Retirement Systems of Alabama Trims Stock Holdings in Gartner, Inc. (NYSE:IT)

Retirement Systems of Alabama reduced its holdings in shares of Gartner, Inc. (NYSE:ITFree Report) by 3.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 17,179 shares of the information technology services provider’s stock after selling 644 shares during the period. Retirement Systems of Alabama’s holdings in Gartner were worth $7,750,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of IT. Morgan Stanley grew its stake in Gartner by 4.6% in the third quarter. Morgan Stanley now owns 2,157,075 shares of the information technology services provider’s stock worth $741,193,000 after purchasing an additional 95,040 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Gartner by 30.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,565,046 shares of the information technology services provider’s stock worth $537,766,000 after acquiring an additional 364,128 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Gartner by 6.7% in the 3rd quarter. Invesco Ltd. now owns 740,957 shares of the information technology services provider’s stock valued at $254,600,000 after purchasing an additional 46,425 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Gartner by 26.3% in the 4th quarter. Mackenzie Financial Corp now owns 629,969 shares of the information technology services provider’s stock valued at $284,185,000 after purchasing an additional 131,222 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of Gartner by 0.3% in the 3rd quarter. California Public Employees Retirement System now owns 463,706 shares of the information technology services provider’s stock worth $159,334,000 after purchasing an additional 1,401 shares during the period. Institutional investors own 91.51% of the company’s stock.

Gartner Stock Performance

Shares of IT stock opened at $428.64 on Friday. The company has a market capitalization of $33.42 billion, a P/E ratio of 42.65, a P/E/G ratio of 3.44 and a beta of 1.32. Gartner, Inc. has a 12-month low of $295.43 and a 12-month high of $486.54. The business’s 50 day moving average is $462.52 and its two-hundred day moving average is $440.89. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.42.

Gartner (NYSE:ITGet Free Report) last released its quarterly 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 firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Gartner had a net margin of 13.35% and a return on equity of 141.55%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.88 EPS. Analysts expect that Gartner, Inc. will post 11.55 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. BMO Capital Markets reduced their price objective on shares of Gartner from $450.00 to $432.00 and set a “market perform” rating for the company in a research note on Thursday. Morgan Stanley raised their price objective on Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a report on Thursday. Robert W. Baird lowered their price target on shares of Gartner from $536.00 to $517.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Gartner in a research report on Tuesday, April 16th. They set a “hold” rating and a $507.00 target price for the company. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $474.50.

Check Out Our Latest Stock Analysis on Gartner

Insider Transactions at Gartner

In related news, EVP Claire Herkes sold 1,460 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $475.76, for a total transaction of $694,609.60. Following the completion of the sale, the executive vice president now directly owns 2,842 shares in the company, valued at $1,352,109.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Gartner news, Director James C. Smith sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $470.09, for a total value of $2,350,450.00. Following the transaction, the director now directly owns 618,235 shares of the company’s stock, valued at approximately $290,626,091.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Claire Herkes sold 1,460 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $475.76, for a total value of $694,609.60. Following the completion of the sale, the executive vice president now owns 2,842 shares of the company’s stock, valued at $1,352,109.92. The disclosure for this sale can be found here. Insiders sold 22,952 shares of company stock valued at $10,598,070 over the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Gartner Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Gartner (NYSE:IT)

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