New York State Teachers Retirement System Cuts Stake in Gartner, Inc. (NYSE:IT)

New York State Teachers Retirement System cut its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,545 shares of the information technology services provider's stock after selling 2,125 shares during the period. New York State Teachers Retirement System owned about 0.09% of Gartner worth $34,177,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Czech National Bank grew its holdings in shares of Gartner by 6.5% during the fourth quarter. Czech National Bank now owns 16,725 shares of the information technology services provider's stock worth $8,103,000 after purchasing an additional 1,028 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Gartner by 70.0% in the 3rd quarter. Assetmark Inc. now owns 5,144 shares of the information technology services provider's stock valued at $2,607,000 after acquiring an additional 2,118 shares during the period. Entropy Technologies LP purchased a new stake in Gartner in the 4th quarter valued at $366,000. ING Groep NV boosted its stake in Gartner by 38.4% during the 3rd quarter. ING Groep NV now owns 10,306 shares of the information technology services provider's stock worth $5,223,000 after purchasing an additional 2,860 shares during the period. Finally, Conestoga Capital Advisors LLC grew its position in Gartner by 1.5% during the 4th quarter. Conestoga Capital Advisors LLC now owns 31,626 shares of the information technology services provider's stock worth $15,322,000 after purchasing an additional 480 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Gartner Price Performance

IT stock traded up $2.87 on Wednesday, reaching $516.02. The company had a trading volume of 406,492 shares, compared to its average volume of 477,775. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. The company's fifty day moving average is $510.10 and its 200 day moving average is $508.59. The company has a market cap of $39.80 billion, a P/E ratio of 32.19, a PEG ratio of 3.37 and a beta of 1.34. Gartner, Inc. has a 1 year low of $411.15 and a 1 year high of $584.01.

Gartner (NYSE:IT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, beating analysts' consensus estimates of $3.22 by $2.23. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the company earned $3.04 earnings per share. The business's revenue for the quarter was up 8.1% compared to the same quarter last year. On average, research analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current year.

Insider Activity

In other Gartner news, SVP John J. Rinello sold 90 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $530.51, for a total value of $47,745.90. Following the sale, the senior vice president now directly owns 3,259 shares of the company's stock, valued at approximately $1,728,932.09. This trade represents a 2.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James C. Smith sold 5,000 shares of the business's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $524.02, for a total transaction of $2,620,100.00. Following the sale, the director now directly owns 509,457 shares of the company's stock, valued at $266,965,657.14. This represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,690 shares of company stock valued at $2,981,025 over the last 90 days. Insiders own 3.60% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Barclays upgraded Gartner from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $525.00 to $600.00 in a research report on Friday, January 10th. Robert W. Baird boosted their target price on shares of Gartner from $579.00 to $605.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 5th. StockNews.com upgraded shares of Gartner from a "hold" rating to a "buy" rating in a report on Wednesday, February 12th. Wells Fargo & Company decreased their price objective on shares of Gartner from $470.00 to $460.00 and set an "underweight" rating on the stock in a report on Friday, January 10th. Finally, Morgan Stanley dropped their target price on shares of Gartner from $564.00 to $555.00 and set an "equal weight" rating for the company in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $552.63.

Gartner Company Profile

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.