Kentucky Retirement Systems Decreases Position in Gartner, Inc. (NYSE:IT)

Kentucky Retirement Systems lowered its stake in shares of Gartner, Inc. (NYSE:IT) by 5.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,920 shares of the information technology services provider’s stock after selling 317 shares during the quarter. Kentucky Retirement Systems’ holdings in Gartner were worth $2,822,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of IT. RFG Advisory LLC raised its position in Gartner by 37.2% in the 4th quarter. RFG Advisory LLC now owns 1,589 shares of the information technology services provider’s stock valued at $717,000 after purchasing an additional 431 shares in the last quarter. TCW Group Inc. lifted its stake in Gartner by 4.0% in the fourth quarter. TCW Group Inc. now owns 199,062 shares of the information technology services provider’s stock worth $89,800,000 after acquiring an additional 7,639 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Gartner by 11.4% during the 1st quarter. Russell Investments Group Ltd. now owns 25,063 shares of the information technology services provider’s stock worth $11,987,000 after acquiring an additional 2,560 shares in the last quarter. Icon Wealth Advisors LLC purchased a new stake in shares of Gartner in the 4th quarter valued at approximately $2,093,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Gartner by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 461,813 shares of the information technology services provider’s stock valued at $208,328,000 after purchasing an additional 10,828 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Stock Performance

Shares of Gartner stock traded down $0.40 during trading on Monday, reaching $470.52. The company’s stock had a trading volume of 97,699 shares, compared to its average volume of 399,517. The firm has a market cap of $36.53 billion, a PE ratio of 46.90, a P/E/G ratio of 4.08 and a beta of 1.33. The company has a 50-day moving average price of $445.89 and a two-hundred day moving average price of $453.88. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.42. Gartner, Inc. has a fifty-two week low of $323.61 and a fifty-two week high of $486.54.

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

Insiders Place Their Bets

In other Gartner news, Director James C. Smith sold 10,000 shares of the business’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 approximately $276,929,568.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Alwyn Dawkins sold 600 shares of Gartner stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $447.63, for a total value of $268,578.00. Following the sale, the executive vice president now directly owns 51,583 shares in the company, valued at $23,090,098.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 value of $4,552,000.00. Following the completion of the sale, the director now directly owns 608,369 shares of the company’s stock, valued at approximately $276,929,568.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,544 shares of company stock valued at $10,079,813. 3.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

IT has been the topic of several recent analyst reports. Morgan Stanley increased 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. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Robert W. Baird lowered their target price on shares of Gartner from $536.00 to $517.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft started coverage on shares of Gartner in a research note on Tuesday, April 16th. They set a “hold” rating and a $507.00 price target on the stock. Finally, UBS Group decreased their price objective on shares of Gartner from $550.00 to $510.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $478.50.

About Gartner

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.