Maryland State Retirement & Pension System Sells 282 Shares of Gartner, Inc. (NYSE:IT)

Maryland State Retirement & Pension System trimmed its stake in Gartner, Inc. (NYSE:IT) by 6.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,024 shares of the information technology services provider’s stock after selling 282 shares during the period. Maryland State Retirement & Pension System’s holdings in Gartner were worth $1,950,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Czech National Bank raised its stake 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 acquiring an additional 1,028 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of Gartner during the fourth quarter worth approximately $366,000. D.A. Davidson & CO. raised its stake in shares of Gartner by 2.6% during the fourth quarter. D.A. Davidson & CO. now owns 1,137 shares of the information technology services provider’s stock worth $551,000 after acquiring an additional 29 shares in the last quarter. Conestoga Capital Advisors LLC raised its stake in shares of Gartner by 1.5% during the fourth quarter. Conestoga Capital Advisors LLC now owns 31,626 shares of the information technology services provider’s stock worth $15,322,000 after acquiring an additional 480 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Gartner by 15.5% during the third quarter. Jennison Associates LLC now owns 105,769 shares of the information technology services provider’s stock worth $53,599,000 after acquiring an additional 14,167 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Gartner Stock Performance

NYSE:IT opened at $430.03 on Friday. The stock has a market cap of $33.03 billion, a P/E ratio of 26.83, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29. The firm’s fifty day simple moving average is $502.37 and its 200 day simple moving average is $507.66. Gartner, Inc. has a twelve month low of $409.50 and a twelve month high of $584.01. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, beating the consensus estimate of $3.22 by $2.23. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.04 earnings per share. As a group, research analysts predict that Gartner, Inc. will post 12.5 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on IT. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research note on Friday. Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $525.00 to $600.00 in a report on Friday, January 10th. Wells Fargo & Company cut their target price 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. Robert W. Baird cut their target price on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a report on Friday. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $546.63.

Insider Buying and Selling at Gartner

In other Gartner news, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the transaction, the senior vice president now 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Eileen Serra sold 1,200 shares of Gartner 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 completion of the transaction, the director now directly owns 1,627 shares of the company’s stock, valued at approximately $796,855.79. This represents a 42.45 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

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.