Gartner, Inc. (NYSE:IT) Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC cut its holdings in shares of Gartner, Inc. (NYSE:IT) by 5.3% in the fourth quarter, HoldingsChannel reports. The firm owned 212,334 shares of the information technology services provider’s stock after selling 11,818 shares during the period. Gartner accounts for about 1.5% of TimesSquare Capital Management LLC’s holdings, making the stock its 10th biggest holding. TimesSquare Capital Management LLC’s holdings in Gartner were worth $102,869,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IT. Assenagon Asset Management S.A. lifted its position in Gartner by 208.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 272,267 shares of the information technology services provider’s stock valued at $131,905,000 after purchasing an additional 183,974 shares during the period. Point72 Asset Management L.P. acquired a new position in Gartner during the third quarter valued at $70,955,000. Principal Financial Group Inc. lifted its position in Gartner by 5.5% during the third quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock valued at $1,014,099,000 after purchasing an additional 103,814 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Gartner during the third quarter valued at $36,789,000. Finally, JPMorgan Chase & Co. raised its position in shares of Gartner by 7.3% in the third quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock worth $525,272,000 after acquiring an additional 70,236 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Stock Performance

Gartner stock opened at $513.20 on Wednesday. The firm has a 50 day simple moving average of $510.10 and a 200-day simple moving average of $508.59. Gartner, Inc. has a 1-year low of $411.15 and a 1-year high of $584.01. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market cap of $39.58 billion, a price-to-earnings ratio of 32.02, a price-to-earnings-growth ratio of 3.37 and a beta of 1.34.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IT. Wells Fargo & Company decreased their price objective on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research report on Friday, January 10th. Morgan Stanley decreased their price objective on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th. Finally, Robert W. Baird upped their price objective on shares of Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Gartner has a consensus rating of “Hold” and an average price target of $552.63.

Insider Activity

In related news, Director James C. Smith sold 5,000 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $524.02, for a total value of $2,620,100.00. Following the transaction, the director now directly owns 509,457 shares of the company’s stock, valued at $266,965,657.14. This trade represents a 0.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP John J. Rinello sold 90 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the transaction, the senior vice president now directly owns 3,259 shares in the company, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, 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 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.