TCW Group Inc. Grows Stake in Gartner, Inc. (NYSE:IT)

TCW Group Inc. lifted its holdings in shares of Gartner, Inc. (NYSE:IT) by 6.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 219,742 shares of the information technology services provider’s stock after buying an additional 12,956 shares during the quarter. Gartner comprises 0.9% of TCW Group Inc.’s investment portfolio, making the stock its 29th biggest position. TCW Group Inc. owned about 0.28% of Gartner worth $106,458,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of IT. Eastern Bank bought a new position in Gartner in the 3rd quarter worth approximately $26,000. Kestra Investment Management LLC bought a new position in Gartner in the 4th quarter worth approximately $29,000. Ashton Thomas Securities LLC bought a new position in Gartner in the 3rd quarter worth approximately $44,000. True Wealth Design LLC boosted its holdings in Gartner by 2,350.0% in the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after buying an additional 94 shares during the period. Finally, Fortitude Family Office LLC boosted its holdings in Gartner by 23.8% in the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after buying an additional 20 shares during the period. 91.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on IT shares. Wells Fargo & Company cut their price objective on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a report on Friday, January 10th. Robert W. Baird raised their price objective on shares of Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. Morgan Stanley lowered their target price on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Finally, StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $552.63.

Insider Activity

In related news, SVP John J. Rinello sold 90 shares of Gartner stock in a transaction on Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the transaction, the senior vice president now owns 3,259 shares in the company, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James C. Smith sold 5,000 shares of Gartner stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $524.02, for a total transaction of $2,620,100.00. Following the completion of the transaction, the director now owns 509,457 shares in the company, valued at approximately $266,965,657.14. The trade was a 0.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,690 shares of company stock worth $2,981,025. 3.60% of the stock is currently owned by corporate insiders.

Gartner Stock Performance

Gartner stock opened at $487.44 on Friday. The firm’s fifty day moving average price is $509.42 and its 200-day moving average price is $509.30. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market cap of $37.44 billion, a P/E ratio of 30.41, a price-to-earnings-growth ratio of 3.30 and a beta of 1.34. Gartner, Inc. has a fifty-two week low of $411.15 and a fifty-two week high of $584.01.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, beating the consensus estimate of $3.22 by $2.23. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the company posted $3.04 EPS. On average, equities research analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current fiscal 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.