New York State Teachers Retirement System Sells 2,125 Shares of Gartner, Inc. (NYSE:IT)

New York State Teachers Retirement System trimmed its position in Gartner, Inc. (NYSE:IT) by 2.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,545 shares of the information technology services provider’s stock after selling 2,125 shares during the period. New York State Teachers Retirement System’s holdings in Gartner were worth $34,177,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Baron Wealth Management LLC increased its position in Gartner by 4.1% in the 3rd quarter. Baron Wealth Management LLC now owns 481 shares of the information technology services provider’s stock valued at $244,000 after buying an additional 19 shares in the last quarter. Fortitude Family Office LLC increased its holdings in Gartner by 23.8% during the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after purchasing an additional 20 shares in the last quarter. Gilbert & Cook Inc. increased its holdings in Gartner by 1.5% during the 4th quarter. Gilbert & Cook Inc. now owns 1,364 shares of the information technology services provider’s stock worth $661,000 after purchasing an additional 20 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in Gartner by 2.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 917 shares of the information technology services provider’s stock worth $444,000 after purchasing an additional 22 shares in the last quarter. Finally, Trust Point Inc. increased its holdings in Gartner by 3.2% during the 3rd quarter. Trust Point Inc. now owns 746 shares of the information technology services provider’s stock worth $378,000 after purchasing an additional 23 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Robert W. Baird boosted their price objective on Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Morgan Stanley decreased their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Wells Fargo & Company cut their target price on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. Finally, StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Gartner presently has an average rating of “Hold” and a consensus target price of $552.63.

Insiders Place Their Bets

In other Gartner news, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $530.51, for a total value of $47,745.90. Following the sale, the senior vice president now owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Claire Herkes sold 411 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $521.24, for a total value of $214,229.64. Following the transaction, the executive vice president now directly owns 1,494 shares of the company’s stock, valued at $778,732.56. The trade was a 21.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,690 shares of company stock worth $2,981,025 over the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Gartner Price Performance

Gartner stock opened at $515.34 on Friday. Gartner, Inc. has a 12 month low of $411.15 and a 12 month high of $584.01. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. The business’s 50 day simple moving average is $510.09 and its 200 day simple moving average is $508.39. The company has a market cap of $39.75 billion, a price-to-earnings ratio of 32.15, a PEG ratio of 3.50 and a beta of 1.34.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, beating the consensus estimate of $3.22 by $2.23. Gartner had a return on equity of 136.32% and a net margin of 20.00%. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the prior year, the business earned $3.04 earnings per share. Gartner’s revenue for the quarter was up 8.1% on a year-over-year basis. Sell-side analysts forecast that Gartner, Inc. will post 12.5 EPS for the current year.

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.