Teacher Retirement System of Texas raised its position in shares of Gartner, Inc. (NYSE:IT) by 102.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,947 shares of the information technology services provider’s stock after buying an additional 31,275 shares during the quarter. Teacher Retirement System of Texas owned 0.07% of Gartner worth $11,308,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. BlackRock Inc. lifted its stake in Gartner by 1.8% during the first quarter. BlackRock Inc. now owns 6,009,892 shares of the information technology services provider’s stock valued at $1,097,107,000 after buying an additional 105,577 shares in the last quarter. Bamco Inc. NY increased its holdings in shares of Gartner by 0.3% in the 4th quarter. Bamco Inc. NY now owns 5,665,435 shares of the information technology services provider’s stock valued at $907,546,000 after purchasing an additional 15,787 shares during the period. Norges Bank acquired a new position in shares of Gartner in the 4th quarter valued at about $132,978,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Gartner by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 659,712 shares of the information technology services provider’s stock valued at $105,680,000 after purchasing an additional 5,692 shares during the period. Finally, Morgan Stanley increased its holdings in shares of Gartner by 28.1% in the 4th quarter. Morgan Stanley now owns 462,351 shares of the information technology services provider’s stock valued at $74,065,000 after purchasing an additional 101,494 shares during the period. 92.11% of the stock is owned by institutional investors.
In other Gartner news, CMO Kenneth Allard sold 1,598 shares of the stock in a transaction that occurred on Wednesday, May 12th. The stock was sold at an average price of $223.71, for a total transaction of $357,488.58. Following the transaction, the chief marketing officer now owns 1,466 shares in the company, valued at $327,958.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Alwyn Dawkins sold 6,396 shares of the stock in a transaction that occurred on Wednesday, May 5th. The shares were sold at an average price of $226.28, for a total value of $1,447,286.88. Following the transaction, the executive vice president now owns 45,572 shares in the company, valued at approximately $10,312,032.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 59,850 shares of company stock worth $13,887,776. Corporate insiders own 3.60% of the company’s stock.
Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, May 4th. The information technology services provider reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.95. Gartner had a return on equity of 50.82% and a net margin of 8.50%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the company posted $1.20 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. On average, equities analysts predict that Gartner, Inc. will post 6.45 earnings per share for the current year.
Gartner declared that its Board of Directors has approved a stock repurchase plan on Tuesday, May 4th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 2.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
IT has been the topic of a number of research reports. TheStreet upgraded Gartner from a “c+” rating to a “b+” rating in a report on Friday, March 12th. Zacks Investment Research upgraded Gartner from a “hold” rating to a “strong-buy” rating and set a $266.00 target price on the stock in a report on Friday, May 7th. Finally, Morgan Stanley upped their target price on Gartner from $204.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, May 5th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Gartner has an average rating of “Buy” and an average price target of $203.00.
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 offers objective insights and advice on the priorities of various leaders in a range of functional areas of the enterprise through reports, briefings, proprietary tools, access to research expert, peer networking services, and membership programs that enable clients to drive organizational performance.
Featured Story: Day Trading
Want to see what other hedge funds are holding IT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gartner, Inc. (NYSE:IT).
Receive News & Ratings for Gartner Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gartner and related companies with MarketBeat.com's FREE daily email newsletter.