Gartner, Inc. (NYSE:IT) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its stake in shares of Gartner, Inc. (NYSE:IT) by 13.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 30,450 shares of the information technology services provider’s stock after selling 4,585 shares during the period. State of Alaska Department of Revenue’s holdings in Gartner were worth $14,514,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Chapin Davis Inc. raised its position in shares of Gartner by 26.1% in the 1st quarter. Chapin Davis Inc. now owns 2,683 shares of the information technology services provider’s stock valued at $1,279,000 after purchasing an additional 555 shares in the last quarter. MorganRosel Wealth Management LLC boosted its position in Gartner by 10.8% during the 1st quarter. MorganRosel Wealth Management LLC now owns 2,330 shares of the information technology services provider’s stock worth $1,111,000 after acquiring an additional 228 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Gartner by 6.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 26,550 shares of the information technology services provider’s stock worth $12,656,000 after acquiring an additional 1,582 shares during the period. Cardinal Capital Management boosted its position in Gartner by 8.3% during the 1st quarter. Cardinal Capital Management now owns 3,497 shares of the information technology services provider’s stock worth $1,667,000 after acquiring an additional 267 shares during the period. Finally, Signet Financial Management LLC lifted its holdings in shares of Gartner by 1.7% in the first quarter. Signet Financial Management LLC now owns 7,481 shares of the information technology services provider’s stock valued at $3,566,000 after buying an additional 126 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Gartner Stock Performance

Shares of Gartner stock opened at $448.39 on Thursday. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.91 and a quick ratio of 0.91. The stock’s 50-day moving average is $438.90 and its 200-day moving average is $451.98. The firm has a market cap of $34.81 billion, a price-to-earnings ratio of 44.62, a price-to-earnings-growth ratio of 3.91 and a beta of 1.33. Gartner, Inc. has a one year low of $323.61 and a one year high of $486.54.

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

Insider Transactions at Gartner

In related news, EVP Yvonne Genovese sold 439 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $456.13, for a total value of $200,241.07. Following the completion of the sale, the executive vice president now directly owns 1,959 shares in the company, valued at $893,558.67. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director James C. Smith sold 10,000 shares of the stock in a transaction on Monday, May 20th. The stock was 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 in the company, valued at $276,929,568.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Yvonne Genovese sold 439 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $456.13, for a total value of $200,241.07. Following the sale, the executive vice president now owns 1,959 shares of the company’s stock, valued at $893,558.67. 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 quarter. Company insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IT. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research note on Saturday, June 29th. BMO Capital Markets decreased their target price on Gartner from $450.00 to $432.00 and set a “market perform” rating for the company in a research note on Thursday, May 2nd. Robert W. Baird decreased their target price on Gartner from $536.00 to $517.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. UBS Group reduced their price objective on Gartner from $550.00 to $510.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft started coverage on Gartner in a research report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $474.50.

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.