Strs Ohio Takes $1.31 Million Position in Gartner, Inc. (NYSE:IT)

Strs Ohio purchased a new stake in shares of Gartner, Inc. (NYSE:IT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,896 shares of the information technology services provider’s stock, valued at approximately $1,306,000.

Several other hedge funds also recently modified their holdings of the company. Grove Bank & Trust grew its holdings in shares of Gartner by 7.5% during the fourth quarter. Grove Bank & Trust now owns 2,950 shares of the information technology services provider’s stock valued at $1,331,000 after buying an additional 205 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Gartner during the fourth quarter valued at $791,000. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Gartner by 1.2% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 191,485 shares of the information technology services provider’s stock valued at $86,381,000 after buying an additional 2,283 shares in the last quarter. Crown Oak Advisors LLC purchased a new position in shares of Gartner during the fourth quarter valued at $9,560,000. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Gartner during the fourth quarter valued at $2,120,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Gartner Price Performance

Shares of NYSE:IT opened at $443.06 on Tuesday. Gartner, Inc. has a fifty-two week low of $292.60 and a fifty-two week high of $486.54. The business has a 50-day moving average of $464.91 and a two-hundred day moving average of $436.38. The stock has a market capitalization of $34.55 billion, a P/E ratio of 40.06, a P/E/G ratio of 4.02 and a beta of 1.29. The company has a debt-to-equity ratio of 3.60, a current ratio of 0.91 and a quick ratio of 0.91.

Gartner (NYSE:IT) last announced 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. Gartner had a return on equity of 156.35% and a net margin of 14.94%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the previous year, the firm earned $3.70 earnings per share. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, equities research analysts predict that Gartner, Inc. will post 11.36 EPS for the current fiscal year.

Insider Transactions at Gartner

In related news, EVP Valentin Sribar sold 682 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $453.00, for a total transaction of $308,946.00. Following the transaction, the executive vice president now directly owns 12,269 shares in the company, valued at $5,557,857. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Claire Herkes sold 1,460 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $475.76, for a total value of $694,609.60. Following the sale, the executive vice president now directly owns 2,842 shares in the company, valued at approximately $1,352,109.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Valentin Sribar sold 682 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $453.00, for a total value of $308,946.00. Following the completion of the sale, the executive vice president now owns 12,269 shares in the company, valued at $5,557,857. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,952 shares of company stock worth $10,598,070. Company insiders own 3.60% of the company’s stock.

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.