Gartner, Inc. (IT) Stake Lowered by California Public Employees Retirement System

California Public Employees Retirement System decreased its stake in Gartner, Inc. (NYSE:IT) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 209,600 shares of the information technology services provider’s stock after selling 2,700 shares during the period. California Public Employees Retirement System owned approximately 0.25% of Gartner worth $22,635,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in IT. HMS Capital Management LLC acquired a new position in Gartner during the third quarter valued at $937,000. TimesSquare Capital Management LLC increased its position in Gartner by 7.6% in the third quarter. TimesSquare Capital Management LLC now owns 2,207,575 shares of the information technology services provider’s stock valued at $195,260,000 after buying an additional 155,225 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Gartner by 62.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,728 shares of the information technology services provider’s stock valued at $1,568,000 after buying an additional 6,800 shares during the period. HighTower Advisors LLC increased its position in Gartner by 79.6% in the third quarter. HighTower Advisors LLC now owns 6,672 shares of the information technology services provider’s stock valued at $590,000 after buying an additional 2,957 shares during the period. Finally, United Services Automobile Association increased its position in Gartner by 14.2% in the third quarter. United Services Automobile Association now owns 41,005 shares of the information technology services provider’s stock valued at $3,627,000 after buying an additional 5,086 shares during the period. Hedge funds and other institutional investors own 88.65% of the company’s stock.

Institutional Ownership by Quarter for Gartner (NYSE:IT)

Gartner, Inc. (NYSE IT) traded down 0.03% during midday trading on Friday, hitting $122.61. The stock had a trading volume of 160,864 shares. Gartner, Inc. has a 12-month low of $84.54 and a 12-month high of $122.93. The stock has a market cap of $11.09 billion, a P/E ratio of 55.73 and a beta of 1.05. The company’s 50-day moving average price is $116.29 and its 200 day moving average price is $107.34.

Gartner (NYSE:IT) last posted its earnings results on Thursday, May 4th. The information technology services provider reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.01. Gartner had a net margin of 7.22% and a return on equity of 954.04%. The company had revenue of $625.17 million for the quarter, compared to the consensus estimate of $612.84 million. During the same quarter last year, the business earned $0.67 earnings per share. Gartner’s quarterly revenue was up 12.2% on a year-over-year basis. On average, equities research analysts predict that Gartner, Inc. will post $3.48 earnings per share for the current fiscal year.

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IT has been the subject of several research analyst reports. Royal Bank of Canada upgraded Gartner from an “outperform” rating to a “top pick” rating and upped their price target for the stock from $117.00 to $124.00 in a research note on Monday, March 13th. Zacks Investment Research lowered Gartner from a “hold” rating to a “sell” rating in a research note on Tuesday, March 14th. Credit Suisse Group upped their price target on Gartner from $124.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. BMO Capital Markets upped their price target on Gartner from $110.00 to $128.00 and gave the stock an “outperform” rating in a research note on Monday, May 1st. Finally, Barclays PLC upped their price target on Gartner from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, April 6th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $118.36.

In other news, Director Karen E. Dykstra sold 2,500 shares of Gartner stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $120.61, for a total value of $301,525.00. Following the transaction, the director now directly owns 18,223 shares in the company, valued at $2,197,876.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eugene A. Hall sold 38,800 shares of Gartner stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $117.86, for a total value of $4,572,968.00. Following the completion of the transaction, the chief executive officer now owns 1,304,375 shares in the company, valued at $153,733,637.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,297 shares of company stock worth $5,793,254. Corporate insiders own 4.40% of the company’s stock.

About Gartner

Gartner, Inc is an information technology research and advisory company. The Company works with clients to research, analyze and interpret the business of information technology (IT), supply chain and marketing within the context of their individual roles. It operates in three segments: Research, Consulting and Events.

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