Meiji Yasuda Asset Management Co Ltd. Boosts Holdings in Gartner, Inc. (NYSE:IT)

Meiji Yasuda Asset Management Co Ltd. increased its position in Gartner, Inc. (NYSE:IT) by 7.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,643 shares of the information technology services provider’s stock after purchasing an additional 107 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Gartner were worth $796,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in IT. Vanguard Group Inc. increased its holdings in Gartner by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 9,268,639 shares of the information technology services provider’s stock worth $4,490,378,000 after purchasing an additional 100,917 shares during the last quarter. State Street Corp grew its position in shares of Gartner by 1.1% during the third quarter. State Street Corp now owns 3,257,355 shares of the information technology services provider’s stock worth $1,650,697,000 after buying an additional 36,258 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Gartner by 1.9% in the third quarter. Geode Capital Management LLC now owns 2,018,358 shares of the information technology services provider’s stock worth $1,020,378,000 after buying an additional 36,698 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Gartner by 0.6% in the fourth quarter. Principal Financial Group Inc. now owns 2,012,799 shares of the information technology services provider’s stock valued at $975,141,000 after acquiring an additional 11,657 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Gartner by 7.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock valued at $525,272,000 after acquiring an additional 70,236 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Gartner

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IT. UBS Group dropped their target price on shares of Gartner from $565.00 to $500.00 and set a “buy” rating for the company in a research report on Tuesday. Wells Fargo & Company lowered their price objective on 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 reduced their target price on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Morgan Stanley lowered their price target on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Finally, Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $536.63.

Gartner Price Performance

Shares of IT opened at $425.11 on Friday. Gartner, Inc. has a 12 month low of $409.50 and a 12 month 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 fifty day moving average price of $496.14 and a 200 day moving average price of $506.04. The company has a market cap of $32.66 billion, a P/E ratio of 26.52, a PEG ratio of 3.30 and a beta of 1.29.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $2.23. The business 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 company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.04 EPS. On average, research analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current 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.