State Board of Administration of Florida Retirement System decreased its holdings in Gartner Inc (NYSE:IT) by 2.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 124,220 shares of the information technology services provider’s stock after selling 3,043 shares during the period. State Board of Administration of Florida Retirement System owned about 0.14% of Gartner worth $19,689,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in IT. Bank of America Corp DE raised its stake in Gartner by 175.0% in the second quarter. Bank of America Corp DE now owns 1,370,511 shares of the information technology services provider’s stock valued at $182,142,000 after buying an additional 872,182 shares during the period. Principal Financial Group Inc. increased its stake in shares of Gartner by 22.6% during the first quarter. Principal Financial Group Inc. now owns 3,589,077 shares of the information technology services provider’s stock worth $422,148,000 after purchasing an additional 662,107 shares during the period. Janus Henderson Group PLC increased its stake in shares of Gartner by 11.6% during the second quarter. Janus Henderson Group PLC now owns 5,238,694 shares of the information technology services provider’s stock worth $696,223,000 after purchasing an additional 543,074 shares during the period. First Trust Advisors LP increased its stake in shares of Gartner by 223.9% during the third quarter. First Trust Advisors LP now owns 231,500 shares of the information technology services provider’s stock worth $36,693,000 after purchasing an additional 160,018 shares during the period. Finally, Polen Capital Management LLC increased its stake in shares of Gartner by 1.7% during the second quarter. Polen Capital Management LLC now owns 5,487,422 shares of the information technology services provider’s stock worth $729,278,000 after purchasing an additional 93,895 shares during the period.
A number of brokerages have recently weighed in on IT. TheStreet lowered Gartner from a “b” rating to a “c+” rating in a research note on Thursday, November 1st. Morgan Stanley increased their target price on Gartner from $133.00 to $140.00 and gave the stock a “$140.13” rating in a research note on Wednesday, July 18th. BMO Capital Markets lowered their target price on Gartner from $174.00 to $155.00 and set an “outperform” rating on the stock in a research note on Monday, November 5th. Robert W. Baird lowered their target price on Gartner from $170.00 to $162.00 and set an “outperform” rating on the stock in a research note on Friday, November 2nd. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $116.00 target price on shares of Gartner in a research note on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $147.10.
In related news, EVP Mr Thomas Christopher sold 1,400 shares of the stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $149.81, for a total transaction of $209,734.00. Following the sale, the executive vice president now owns 18,738 shares of the company’s stock, valued at $2,807,139.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Alwyn Dawkins sold 6,545 shares of the stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $146.89, for a total value of $961,395.05. Following the sale, the executive vice president now directly owns 32,259 shares in the company, valued at approximately $4,738,524.51. The disclosure for this sale can be found here. Insiders have sold 12,311 shares of company stock worth $1,804,424 in the last three months. 4.30% of the stock is currently owned by company insiders.
Shares of NYSE IT opened at $147.64 on Friday. The company has a market cap of $13.22 billion, a PE ratio of 38.61, a PEG ratio of 2.62 and a beta of 1.23. Gartner Inc has a 1-year low of $111.57 and a 1-year high of $161.21. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.66 and a current ratio of 0.66.
Gartner (NYSE:IT) last issued its quarterly earnings results on Thursday, November 1st. The information technology services provider reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.23. The business had revenue of $922.00 million for the quarter, compared to the consensus estimate of $919.96 million. Gartner had a return on equity of 36.22% and a net margin of 3.74%. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.65 earnings per share. Equities research analysts predict that Gartner Inc will post 3.67 earnings per share for the current year.
Gartner Company Profile
Gartner, Inc operates as a research and advisory company. It operates through four segments: Research, Consulting, Events, and Talent Assessment & Other. The Research segment offers objective insights and advice on the priorities of various leaders in a range of functional areas of the enterprise through research and other reports, briefings, proprietary tools, access to our analysts, peer networking services, and membership programs that enable clients to make better decisions; and practice and talent management research insights in various business functions, such as human resources, sales, legal, and finance.
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