State of Alaska Department of Revenue Sells 7,260 Shares of Gartner, Inc. (NYSE:IT)

by · The Markets Daily

State of Alaska Department of Revenue lowered its stake in Gartner, Inc. (NYSE:IT – Free Report) by 24.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 22,730 shares of the information technology services provider’s stock after selling 7,260 shares during the quarter. State of Alaska Department of Revenue’s holdings in Gartner were worth $11,517,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IT. Russell Investments Group Ltd. increased its stake in shares of Gartner by 11.4% during the first quarter. Russell Investments Group Ltd. now owns 25,063 shares of the information technology services provider’s stock valued at $11,987,000 after buying an additional 2,560 shares during the period. Transcend Capital Advisors LLC purchased a new position in shares of Gartner during the second quarter valued at approximately $512,000. Tidal Investments LLC increased its stake in shares of Gartner by 24.4% during the first quarter. Tidal Investments LLC now owns 9,890 shares of the information technology services provider’s stock valued at $4,717,000 after buying an additional 1,940 shares during the period. Findlay Park Partners LLP increased its stake in shares of Gartner by 5.7% during the first quarter. Findlay Park Partners LLP now owns 678,121 shares of the information technology services provider’s stock valued at $323,240,000 after buying an additional 36,400 shares during the period. Finally, Magnetar Financial LLC purchased a new position in shares of Gartner during the first quarter valued at approximately $1,049,000. Institutional investors own 91.51% of the company’s stock.

Insider Activity

In other news, Director Anne Sutherland Fuchs sold 500 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $505.28, for a total transaction of $252,640.00. Following the transaction, the director now directly owns 8,059 shares of the company’s stock, valued at $4,072,051.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Anne Sutherland Fuchs sold 500 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $505.28, for a total transaction of $252,640.00. Following the transaction, the director now directly owns 8,059 shares of the company’s stock, valued at $4,072,051.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Yvonne Genovese sold 443 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $483.62, for a total value of $214,243.66. Following the transaction, the executive vice president now directly owns 1,959 shares in the company, valued at approximately $947,411.58. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,164 shares of company stock valued at $32,601,014 over the last ninety days. 3.60% of the stock is currently owned by corporate insiders.

Gartner Trading Down 0.9 %

NYSE IT opened at $513.36 on Monday. Gartner, Inc. has a 12 month low of $323.61 and a 12 month high of $535.29. The stock has a market cap of $39.85 billion, a P/E ratio of 51.08, a P/E/G ratio of 3.25 and a beta of 1.32. The stock’s fifty day moving average price is $505.35 and its 200-day moving average price is $469.98. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 3.80.

Gartner (NYSE:IT – Get Free Report) last released its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.20. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the prior year, the firm posted $2.85 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, equities analysts forecast that Gartner, Inc. will post 11.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IT has been the topic of several research analyst reports. Wells Fargo & Company boosted their target price on Gartner from $435.00 to $460.00 and gave the company an “underweight” rating in a research note on Monday, October 14th. UBS Group upped their price target on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Bank of America upped their price target on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets upped their price target on Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Finally, StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $532.86.

View Our Latest Stock Report on IT

Gartner 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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