Toronto Dominion Bank Acquires 38,529 Shares of Gartner, Inc. (NYSE:IT)

Toronto Dominion Bank lifted its holdings in Gartner, Inc. (NYSE:IT) by 79.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 86,899 shares of the information technology services provider’s stock after acquiring an additional 38,529 shares during the period. Toronto Dominion Bank owned 0.11% of Gartner worth $41,422,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in IT. BKM Wealth Management LLC purchased a new stake in Gartner in the 4th quarter worth about $26,000. SG Americas Securities LLC increased its position in shares of Gartner by 48.8% during the fourth quarter. SG Americas Securities LLC now owns 6,098 shares of the information technology services provider’s stock worth $2,751,000 after acquiring an additional 2,000 shares during the period. HB Wealth Management LLC increased its position in shares of Gartner by 2.6% during the fourth quarter. HB Wealth Management LLC now owns 1,073 shares of the information technology services provider’s stock worth $484,000 after acquiring an additional 27 shares during the period. CVA Family Office LLC purchased a new position in shares of Gartner during the fourth quarter worth approximately $111,000. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of Gartner by 53.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 4,269 shares of the information technology services provider’s stock worth $1,926,000 after acquiring an additional 1,486 shares during the period. Institutional investors own 91.51% of the company’s stock.

Gartner Stock Up 1.9 %

IT traded up $8.93 during trading on Friday, hitting $470.92. The stock had a trading volume of 421,053 shares, compared to its average volume of 401,628. The company has a market capitalization of $36.56 billion, a PE ratio of 46.86, a PEG ratio of 3.98 and a beta of 1.33. Gartner, Inc. has a twelve month low of $323.61 and a twelve month high of $486.54. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a 50 day simple moving average of $445.48 and a two-hundred day simple moving average of $453.43.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.40. Gartner had a net margin of 13.35% and a return on equity of 141.55%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period last year, the firm earned $2.88 earnings per share. Gartner’s revenue was up 4.5% compared to the same quarter last year. On average, research analysts predict that Gartner, Inc. will post 11.63 earnings per share for the current year.

Insider Transactions at Gartner

In other news, Director James C. Smith sold 10,000 shares of Gartner stock in a transaction on Monday, May 20th. The shares were sold at an average price of $455.20, for a total transaction of $4,552,000.00. Following the completion of the sale, the director now directly owns 608,369 shares in the company, valued at $276,929,568.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director James C. Smith sold 10,000 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $455.20, for a total transaction of $4,552,000.00. Following the completion of the transaction, the director now owns 608,369 shares of the company’s stock, valued at $276,929,568.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Yvonne Genovese sold 439 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $456.13, for a total transaction of $200,241.07. Following the transaction, the executive vice president now directly owns 1,959 shares of the company’s stock, valued at approximately $893,558.67. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,544 shares of company stock worth $10,079,813. Company insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on IT shares. Robert W. Baird reduced their target price on shares of Gartner from $536.00 to $517.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. BMO Capital Markets reduced their target price on shares of Gartner from $450.00 to $432.00 and set a “market perform” rating on the stock in a research report on Thursday, May 2nd. Morgan Stanley lifted their price objective on shares of Gartner from $440.00 to $470.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. UBS Group cut their price objective on shares of Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Gartner in a report on Tuesday, April 16th. They set a “hold” rating and a $507.00 price objective on the stock. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $478.50.

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.