Commonwealth of Pennsylvania Public School Empls Retrmt SYS Cuts Stock Holdings in Gartner, Inc. (NYSE:IT)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its stake in shares of Gartner, Inc. (NYSE:IT) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,401 shares of the information technology services provider’s stock after selling 374 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Gartner were worth $7,946,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. State Street Corp boosted its position in Gartner by 1.1% in the third quarter. State Street Corp now owns 3,257,355 shares of the information technology services provider’s stock worth $1,650,697,000 after purchasing an additional 36,258 shares during the last quarter. Geode Capital Management LLC boosted its position in Gartner by 1.9% in the third quarter. Geode Capital Management LLC now owns 2,018,358 shares of the information technology services provider’s stock worth $1,020,378,000 after purchasing an additional 36,698 shares during the last quarter. Principal Financial Group Inc. boosted its position in Gartner by 0.6% in the fourth quarter. Principal Financial Group Inc. now owns 2,012,799 shares of the information technology services provider’s stock worth $975,141,000 after purchasing an additional 11,657 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Gartner by 7.3% in the third quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock worth $525,272,000 after purchasing an additional 70,236 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in Gartner by 3.3% in the third quarter. Franklin Resources Inc. now owns 801,589 shares of the information technology services provider’s stock worth $422,678,000 after purchasing an additional 25,315 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insiders Place Their Bets

In other Gartner news, Director Eileen Serra sold 1,200 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $489.77, for a total value of $587,724.00. Following the transaction, the director now directly owns 1,627 shares in the company, valued at $796,855.79. This represents a 42.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John J. Rinello sold 90 shares of the company’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 completion of the transaction, the senior vice president now owns 3,259 shares in the company, valued at $1,728,932.09. This represents a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.

Gartner Stock Performance

NYSE:IT opened at $430.03 on Friday. 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 52-week low of $409.50 and a 52-week high of $584.01. The firm has a market cap of $33.03 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 3.30 and a beta of 1.29. The business’s fifty day moving average is $502.37 and its 200 day moving average is $507.66.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (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 company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period in the previous year, the company posted $3.04 EPS. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. Research analysts predict that Gartner, Inc. will post 12.5 EPS for the current year.

Wall Street Analyst Weigh In

IT has been the topic of several research analyst reports. The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. Morgan Stanley lowered their target price 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 target price on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research note on Friday. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $525.00 to $600.00 in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Gartner presently has an average rating of “Hold” and a consensus target price of $546.63.

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.