New York State Teachers Retirement System Has $34.18 Million Position in Gartner, Inc. (NYSE:IT)

New York State Teachers Retirement System lessened its stake in shares of Gartner, Inc. (NYSE:IT) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 0.09% of Gartner worth $34,177,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in IT. Assenagon Asset Management S.A. increased its stake in Gartner by 208.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 272,267 shares of the information technology services provider’s stock worth $131,905,000 after acquiring an additional 183,974 shares during the period. Point72 Asset Management L.P. bought a new position in Gartner during the 3rd quarter worth $70,955,000. Principal Financial Group Inc. increased its stake in Gartner by 5.5% during the 3rd quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock worth $1,014,099,000 after acquiring an additional 103,814 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Gartner in the 3rd quarter valued at $36,789,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Gartner by 7.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock valued at $525,272,000 after purchasing an additional 70,236 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

IT has been the topic of several recent analyst reports. Robert W. Baird lifted their price target on Gartner from $579.00 to $605.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $525.00 to $600.00 in a research note on Friday, January 10th. Wells Fargo & Company decreased their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. Morgan Stanley cut their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Gartner has a consensus rating of “Hold” and a consensus target price of $552.63.

Gartner Stock Down 0.4 %

Shares of IT opened at $515.34 on Friday. The company has a market capitalization of $39.75 billion, a PE ratio of 32.15, a PEG ratio of 3.50 and a beta of 1.34. Gartner, Inc. has a 12 month low of $411.15 and a 12 month high of $584.01. The stock’s 50-day moving average price is $510.09 and its two-hundred day moving average price is $508.39. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, topping the consensus estimate of $3.22 by $2.23. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.69 billion. Gartner had a return on equity of 136.32% and a net margin of 20.00%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.04 EPS. On average, analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Claire Herkes sold 411 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $521.24, for a total value of $214,229.64. Following the transaction, the executive vice president now directly owns 1,494 shares of the company’s stock, valued at $778,732.56. The trade was a 21.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP William James Wartinbee III sold 189 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $523.54, for a total value of $98,949.06. Following the completion of the transaction, the executive vice president now directly owns 7,311 shares in the company, valued at $3,827,600.94. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,690 shares of company stock valued at $2,981,025. 3.60% of the stock is currently owned by company insiders.

Gartner 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.