New York State Teachers Retirement System decreased its stake in Gartner, Inc. (NYSE:IT) by 0.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,560 shares of the information technology services provider’s stock after selling 700 shares during the period. New York State Teachers Retirement System owned 0.16% of Gartner worth $14,423,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in IT. Vanguard Group Inc. boosted its stake in shares of Gartner by 2.6% in the first quarter. Vanguard Group Inc. now owns 6,554,522 shares of the information technology services provider’s stock valued at $707,823,000 after buying an additional 166,250 shares during the period. Polen Capital Management LLC boosted its stake in shares of Gartner by 8.1% in the first quarter. Polen Capital Management LLC now owns 3,715,050 shares of the information technology services provider’s stock valued at $401,188,000 after buying an additional 279,959 shares during the period. State Street Corp raised its stake in shares of Gartner by 0.6% in the fourth quarter. State Street Corp now owns 2,662,379 shares of the information technology services provider’s stock valued at $269,080,000 after buying an additional 14,672 shares in the last quarter. TimesSquare Capital Management LLC raised its stake in shares of Gartner by 10.8% in the first quarter. TimesSquare Capital Management LLC now owns 2,208,950 shares of the information technology services provider’s stock valued at $238,545,000 after buying an additional 215,550 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Gartner by 1,983.4% in the first quarter. Alliancebernstein L.P. now owns 1,329,202 shares of the information technology services provider’s stock valued at $143,541,000 after buying an additional 1,265,402 shares in the last quarter. 88.01% of the stock is owned by institutional investors and hedge funds.
Gartner, Inc. (NYSE IT) traded down 0.57% during midday trading on Tuesday, reaching $122.99. The company’s stock had a trading volume of 315,391 shares. Gartner, Inc. has a 52 week low of $84.54 and a 52 week high of $124.36. The firm has a 50 day moving average price of $116.80 and a 200-day moving average price of $107.70. The firm has a market cap of $11.12 billion, a P/E ratio of 55.90 and a beta of 1.05.
Gartner (NYSE:IT) last posted its quarterly earnings results on Thursday, May 4th. The information technology services provider reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.01. The firm had revenue of $625.17 million for the quarter, compared to analyst estimates of $612.84 million. Gartner had a return on equity of 954.04% and a net margin of 7.22%. The business’s revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.67 EPS. On average, analysts forecast that Gartner, Inc. will post $3.48 earnings per share for the current fiscal year.
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IT has been the topic of several recent research reports. Cantor Fitzgerald restated a “buy” rating and set a $128.00 target price on shares of Gartner in a report on Monday, May 8th. Credit Suisse Group reaffirmed a “buy” rating and issued a $124.00 price target on shares of Gartner in a research report on Tuesday, April 11th. Royal Bank Of Canada raised their price target on Gartner from $124.00 to $130.00 and gave the company a “top pick” rating in a research report on Friday, May 5th. Morgan Stanley raised their price target on Gartner from $106.00 to $112.00 and gave the company an “equal weight” rating in a research report on Monday, May 8th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $110.00 price target on shares of Gartner in a research report on Wednesday, April 5th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Gartner presently has a consensus rating of “Buy” and an average target price of $118.36.
In other Gartner news, SVP Alwyn Dawkins sold 1,400 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $116.05, for a total value of $162,470.00. Following the sale, the senior vice president now owns 29,085 shares in the company, valued at $3,375,314.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Peter Sondergaard sold 4,172 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $111.90, for a total transaction of $466,846.80. Following the completion of the sale, the senior vice president now owns 93,765 shares in the company, valued at approximately $10,492,303.50. The disclosure for this sale can be found here. Insiders sold 49,297 shares of company stock worth $5,793,254 in the last 90 days. Company insiders own 4.40% of the company’s stock.
Gartner Company Profile
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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