Louisiana State Employees Retirement System Trims Stock Position in Gartner, Inc. (NYSE:IT)

Louisiana State Employees Retirement System cut its holdings in shares of Gartner, Inc. (NYSE:IT) by 2.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,300 shares of the information technology services provider’s stock after selling 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Gartner were worth $2,179,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Eastern Bank purchased a new position in Gartner during the third quarter worth about $26,000. Central Pacific Bank Trust Division acquired a new stake in Gartner during the first quarter worth about $36,000. Crewe Advisors LLC increased its stake in Gartner by 223.3% during the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock worth $44,000 after acquiring an additional 67 shares during the last quarter. J.Safra Asset Management Corp increased its stake in Gartner by 58.7% during the first quarter. J.Safra Asset Management Corp now owns 146 shares of the information technology services provider’s stock worth $70,000 after acquiring an additional 54 shares during the last quarter. Finally, Asset Dedication LLC increased its stake in Gartner by 46.5% during the third quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock worth $75,000 after acquiring an additional 47 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Gartner Price Performance

IT stock opened at $518.25 on Wednesday. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90. Gartner, Inc. has a 1 year low of $324.98 and a 1 year high of $535.29. The firm has a market cap of $40.23 billion, a P/E ratio of 51.57, a price-to-earnings-growth ratio of 3.25 and a beta of 1.32. The stock has a 50-day simple moving average of $505.95 and a 200-day simple moving average of $470.26.

Gartner (NYSE:IT) last issued 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. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the firm earned $2.85 EPS. Gartner’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities analysts predict that Gartner, Inc. will post 11.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Gartner

In other Gartner news, EVP Akhil Jain sold 400 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $485.00, for a total transaction of $194,000.00. Following the completion of the sale, the executive vice president now owns 4,839 shares in the company, valued at $2,346,915. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Gartner news, EVP Yvonne Genovese sold 443 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $483.62, for a total transaction of $214,243.66. Following the completion of the sale, the executive vice president now owns 1,959 shares in the company, valued at $947,411.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Akhil Jain sold 400 shares of the firm’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 sale, the executive vice president now owns 4,839 shares of the company’s stock, valued at approximately $2,346,915. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,582 shares of company stock worth $25,743,407 in the last 90 days. 3.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Robert W. Baird upped their price target on Gartner from $517.00 to $565.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. 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. Wells Fargo & Company upped their price target on Gartner from $435.00 to $460.00 and gave the stock an “underweight” rating in a research note on Monday, October 14th. Finally, Morgan Stanley increased their target price on Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Gartner presently has an average rating of “Hold” and a consensus price target of $532.86.

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.