. Following the transaction, the executive vice president directly owned 7,965 shares of the company's stock, valued at approximately $3,577,001.85. This represents a 6.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,426 shares of company stock valued at $2,430,327. 2.30% of the stock is currently owned by insiders.

Gartner Stock Performance

Gartner stock traded down $8.20 during midday trading on Tuesday, reaching $365.09. 390,786 shares of the company's stock were exchanged, compared to its average volume of 669,390. Gartner, Inc. has a 52 week low of $364.00 and a 52 week high of $584.01. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market cap of $28.10 billion, a price-to-earnings ratio of 22.73, a P/E/G ratio of 2.43 and a beta of 1.19. The stock's 50-day simple moving average is $419.94 and its 200 day simple moving average is $451.40.

Gartner (NYSE:IT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share (EPS) for the quarter, topping 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 quarter in the previous year, the company posted $2.93 earnings per share. The business's revenue was up 4.2% on a year-over-year basis. On average, analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IT. Wall Street Zen lowered Gartner from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Barclays lowered their target price on Gartner from $510.00 to $475.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Wells Fargo & Company decreased their price target on Gartner from $401.00 to $400.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. UBS Group dropped their target price on Gartner from $500.00 to $480.00 and set a "buy" rating for the company in a report on Tuesday. Finally, The Goldman Sachs Group decreased their price target on Gartner from $622.00 to $535.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Gartner currently has an average rating of "Hold" and a consensus price target of $513.67.

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.