State of Tennessee Department of Treasury Raises Holdings in Gartner, Inc. (NYSE:IT)

State of Tennessee Department of Treasury boosted its position in Gartner, Inc. (NYSE:IT - Free Report) by 111.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,066 shares of the information technology services provider's stock after purchasing an additional 11,626 shares during the quarter. State of Tennessee Department of Treasury's holdings in Gartner were worth $10,690,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IT. Kestra Investment Management LLC acquired a new stake in shares of Gartner in the 4th quarter worth $29,000. SBI Securities Co. Ltd. acquired a new stake in shares of Gartner during the 4th quarter worth approximately $49,000. Promus Capital LLC acquired a new stake in Gartner during the fourth quarter worth $57,000. Hurley Capital LLC acquired a new position in shares of Gartner in the 4th quarter valued at $73,000. Finally, Global Retirement Partners LLC increased its position in shares of Gartner by 14.0% during the 4th quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider's stock worth $134,000 after purchasing an additional 34 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Insider Transactions at Gartner

In related news, SVP John J. Rinello sold 90 shares of Gartner stock in a transaction that occurred on 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 in the company, valued at $1,728,932.09. The trade was a 2.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eileen Serra sold 1,200 shares of Gartner stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the sale, the director now owns 1,627 shares of the company's stock, valued at approximately $796,855.79. The trade was a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Gartner from $488.00 to $401.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 9th. Morgan Stanley decreased their price target on Gartner from $564.00 to $555.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 16th. Robert W. Baird lowered their price target on Gartner from $605.00 to $557.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. The Goldman Sachs Group reiterated a "buy" rating on shares of Gartner in a report on Tuesday, February 4th. Finally, UBS Group lowered their target price on Gartner from $565.00 to $500.00 and set a "buy" rating for the company in a report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $513.63.

Gartner Stock Down 0.4 %

Shares of IT traded down $1.48 during midday trading on Friday, hitting $416.37. The company had a trading volume of 714,574 shares, compared to its average volume of 453,869. The company's 50-day simple moving average is $437.85 and its 200-day simple moving average is $489.03. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. Gartner, Inc. has a 1 year low of $366.05 and a 1 year high of $584.01. The firm has a market capitalization of $31.98 billion, a P/E ratio of 25.97, a P/E/G ratio of 3.30 and a beta of 1.26.

Gartner (NYSE:IT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the previous year, the firm earned $3.04 earnings per share. The firm's quarterly revenue was up 8.1% on a year-over-year basis. As a group, sell-side analysts expect that Gartner, Inc. will post 12.5 EPS for the current year.

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.