Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Holdings in Gartner, Inc. (NYSE:IT)

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Gartner, Inc. (NYSE:IT) by 8.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 122,769 shares of the information technology services provider’s stock after buying an additional 9,210 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Gartner were worth $59,662,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in IT. Kestra Investment Management LLC purchased a new stake in Gartner during the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. bought a new position in shares of Gartner during the 4th quarter valued at approximately $49,000. True Wealth Design LLC raised its holdings in Gartner by 2,350.0% during the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock valued at $50,000 after buying an additional 94 shares during the period. Promus Capital LLC bought a new stake in Gartner in the fourth quarter worth $57,000. Finally, Global Retirement Partners LLC boosted its stake in Gartner by 14.0% during the fourth quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider’s stock worth $134,000 after buying an additional 34 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Robert W. Baird reduced their target price on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. UBS Group decreased their price target on Gartner from $565.00 to $500.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $525.00 to $600.00 in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $536.63.

Insider Activity

In other news, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $530.51, for a total value of $47,745.90. Following the completion of the sale, the senior vice president now owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eileen Serra sold 1,200 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $489.77, for a total value of $587,724.00. Following the transaction, the director now directly owns 1,627 shares in the company, valued at $796,855.79. This represents a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.

Gartner Price Performance

IT opened at $418.57 on Friday. The company has a market capitalization of $32.15 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 3.30 and a beta of 1.29. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. Gartner, Inc. has a 12-month low of $409.50 and a 12-month high of $584.01. The business’s fifty day simple moving average is $494.18 and its 200-day simple moving average is $505.53.

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

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.