Teachers Retirement System of The State of Kentucky Cuts Stake in Gartner, Inc. (IT)
Teachers Retirement System of The State of Kentucky lowered its stake in shares of Gartner, Inc. (NYSE:IT) by 38.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,200 shares of the information technology services provider’s stock after selling 6,440 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Gartner were worth $1,260,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in IT. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Gartner during the second quarter worth about $124,000. Bronfman E.L. Rothschild L.P. increased its stake in shares of Gartner by 9.5% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,182 shares of the information technology services provider’s stock worth $146,000 after purchasing an additional 103 shares in the last quarter. Commonwealth Bank of Australia increased its stake in shares of Gartner by 20.0% during the second quarter. Commonwealth Bank of Australia now owns 1,200 shares of the information technology services provider’s stock worth $148,000 after purchasing an additional 200 shares in the last quarter. Global X Management Co. LLC increased its stake in shares of Gartner by 31.6% during the first quarter. Global X Management Co. LLC now owns 1,725 shares of the information technology services provider’s stock worth $186,000 after purchasing an additional 414 shares in the last quarter. Finally, Noesis Capital Mangement Corp purchased a new stake in shares of Gartner during the second quarter worth about $203,000. 91.95% of the stock is owned by institutional investors and hedge funds.
In other Gartner news, Director Anne Sutherland Fuchs sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $117.02, for a total transaction of $585,100.00. Following the completion of the transaction, the director now directly owns 29,895 shares in the company, valued at approximately $3,498,312.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Robin B. Kranich sold 7,487 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $120.08, for a total transaction of $899,038.96. Following the transaction, the senior vice president now owns 21,298 shares of the company’s stock, valued at $2,557,463.84. The disclosure for this sale can be found here. Insiders have sold a total of 23,363 shares of company stock valued at $2,775,387 over the last 90 days. 4.40% of the stock is currently owned by insiders.
Gartner, Inc. (NYSE:IT) opened at 122.39 on Friday. The firm has a market capitalization of $11.09 billion, a price-to-earnings ratio of 251.31 and a beta of 1.07. The company’s 50-day moving average is $122.16 and its 200-day moving average is $119.27. Gartner, Inc. has a 52-week low of $84.54 and a 52-week high of $130.02.
Gartner (NYSE:IT) last posted its earnings results on Tuesday, August 8th. The information technology services provider reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.05. Gartner had a net margin of 1.50% and a return on equity of 103.10%. The firm had revenue of $843.73 million during the quarter, compared to the consensus estimate of $892.64 million. During the same period last year, the firm posted $0.75 EPS. The firm’s revenue for the quarter was up 38.3% on a year-over-year basis. Equities analysts predict that Gartner, Inc. will post $3.41 earnings per share for the current year.
A number of analysts have recently commented on the stock. Royal Bank Of Canada reissued a “top pick” rating and set a $142.00 target price (up previously from $130.00) on shares of Gartner in a research note on Friday, July 21st. Zacks Investment Research upgraded shares of Gartner from a “hold” rating to a “buy” rating and set a $142.00 price target on the stock in a research report on Wednesday, July 19th. BMO Capital Markets restated a “buy” rating and set a $132.00 price target on shares of Gartner in a research report on Wednesday. BidaskClub lowered shares of Gartner from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 9th. Finally, Credit Suisse Group restated an “outperform” rating and set a $138.00 price target (up from $130.00) on shares of Gartner in a research report on Wednesday, August 9th. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $126.56.
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Gartner Company Profile
Gartner, Inc is an information technology research and advisory company. The Company works with clients to research, analyze and interpret the business of information technology (IT), supply chain and marketing within the context of their individual roles. It operates in three segments: Research, Consulting and Events.
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