Gartner, Inc. (NYSE:IT) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its stake in Gartner, Inc. (NYSE:IT) by 7.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,472 shares of the information technology services provider’s stock after selling 5,767 shares during the quarter. New York State Teachers Retirement System owned approximately 0.10% of Gartner worth $33,891,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. TCW Group Inc. lifted its stake in shares of 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 buying an additional 7,639 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Gartner by 11.4% in the first quarter. Russell Investments Group Ltd. now owns 25,063 shares of the information technology services provider’s stock worth $11,987,000 after buying an additional 2,560 shares in the last quarter. Icon Wealth Advisors LLC purchased a new position in shares of Gartner in the fourth quarter worth about $2,093,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Gartner by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 461,813 shares of the information technology services provider’s stock worth $208,328,000 after buying an additional 10,828 shares in the last quarter. Finally, Madison Asset Management LLC raised its stake in Gartner by 2.8% during the fourth quarter. Madison Asset Management LLC now owns 344,657 shares of the information technology services provider’s stock worth $155,478,000 after purchasing an additional 9,538 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Activity at Gartner

In related news, CEO Eugene A. Hall sold 12,082 shares of Gartner stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $504.84, for a total value of $6,099,476.88. Following the completion of the transaction, the chief executive officer now owns 1,143,389 shares in the company, valued at $577,228,502.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Gartner news, Director James C. Smith sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $439.29, for a total value of $4,392,900.00. Following the sale, the director now directly owns 599,074 shares of the company’s stock, valued at approximately $263,167,217.46. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Eugene A. Hall sold 12,082 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $504.84, for a total transaction of $6,099,476.88. Following the completion of the sale, the chief executive officer now directly owns 1,143,389 shares in the company, valued at $577,228,502.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,680 shares of company stock worth $15,581,792. Corporate insiders own 3.60% of the company’s stock.

Gartner Price Performance

Shares of IT opened at $480.86 on Friday. Gartner, Inc. has a 1-year low of $323.61 and a 1-year high of $509.15. The stock has a market cap of $37.33 billion, a PE ratio of 47.85, a P/E/G ratio of 3.80 and a beta of 1.33. The firm has a 50-day simple moving average of $464.03 and a two-hundred day simple moving average of $456.67. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.91.

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

Wall Street Analysts Forecast Growth

IT has been the topic of a number of analyst reports. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Morgan Stanley lifted their target price on shares of Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Robert W. Baird lifted their target price on shares of Gartner from $517.00 to $565.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Wells Fargo & Company raised shares of Gartner to a “strong sell” rating in a research note on Tuesday, August 13th. Finally, Bank of America lifted their target price on shares of Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $521.00.

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.