Louisiana State Employees Retirement System Sells 100 Shares of Gartner, Inc. (NYSE:IT)

Louisiana State Employees Retirement System lessened its stake in Gartner, Inc. (NYSE:IT) by 2.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 4,400 shares of the information technology services provider’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Gartner were worth $1,976,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in IT. Frazier Financial Advisors LLC bought a new stake in shares of Gartner during the 4th quarter valued at about $27,000. DSM Capital Partners LLC bought a new stake in shares of Gartner during the 4th quarter valued at about $32,000. Central Pacific Bank Trust Division bought a new stake in shares of Gartner during the 1st quarter valued at about $36,000. Hexagon Capital Partners LLC boosted its position in shares of Gartner by 36.2% during the 4th quarter. Hexagon Capital Partners LLC now owns 94 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 25 shares in the last quarter. Finally, Altshuler Shaham Ltd bought a new stake in shares of Gartner during the 4th quarter valued at about $67,000. Institutional investors own 91.51% of the company’s stock.

Insider Transactions at Gartner

In other news, EVP Akhil Jain sold 400 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $485.00, for a total value of $194,000.00. Following the completion of the sale, the executive vice president now directly owns 4,839 shares of the company’s stock, valued at $2,346,915. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Anne Sutherland Fuchs sold 705 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $428.99, for a total value of $302,437.95. Following the completion of the transaction, the director now directly owns 8,524 shares of the company’s stock, valued at $3,656,710.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Akhil Jain sold 400 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $485.00, for a total value of $194,000.00. Following the completion of the transaction, the executive vice president now directly owns 4,839 shares of the company’s stock, valued at $2,346,915. The disclosure for this sale can be found here. Insiders sold a total of 32,680 shares of company stock valued at $15,581,792 over the last ninety days. 3.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

IT has been the topic of several research analyst reports. Bank of America upped their target price on Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Wells Fargo & Company raised Gartner to a “strong sell” rating in a research note on Tuesday, August 13th. Morgan Stanley upped their price target on Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Finally, BMO Capital Markets upped their price target on Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $521.00.

Gartner Stock Performance

Shares of Gartner stock opened at $480.86 on Friday. The company has a market cap of $37.33 billion, a PE ratio of 47.85, a price-to-earnings-growth ratio of 3.80 and a beta of 1.33. Gartner, Inc. has a 52 week low of $323.61 and a 52 week high of $509.15. The business has a 50 day moving average price of $464.03 and a 200-day moving average price of $456.67. The company has a quick ratio of 0.91, a current ratio of 0.90 and a debt-to-equity ratio of 3.80.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, topping the consensus estimate of $3.02 by $0.20. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.85 earnings per share. Equities analysts anticipate that Gartner, Inc. will post 11.58 earnings per share for the current fiscal 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.