Gartner, Inc. (NYSE:IT) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lessened its stake in Gartner, Inc. (NYSE:IT) by 2.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,235 shares of the information technology services provider’s stock after selling 159 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Gartner were worth $2,800,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of IT. Tower Research Capital LLC TRC raised its holdings in Gartner by 14.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,229 shares of the information technology services provider’s stock worth $5,066,000 after purchasing an additional 1,381 shares during the period. Cetera Advisor Networks LLC raised its holdings in Gartner by 118.9% in the 4th quarter. Cetera Advisor Networks LLC now owns 11,977 shares of the information technology services provider’s stock worth $5,403,000 after purchasing an additional 6,506 shares during the period. Cibc World Markets Corp raised its holdings in Gartner by 131.1% in the 4th quarter. Cibc World Markets Corp now owns 10,054 shares of the information technology services provider’s stock worth $4,535,000 after purchasing an additional 5,703 shares during the period. Envestnet Asset Management Inc. raised its holdings in Gartner by 1.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 327,440 shares of the information technology services provider’s stock worth $147,711,000 after purchasing an additional 3,867 shares during the period. Finally, Vinva Investment Management Ltd raised its holdings in Gartner by 27.4% in the 4th quarter. Vinva Investment Management Ltd now owns 2,742 shares of the information technology services provider’s stock worth $1,240,000 after purchasing an additional 590 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Price Performance

IT stock opened at $508.47 on Friday. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.90. The business has a 50 day simple moving average of $490.74 and a 200-day simple moving average of $464.39. The firm has a market capitalization of $39.47 billion, a PE ratio of 50.59, a price-to-earnings-growth ratio of 3.21 and a beta of 1.32. Gartner, Inc. has a 1 year low of $323.61 and a 1 year high of $521.64.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.20. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.58 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.85 earnings per share. Equities research analysts anticipate that Gartner, Inc. will post 11.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Eugene A. Hall sold 12,082 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was 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 directly 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 this hyperlink. In other Gartner news, CEO Eugene A. Hall sold 12,082 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $504.84, for a total transaction of $6,099,476.88. Following the transaction, the chief executive officer now directly owns 1,143,389 shares in the company, valued at $577,228,502.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eugene A. Hall sold 34,060 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $505.40, for a total value of $17,213,924.00. Following the transaction, the chief executive officer now owns 1,143,401 shares in the company, valued at $577,874,865.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 65,164 shares of company stock worth $32,601,014. Company insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Robert W. Baird upped their price target on Gartner from $517.00 to $565.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. UBS Group boosted their price objective on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Morgan Stanley boosted their price objective on Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Wells Fargo & Company upgraded Gartner to a “strong sell” rating in a research note on Tuesday, August 13th. Finally, BMO Capital Markets boosted their price objective 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 investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.