Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $5.45 Million Stock Holdings in Gartner, Inc. (NYSE:IT)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Gartner, Inc. (NYSE:ITFree Report) by 15.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,849 shares of the information technology services provider’s stock after purchasing an additional 2,064 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Gartner were worth $5,446,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Fox Run Management L.L.C. bought a new stake in Gartner in the 3rd quarter valued at $230,000. BNP Paribas Arbitrage SNC raised its holdings in shares of Gartner by 10.1% during the 2nd quarter. BNP Paribas Arbitrage SNC now owns 141,851 shares of the information technology services provider’s stock worth $49,692,000 after buying an additional 12,972 shares in the last quarter. TIAA Trust National Association acquired a new position in Gartner in the 3rd quarter worth about $242,000. Renaissance Technologies LLC increased its holdings in Gartner by 43.8% in the 2nd quarter. Renaissance Technologies LLC now owns 128,709 shares of the information technology services provider’s stock worth $45,088,000 after purchasing an additional 39,200 shares in the last quarter. Finally, Barclays PLC increased its holdings in Gartner by 23.3% in the 3rd quarter. Barclays PLC now owns 147,598 shares of the information technology services provider’s stock worth $50,717,000 after purchasing an additional 27,848 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Activity at Gartner

In related news, Director Richard J. Bressler sold 6,413 shares of Gartner stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $418.97, for a total transaction of $2,686,854.61. Following the completion of the sale, the director now owns 11,871 shares of the company’s stock, valued at $4,973,592.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Gartner news, Director Richard J. Bressler sold 6,413 shares of Gartner stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $418.97, for a total transaction of $2,686,854.61. Following the completion of the sale, the director now owns 11,871 shares of the company’s stock, valued at $4,973,592.87. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Akhil Jain sold 250 shares of Gartner stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $420.47, for a total value of $105,117.50. Following the sale, the executive vice president now directly owns 3,061 shares of the company’s stock, valued at approximately $1,287,058.67. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,369 shares of company stock valued at $6,324,321. Company insiders own 3.90% of the company’s stock.

Gartner Price Performance

Gartner stock opened at $463.52 on Monday. Gartner, Inc. has a one year low of $292.60 and a one year high of $471.76. The business has a fifty day moving average price of $451.75 and a 200-day moving average price of $393.66. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $36.13 billion, a P/E ratio of 41.91, a PEG ratio of 4.21 and a beta of 1.30.

Gartner (NYSE:ITGet Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The information technology services provider reported $3.04 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.21. Gartner had a return on equity of 166.35% and a net margin of 14.94%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the company earned $3.70 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, equities research analysts forecast that Gartner, Inc. will post 11.42 EPS for the current year.

Gartner declared that its board has authorized a share repurchase program on Friday, November 3rd that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the information technology services provider to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

IT has been the topic of several research analyst reports. Morgan Stanley upped their target price on Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a report on Saturday. BMO Capital Markets raised their target price on Gartner from $444.00 to $450.00 and gave the company a “market perform” rating in a report on Thursday. UBS Group raised their target price on Gartner from $412.00 to $490.00 and gave the company a “neutral” rating in a report on Tuesday, February 6th. Finally, Wells Fargo & Company raised their target price on Gartner from $380.00 to $435.00 and gave the company an “overweight” rating in a report on Friday, December 15th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Gartner has a consensus rating of “Hold” and an average target price of $455.25.

Check Out Our Latest Analysis on IT

About Gartner

(Free Report)

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.

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Institutional Ownership by Quarter for Gartner (NYSE:IT)

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