State of New Jersey Common Pension Fund D Has $12.50 Million Position in Gartner, Inc. (NYSE:IT)

State of New Jersey Common Pension Fund D cut its position in Gartner, Inc. (NYSE:IT) by 37.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,839 shares of the information technology services provider’s stock after selling 16,615 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Gartner were worth $12,501,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Gartner by 0.7% in the first quarter. Vanguard Group Inc. now owns 8,974,760 shares of the information technology services provider’s stock worth $4,277,999,000 after purchasing an additional 60,786 shares during the period. Principal Financial Group Inc. increased its position in shares of Gartner by 22.0% during the second quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock worth $852,014,000 after acquiring an additional 341,911 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Gartner by 12.0% during the fourth quarter. Wellington Management Group LLP now owns 1,852,820 shares of the information technology services provider’s stock worth $835,826,000 after acquiring an additional 198,274 shares in the last quarter. Brown Advisory Inc. increased its position in shares of Gartner by 4.6% during the fourth quarter. Brown Advisory Inc. now owns 1,208,914 shares of the information technology services provider’s stock worth $545,353,000 after acquiring an additional 52,826 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Gartner by 18.5% during the fourth quarter. Franklin Resources Inc. now owns 920,716 shares of the information technology services provider’s stock worth $415,344,000 after acquiring an additional 143,556 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director James C. Smith sold 2,128 shares of Gartner stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $500.15, for a total transaction of $1,064,319.20. Following the completion of the transaction, the director now owns 572,090 shares in the company, valued at $286,130,813.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director James C. Smith sold 2,128 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $500.15, for a total transaction of $1,064,319.20. Following the completion of the sale, the director now owns 572,090 shares in the company, valued at $286,130,813.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Alwyn Dawkins sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $505.49, for a total value of $505,490.00. Following the sale, the executive vice president now owns 56,650 shares of the company’s stock, valued at approximately $28,636,008.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,626 shares of company stock worth $15,145,217. Company insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on IT shares. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. UBS Group increased their price objective on shares of Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Robert W. Baird lifted their price target on shares of Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. BMO Capital Markets increased their price objective on shares of Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Finally, Bank of America raised their price objective on Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Gartner has a consensus rating of “Hold” and a consensus price target of $521.00.

Gartner Trading Up 1.0 %

Gartner stock opened at $510.56 on Friday. Gartner, Inc. has a 52 week low of $323.61 and a 52 week high of $510.98. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $39.34 billion, a P/E ratio of 50.80, a PEG ratio of 3.89 and a beta of 1.32. The stock has a 50-day simple moving average of $475.84 and a 200 day simple moving average of $460.31.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.20. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter last year, the company posted $2.85 earnings per share. Gartner’s quarterly revenue was up 6.1% on a year-over-year basis. Analysts expect that Gartner, Inc. will post 11.59 earnings per share for the current year.

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.