Public Employees Retirement Association of Colorado Lowers Stock Position in Gartner, Inc. (NYSE:IT)

Public Employees Retirement Association of Colorado lessened its stake in shares of Gartner, Inc. (NYSE:IT) by 6.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,177 shares of the information technology services provider’s stock after selling 599 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Gartner were worth $3,898,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. MCF Advisors LLC purchased a new stake in Gartner during the fourth quarter worth about $27,000. Frazier Financial Advisors LLC purchased a new stake in Gartner during the fourth quarter worth about $27,000. AdvisorNet Financial Inc increased its holdings in Gartner by 59.5% during the fourth quarter. AdvisorNet Financial Inc now owns 67 shares of the information technology services provider’s stock worth $30,000 after buying an additional 25 shares during the last quarter. DSM Capital Partners LLC purchased a new stake in Gartner during the fourth quarter worth about $32,000. Finally, Harbor Investment Advisory LLC increased its holdings in Gartner by 7,500.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 76 shares of the information technology services provider’s stock worth $34,000 after buying an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Gartner

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

Gartner Price Performance

Shares of IT stock traded down $0.99 during trading hours on Monday, reaching $469.93. The stock had a trading volume of 266,985 shares, compared to its average volume of 400,693. The stock’s fifty day simple moving average is $445.89 and its 200 day simple moving average is $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 12 month low of $323.61 and a 12 month high of $486.54. The firm has a market capitalization of $36.48 billion, a PE ratio of 46.90, a PEG ratio of 4.08 and a beta of 1.33.

Gartner (NYSE:IT) last released its quarterly earnings data 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 company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period last year, the business earned $2.88 earnings per share. Gartner’s revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts predict that Gartner, Inc. will post 11.63 EPS for the current year.

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.