Kentucky Retirement Systems Sells 149 Shares of Gartner, Inc. (NYSE:IT)

Kentucky Retirement Systems lowered its position in shares of Gartner, Inc. (NYSE:ITFree Report) by 2.8% during the first quarter, HoldingsChannel reports. The fund owned 5,146 shares of the information technology services provider’s stock after selling 149 shares during the quarter. Kentucky Retirement Systems’ holdings in Gartner were worth $2,160,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Cary Street Partners Financial LLC bought a new stake in Gartner during the 4th quarter worth approximately $27,000. Itau Unibanco Holding S.A. grew its stake in shares of Gartner by 453.3% in the fourth quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider’s stock worth $40,000 after purchasing an additional 68 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Gartner in the fourth quarter worth $49,000. Promus Capital LLC bought a new stake in shares of Gartner in the fourth quarter worth $57,000. Finally, Hurley Capital LLC bought a new stake in shares of Gartner in the fourth quarter worth $73,000. Institutional investors own 91.51% of the company’s stock.

Gartner Price Performance

Gartner stock opened at $398.32 on Tuesday. The stock has a market capitalization of $30.66 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 2.55 and a beta of 1.23. Gartner, Inc. has a 52-week low of $366.05 and a 52-week high of $584.01. The stock’s 50 day moving average price is $423.57 and its two-hundred day moving average price is $461.25. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.09 and a current ratio of 1.09.

Gartner (NYSE:ITGet Free Report) last issued its earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.26. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Gartner had a net margin of 19.82% and a return on equity of 96.70%. Gartner’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.93 earnings per share. On average, equities analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current year.

Insider Transactions at Gartner

In other news, EVP William James Wartinbee III sold 538 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $449.09, for a total value of $241,610.42. Following the transaction, the executive vice president now owns 7,965 shares in the company, valued at $3,577,001.85. This trade represents a 6.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John J. Rinello sold 109 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $436.35, for a total value of $47,562.15. Following the completion of the transaction, the senior vice president now owns 3,280 shares in the company, valued at $1,431,228. This represents a 3.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,426 shares of company stock valued at $2,430,327 in the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on IT. Barclays reduced their price target on Gartner from $510.00 to $475.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. UBS Group reduced their target price on Gartner from $525.00 to $500.00 and set a “buy” rating on the stock in a report on Wednesday, June 18th. Wall Street Zen lowered shares of Gartner from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. The Goldman Sachs Group reduced their price objective on shares of Gartner from $622.00 to $535.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company cut their price target on shares of Gartner from $401.00 to $400.00 and set an “underweight” rating on the stock in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $515.89.

Check Out Our Latest Report on IT

Gartner Company Profile

(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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