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

TimesSquare Capital Management LLC trimmed its position in shares of Gartner, Inc. (NYSE:IT) by 27.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 243,412 shares of the information technology services provider’s stock after selling 92,031 shares during the period. Gartner makes up approximately 1.6% of TimesSquare Capital Management LLC’s portfolio, making the stock its 7th biggest holding. TimesSquare Capital Management LLC’s holdings in Gartner were worth $109,806,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new position in shares of Gartner during the third quarter valued at about $25,000. BKM Wealth Management LLC bought a new stake in Gartner during the fourth quarter worth $26,000. MCF Advisors LLC bought a new position in Gartner during the 4th quarter valued at $27,000. VisionPoint Advisory Group LLC boosted its holdings in Gartner by 254.2% during the third quarter. VisionPoint Advisory Group LLC now owns 85 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 61 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC grew its holdings in shares of Gartner by 357.9% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 87 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 68 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Activity

In other news, EVP Akhil Jain sold 250 shares of Gartner stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $464.55, for a total value of $116,137.50. Following the transaction, the executive vice president now owns 5,239 shares in the company, valued at $2,433,777.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Gartner news, EVP Akhil Jain sold 250 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $464.55, for a total transaction of $116,137.50. Following the completion of the sale, the executive vice president now owns 5,239 shares of the company’s stock, valued at approximately $2,433,777.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Yvonne Genovese sold 560 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $457.37, for a total transaction of $256,127.20. Following the completion of the transaction, the executive vice president now owns 2,398 shares in the company, valued at approximately $1,096,773.26. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,952 shares of company stock valued at $10,598,070. Corporate insiders own 3.60% of the company’s stock.

Gartner Price Performance

NYSE:IT traded up $2.48 during midday trading on Thursday, hitting $436.75. The company had a trading volume of 355,621 shares, compared to its average volume of 407,849. The stock’s fifty day moving average price is $460.91 and its 200-day moving average price is $442.68. Gartner, Inc. has a 52-week low of $302.74 and a 52-week high of $486.54. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.42. The company has a market capitalization of $34.05 billion, a PE ratio of 43.35, a P/E/G ratio of 3.44 and a beta of 1.32.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.40. Gartner had a return on equity of 141.55% and a net margin of 13.35%. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same period last year, the firm posted $2.88 EPS. Gartner’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, research analysts expect that Gartner, Inc. will post 11.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IT. Deutsche Bank Aktiengesellschaft initiated coverage on Gartner in a report on Tuesday, April 16th. They set a “hold” rating and a $507.00 price target on the stock. UBS Group lowered their target price on Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd. Robert W. Baird reduced their price target on Gartner from $536.00 to $517.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Finally, Morgan Stanley raised their target price on Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $474.50.

About Gartner

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.