Teacher Retirement System of Texas Sells 34,441 Shares of Gartner, Inc. (NYSE:IT)

Teacher Retirement System of Texas trimmed its stake in Gartner, Inc. (NYSE:ITGet Rating) by 18.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 150,941 shares of the information technology services provider’s stock after selling 34,441 shares during the period. Teacher Retirement System of Texas owned 0.18% of Gartner worth $44,899,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Clearstead Advisors LLC purchased a new position in Gartner during the 1st quarter worth $27,000. JFS Wealth Advisors LLC grew its stake in Gartner by 588.2% during the 1st quarter. JFS Wealth Advisors LLC now owns 117 shares of the information technology services provider’s stock worth $35,000 after buying an additional 100 shares during the last quarter. Allworth Financial LP grew its stake in Gartner by 39.3% during the 1st quarter. Allworth Financial LP now owns 124 shares of the information technology services provider’s stock worth $37,000 after buying an additional 35 shares during the last quarter. Covestor Ltd purchased a new position in Gartner during the 4th quarter worth $40,000. Finally, CVA Family Office LLC grew its stake in Gartner by 25.0% during the 1st quarter. CVA Family Office LLC now owns 175 shares of the information technology services provider’s stock worth $52,000 after buying an additional 35 shares during the last quarter. 92.05% of the stock is owned by institutional investors.

Insider Activity at Gartner

In related news, EVP Robin B. Kranich sold 1,321 shares of the stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $256.95, for a total value of $339,430.95. Following the completion of the sale, the executive vice president now owns 9,717 shares of the company’s stock, valued at $2,496,783.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Robin B. Kranich sold 1,321 shares of the stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $256.95, for a total value of $339,430.95. Following the completion of the transaction, the executive vice president now directly owns 9,717 shares in the company, valued at $2,496,783.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alwyn Dawkins sold 500 shares of the stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $250.82, for a total value of $125,410.00. Following the completion of the transaction, the executive vice president now owns 45,596 shares of the company’s stock, valued at $11,436,388.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,951 shares of company stock valued at $5,188,596. 3.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Wells Fargo & Company boosted their price target on Gartner from $305.00 to $345.00 and gave the company an “overweight” rating in a research note on Wednesday. Barclays boosted their price target on Gartner from $265.00 to $315.00 and gave the company an “equal weight” rating in a research note on Thursday. Bank of America upgraded Gartner from a “neutral” rating to a “buy” rating and set a $340.00 price target on the stock in a research note on Thursday, April 14th. Robert W. Baird upped their target price on Gartner from $334.00 to $365.00 in a research note on Wednesday. Finally, Morgan Stanley upped their target price on Gartner from $274.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $321.67.

Gartner Stock Performance

NYSE IT opened at $295.44 on Friday. The stock has a market capitalization of $23.79 billion, a price-to-earnings ratio of 33.31 and a beta of 1.45. Gartner, Inc. has a twelve month low of $221.39 and a twelve month high of $368.99. The company has a current ratio of 0.62, a quick ratio of 0.70 and a debt-to-equity ratio of 20.79. The stock has a 50-day moving average of $251.55 and a 200 day moving average of $271.96.

Gartner (NYSE:ITGet Rating) last announced its earnings results on Tuesday, August 2nd. The information technology services provider reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.70. Gartner had a return on equity of 497.67% and a net margin of 14.42%. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the firm earned $2.24 earnings per share. The business’s revenue was up 18.0% compared to the same quarter last year. Sell-side analysts anticipate that Gartner, Inc. will post 9.15 EPS for the current fiscal year.

Gartner declared that its board has approved a stock repurchase program on Tuesday, May 3rd that permits the company to buyback $500.00 million in shares. This buyback authorization permits the information technology services provider to purchase up to 2.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Gartner Profile

(Get Rating)

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.

Recommended Stories

Want to see what other hedge funds are holding IT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gartner, Inc. (NYSE:ITGet Rating).

Institutional Ownership by Quarter for Gartner (NYSE:IT)

Receive News & Ratings for Gartner Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gartner and related companies with MarketBeat.com's FREE daily email newsletter.