Maryland State Retirement & Pension System Lowers Holdings in Gartner, Inc. (NYSE:IT)

Maryland State Retirement & Pension System lessened its stake in Gartner, Inc. (NYSE:IT) by 6.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,024 shares of the information technology services provider’s stock after selling 282 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Gartner were worth $1,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Xponance Inc. raised its position in Gartner by 2.5% in the 4th quarter. Xponance Inc. now owns 17,750 shares of the information technology services provider’s stock worth $8,599,000 after buying an additional 432 shares during the last quarter. Intech Investment Management LLC grew its stake in shares of Gartner by 121.2% during the 4th quarter. Intech Investment Management LLC now owns 8,362 shares of the information technology services provider’s stock valued at $4,051,000 after purchasing an additional 4,582 shares during the period. Generali Asset Management SPA SGR bought a new position in shares of Gartner during the 4th quarter valued at approximately $1,595,000. Primecap Management Co. CA grew its stake in shares of Gartner by 0.9% during the 4th quarter. Primecap Management Co. CA now owns 111,800 shares of the information technology services provider’s stock valued at $54,164,000 after acquiring an additional 1,000 shares during the period. Finally, Signaturefd LLC grew its stake in shares of Gartner by 5.9% during the 4th quarter. Signaturefd LLC now owns 1,464 shares of the information technology services provider’s stock valued at $709,000 after acquiring an additional 82 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IT. The Goldman Sachs Group restated a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. Robert W. Baird dropped their price target on Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research note on Friday. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Wells Fargo & Company dropped their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Gartner currently has an average rating of “Hold” and a consensus price target of $546.63.

Gartner Stock Up 2.7 %

Shares of IT opened at $430.03 on Friday. The stock has a market capitalization of $33.03 billion, a price-to-earnings ratio of 26.83, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29. Gartner, Inc. has a 1 year low of $409.50 and a 1 year high of $584.01. The business’s 50 day simple moving average is $502.37 and its 200-day simple moving average is $507.66. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, beating the consensus estimate of $3.22 by $2.23. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the prior year, the firm posted $3.04 EPS. Gartner’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, equities analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insider Activity at Gartner

In other Gartner news, Director Eileen Serra sold 1,200 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $489.77, for a total value of $587,724.00. Following the transaction, the director now owns 1,627 shares of the company’s stock, valued at $796,855.79. This represents a 42.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP John J. Rinello sold 90 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the completion of the transaction, the senior vice president now directly owns 3,259 shares in the company, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by insiders.

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.