National Pension Service Lowers Stake in Gartner, Inc. (NYSE:IT)

National Pension Service lowered its stake in shares of Gartner, Inc. (NYSE:IT – Get Rating) by 4.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 129,502 shares of the information technology services provider’s stock after selling 5,692 shares during the period. National Pension Service’s holdings in Gartner were worth $36,088,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in IT. Neo Ivy Capital Management purchased a new position in shares of Gartner during the 3rd quarter worth approximately $26,000. Altshuler Shaham Ltd purchased a new position in shares of Gartner during the 3rd quarter worth approximately $31,000. Vienna Asset Management LLC purchased a new position in shares of Gartner during the 3rd quarter worth approximately $33,000. SeaCrest Wealth Management LLC purchased a new position in shares of Gartner during the 2nd quarter worth approximately $37,000. Finally, Private Trust Co. NA purchased a new position in shares of Gartner during the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 91.86% of the company’s stock.

Gartner Price Performance

Gartner stock opened at $305.95 on Friday. The stock has a market cap of $24.19 billion, a P/E ratio of 30.63, a price-to-earnings-growth ratio of 5.08 and a beta of 1.28. The company has a fifty day simple moving average of $334.65 and a 200-day simple moving average of $321.84. Gartner, Inc. has a 12-month low of $221.39 and a 12-month high of $358.25. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 10.77.

Gartner (NYSE:IT – Get Rating) last released its quarterly earnings data on Tuesday, February 7th. The information technology services provider reported $3.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $1.13. Gartner had a net margin of 14.75% and a return on equity of 2,645.96%. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the previous year, the company earned $2.99 EPS. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. Equities analysts expect that Gartner, Inc. will post 9.49 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wells Fargo & Company raised their price target on shares of Gartner from $370.00 to $387.00 and gave the company an “overweight” rating in a research report on Wednesday, February 8th. Morgan Stanley raised their price target on shares of Gartner from $358.00 to $366.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 8th. BMO Capital Markets raised their price target on shares of Gartner from $356.00 to $357.00 and gave the company a “market perform” rating in a research report on Thursday, February 9th. Barclays raised their price target on shares of Gartner from $330.00 to $350.00 and gave the company an “equal weight” rating in a research report on Friday, December 2nd. Finally, StockNews.com assumed coverage on shares of Gartner in a research report on Thursday. They issued a “buy” rating for the company. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $359.00.

Insider Buying and Selling

In related news, CFO Craig Safian sold 4,510 shares of Gartner stock in a transaction on Monday, March 6th. The shares were sold at an average price of $341.53, for a total transaction of $1,540,300.30. Following the sale, the chief financial officer now directly owns 64,282 shares in the company, valued at approximately $21,954,231.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Gartner news, CFO Craig Safian sold 4,510 shares of Gartner stock in a transaction on Monday, March 6th. The shares were sold at an average price of $341.53, for a total value of $1,540,300.30. Following the transaction, the chief financial officer now directly owns 64,282 shares in the company, valued at $21,954,231.46. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Valentin Sribar sold 348 shares of Gartner stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $322.61, for a total transaction of $112,268.28. Following the completion of the transaction, the executive vice president now owns 12,189 shares in the company, valued at $3,932,293.29. The disclosure for this sale can be found here. Insiders have sold 43,031 shares of company stock worth $15,047,172 in the last ninety days. 3.70% of the stock is owned by corporate insiders.

About Gartner

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Gartner, Inc is a research and advisory company, which equips business leaders with insights, advice, and tools that help build organizations. It operates through the following segments: Research, Consulting, and Conferences. The Research segment provides executives with objective insights and advice through reports, briefings, proprietary tools, access to the firm’s research experts, peer networking services, and membership programs.