Gartner, Inc. (NYSE:IT) Stock Position Decreased by Toronto Dominion Bank

Toronto Dominion Bank lessened its holdings in shares of Gartner, Inc. (NYSE:IT) by 1.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 52,888 shares of the information technology services provider’s stock after selling 606 shares during the period. Toronto Dominion Bank owned 0.06% of Gartner worth $9,654,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in IT. BlackRock Inc. boosted its stake in Gartner by 1.8% during the 1st quarter. BlackRock Inc. now owns 6,009,892 shares of the information technology services provider’s stock valued at $1,097,107,000 after purchasing an additional 105,577 shares during the period. Bamco Inc. NY boosted its stake in Gartner by 0.3% during the 4th quarter. Bamco Inc. NY now owns 5,665,435 shares of the information technology services provider’s stock valued at $907,546,000 after purchasing an additional 15,787 shares during the period. Norges Bank acquired a new position in Gartner during the 4th quarter valued at about $132,978,000. Charles Schwab Investment Management Inc. boosted its stake in Gartner by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 659,712 shares of the information technology services provider’s stock valued at $105,680,000 after purchasing an additional 5,692 shares during the period. Finally, Morgan Stanley boosted its stake in Gartner by 28.1% during the 4th quarter. Morgan Stanley now owns 462,351 shares of the information technology services provider’s stock valued at $74,065,000 after purchasing an additional 101,494 shares during the period. 92.11% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE IT opened at $230.98 on Friday. The stock has a fifty day moving average of $213.84. The firm has a market cap of $19.88 billion, a PE ratio of 58.18, a price-to-earnings-growth ratio of 2.65 and a beta of 1.59. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 2.19. Gartner, Inc. has a 52-week low of $114.36 and a 52-week high of $239.09.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, May 4th. The information technology services provider reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.95. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.05 billion. Gartner had a return on equity of 50.82% and a net margin of 8.50%. Gartner’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.20 earnings per share. As a group, sell-side analysts expect that Gartner, Inc. will post 6.45 EPS for the current year.

Gartner declared that its Board of Directors has approved a share repurchase plan on Tuesday, May 4th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

In other Gartner news, CEO Eugene A. Hall sold 35,170 shares of the business’s stock in a transaction dated Friday, May 7th. The stock was sold at an average price of $233.16, for a total value of $8,200,237.20. Following the transaction, the chief executive officer now owns 1,312,270 shares in the company, valued at $305,968,873.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alwyn Dawkins sold 6,396 shares of the business’s stock in a transaction dated Wednesday, May 5th. The shares were sold at an average price of $226.28, for a total value of $1,447,286.88. Following the completion of the transaction, the executive vice president now owns 45,572 shares in the company, valued at approximately $10,312,032.16. The disclosure for this sale can be found here. Insiders have sold 59,850 shares of company stock worth $13,887,776 in the last quarter. 3.60% of the stock is currently owned by corporate insiders.

A number of research analysts have issued reports on IT shares. TheStreet raised shares of Gartner from a “c+” rating to a “b+” rating in a research note on Friday, March 12th. Morgan Stanley upped their price target on shares of Gartner from $204.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 5th. Finally, Zacks Investment Research raised shares of Gartner from a “hold” rating to a “strong-buy” rating and set a $266.00 price target for the company in a research note on Friday, May 7th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Gartner has a consensus rating of “Buy” and a consensus target price of $203.00.

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 offers objective insights and advice on the priorities of various leaders in a range of functional areas of the enterprise through reports, briefings, proprietary tools, access to research expert, peer networking services, and membership programs that enable clients to drive organizational performance.

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Institutional Ownership by Quarter for Gartner (NYSE:IT)

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