Commonwealth of Pennsylvania Public School Empls Retrmt SYS Raises Holdings in Gartner, Inc. (NYSE:IT)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Gartner, Inc. (NYSE:IT) by 0.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,112 shares of the information technology services provider’s stock after buying an additional 42 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Gartner were worth $8,157,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of IT. Norges Bank purchased a new position in Gartner in the 4th quarter valued at approximately $388,781,000. First Trust Advisors LP increased its position in Gartner by 830.4% during the fourth quarter. First Trust Advisors LP now owns 514,230 shares of the information technology services provider’s stock worth $231,974,000 after buying an additional 458,963 shares in the last quarter. Wellington Management Group LLP increased its position in Gartner by 12.0% during the fourth quarter. Wellington Management Group LLP now owns 1,852,820 shares of the information technology services provider’s stock worth $835,826,000 after buying an additional 198,274 shares in the last quarter. Franklin Resources Inc. increased its position in Gartner by 18.5% during the fourth quarter. Franklin Resources Inc. now owns 920,716 shares of the information technology services provider’s stock worth $415,344,000 after buying an additional 143,556 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Gartner by 26.3% during the fourth quarter. Mackenzie Financial Corp now owns 629,969 shares of the information technology services provider’s stock worth $284,185,000 after purchasing an additional 131,222 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Price Performance

IT traded up $11.08 during trading on Tuesday, reaching $466.10. The stock had a trading volume of 283,721 shares, compared to its average volume of 405,052. The firm has a market capitalization of $36.18 billion, a price-to-earnings ratio of 46.38, a price-to-earnings-growth ratio of 3.99 and a beta of 1.33. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.42. Gartner, Inc. has a 1-year low of $323.61 and a 1-year high of $486.54. The stock has a 50 day moving average of $442.29 and a two-hundred day moving average of $452.30.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.40. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Gartner had a return on equity of 141.55% and a net margin of 13.35%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.88 earnings per share. As a group, equities analysts anticipate that Gartner, Inc. will post 11.55 EPS for the current fiscal year.

Insider Buying and Selling at Gartner

In other news, Director James C. Smith sold 10,000 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $455.20, for a total value of $4,552,000.00. Following the transaction, the director now directly owns 608,369 shares of the company’s stock, valued at $276,929,568.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director James C. Smith sold 10,000 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $455.20, for a total value of $4,552,000.00. Following the transaction, the director now directly owns 608,369 shares of the company’s stock, valued at $276,929,568.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alwyn Dawkins sold 600 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $447.63, for a total transaction of $268,578.00. Following the completion of the sale, the executive vice president now owns 51,583 shares of the company’s stock, valued at $23,090,098.29. The disclosure for this sale can be found here. Insiders have sold a total of 22,544 shares of company stock valued at $10,079,813 in the last three months. 3.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Morgan Stanley lifted their target price on Gartner from $440.00 to $470.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. BMO Capital Markets reduced their target price on Gartner from $450.00 to $432.00 and set a “market perform” rating on the stock in a report on Thursday, May 2nd. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a report on Tuesday, July 9th. UBS Group reduced their price objective on Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft began coverage on Gartner in a research note on Tuesday, April 16th. They set a “hold” rating and a $507.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $478.50.

Gartner Company 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.