New York State Common Retirement Fund Cuts Stock Position in Gartner, Inc. (NYSE:IT)

New York State Common Retirement Fund lessened its holdings in Gartner, Inc. (NYSE:IT) by 8.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 187,261 shares of the information technology services provider’s stock after selling 18,001 shares during the period. New York State Common Retirement Fund owned about 0.24% of Gartner worth $84,475,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in IT. Ronald Blue Trust Inc. raised its stake in shares of Gartner by 140.2% in the 3rd quarter. Ronald Blue Trust Inc. now owns 257 shares of the information technology services provider’s stock valued at $90,000 after acquiring an additional 150 shares during the period. Global Retirement Partners LLC increased its stake in Gartner by 204.4% during the 3rd quarter. Global Retirement Partners LLC now owns 137 shares of the information technology services provider’s stock worth $48,000 after buying an additional 92 shares during the period. HB Wealth Management LLC increased its stake in Gartner by 29.1% during the 3rd quarter. HB Wealth Management LLC now owns 1,046 shares of the information technology services provider’s stock worth $359,000 after buying an additional 236 shares during the period. RFG Advisory LLC increased its stake in Gartner by 23.5% during the 3rd quarter. RFG Advisory LLC now owns 1,158 shares of the information technology services provider’s stock worth $398,000 after buying an additional 220 shares during the period. Finally, Flagship Harbor Advisors LLC purchased a new stake in Gartner during the 3rd quarter worth $212,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Transactions at Gartner

In other news, EVP Akhil Jain sold 250 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $464.55, for a total value of $116,137.50. Following the completion of the sale, the executive vice president now directly owns 5,239 shares of the company’s stock, valued at approximately $2,433,777.45. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Akhil Jain sold 250 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $464.55, for a total value of $116,137.50. Following the sale, the executive vice president now directly owns 5,239 shares in the company, valued at approximately $2,433,777.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James C. Smith sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $459.68, for a total transaction of $4,596,800.00. Following the completion of the sale, the director now owns 623,235 shares in the company, valued at $286,488,664.80. The disclosure for this sale can be found here. In the last three months, insiders sold 22,952 shares of company stock valued at $10,598,070. Company insiders own 3.60% of the company’s stock.

Gartner Stock Performance

Gartner stock traded up $7.47 during midday trading on Tuesday, reaching $450.53. 77,538 shares of the stock traded hands, compared to its average volume of 386,728. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.60. The firm has a fifty day moving average price of $464.91 and a two-hundred day moving average price of $436.38. The firm has a market cap of $35.13 billion, a price-to-earnings ratio of 40.06, a PEG ratio of 4.02 and a beta of 1.29. Gartner, Inc. has a fifty-two week low of $292.60 and a fifty-two week high of $486.54.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.21. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. Gartner had a net margin of 14.94% and a return on equity of 156.35%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $3.70 EPS. On average, equities research analysts forecast that Gartner, Inc. will post 11.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IT. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. BMO Capital Markets lifted their price target on shares of Gartner from $444.00 to $450.00 and gave the stock a “market perform” rating in a research note on Thursday, February 8th. UBS Group raised shares of Gartner from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $484.00 to $550.00 in a research note on Thursday, April 11th. Morgan Stanley boosted their target price on shares of Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Gartner in a research report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 target price for the company. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $477.60.

About Gartner

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.