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

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Gartner, Inc. (NYSE:IT) by 8.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 122,769 shares of the information technology services provider’s stock after purchasing an additional 9,210 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of Gartner worth $59,662,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

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

Analyst Ratings Changes

Several research firms recently commented on IT. Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $525.00 to $600.00 in a report on Friday, January 10th. Morgan Stanley lowered their price objective on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. UBS Group cut 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 dropped their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. Finally, Robert W. Baird reduced their price objective on Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. 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, the company has a consensus rating of “Hold” and a consensus price target of $536.63.

Gartner Stock Performance

Shares of IT opened at $418.57 on Friday. The business has a 50-day simple moving average of $494.18 and a two-hundred day simple moving average of $505.53. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. Gartner, Inc. has a 52 week low of $409.50 and a 52 week high of $584.01. The stock has a market cap of $32.15 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 3.30 and a beta of 1.29.

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