State of Alaska Department of Revenue Has $11.52 Million Stake in Gartner, Inc. (NYSE:IT)

State of Alaska Department of Revenue cut its stake in Gartner, Inc. (NYSE:IT - Free Report) by 24.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (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.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Gartner by 0.7% in the first quarter. Vanguard Group Inc. now owns 8,974,760 shares of the information technology services provider's stock valued at $4,277,999,000 after acquiring an additional 60,786 shares during the period. Principal Financial Group Inc. increased its stake in Gartner by 22.0% during the 2nd quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider's stock worth $852,014,000 after purchasing an additional 341,911 shares in the last quarter. Findlay Park Partners LLP raised its holdings in Gartner by 5.7% during the 1st quarter. Findlay Park Partners LLP now owns 678,121 shares of the information technology services provider's stock worth $323,240,000 after buying an additional 36,400 shares during the period. Bessemer Group Inc. lifted its stake in Gartner by 1.3% in the first quarter. Bessemer Group Inc. now owns 609,945 shares of the information technology services provider's stock valued at $290,742,000 after buying an additional 7,852 shares in the last quarter. Finally, Sustainable Growth Advisers LP bought a new stake in Gartner in the 2nd quarter valued at $266,541,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on IT. UBS Group boosted their target price on Gartner from $510.00 to $580.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Morgan Stanley raised their target price on shares of Gartner from $490.00 to $528.00 and gave the company an "equal weight" rating in a research report on Thursday, October 10th. Bank of America boosted their price target on shares of Gartner from $525.00 to $580.00 and gave the stock a "buy" rating in a research report on Wednesday, July 31st. Wells Fargo & Company increased their price objective on shares of Gartner from $435.00 to $460.00 and gave the stock an "underweight" rating in a research note on Monday, October 14th. Finally, BMO Capital Markets lifted their target price on Gartner from $450.00 to $510.00 and gave the company a "market perform" rating in a research report on Wednesday, July 31st. One research 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's stock. According to MarketBeat, Gartner currently has an average rating of "Hold" and a consensus target price of $532.86.

Gartner Stock Performance

Shares of NYSE IT traded up $1.45 during trading hours on Monday, reaching $514.81. 191,066 shares of the stock were exchanged, compared to its average volume of 366,923. The firm has a market capitalization of $39.96 billion, a price-to-earnings ratio of 51.22, a P/E/G ratio of 3.25 and a beta of 1.32. The stock's fifty day simple moving average is $505.95 and its 200 day simple moving average is $470.26. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90. Gartner, Inc. has a 52 week low of $324.98 and a 52 week high of $535.29.

Gartner (NYSE:IT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.20. The firm had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.58 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The company's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.85 EPS. Sell-side analysts predict that Gartner, Inc. will post 11.65 EPS for the current year.

Insider Buying and Selling

In other Gartner news, CEO Eugene A. Hall sold 34,060 shares of the business's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the completion of the transaction, the chief executive officer now directly owns 1,143,401 shares in the company, valued at $577,874,865.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Eugene A. Hall sold 34,060 shares of the company's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the completion of the transaction, the chief executive officer now directly owns 1,143,401 shares in the company, valued at approximately $577,874,865.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eugene A. Hall sold 12,082 shares of the firm's stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $504.84, for a total value of $6,099,476.88. Following the sale, the chief executive officer now directly owns 1,143,389 shares in the company, valued at approximately $577,228,502.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,164 shares of company stock valued at $32,601,014 over the last quarter. 3.60% of the stock is owned by company insiders.

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.