California State Teachers Retirement System Boosts Stake in Gartner, Inc. (NYSE:IT)

California State Teachers Retirement System grew its stake in shares of Gartner, Inc. (NYSE:IT) by 0.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 125,457 shares of the information technology services provider’s stock after buying an additional 64 shares during the quarter. California State Teachers Retirement System owned 0.16% of Gartner worth $59,802,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. raised its position in shares of Gartner by 20.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 593 shares of the information technology services provider’s stock valued at $283,000 after buying an additional 102 shares in the last quarter. Dynasty Wealth Management LLC purchased a new position in Gartner in the 1st quarter worth $1,432,000. Industrial Alliance Investment Management Inc. raised its position in Gartner by 4.4% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 1,760 shares of the information technology services provider’s stock worth $839,000 after purchasing an additional 74 shares during the period. Third Point LLC purchased a new position in Gartner in the 1st quarter worth $26,217,000. Finally, Price T Rowe Associates Inc. MD raised its position in Gartner by 38.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 414,559 shares of the information technology services provider’s stock worth $197,608,000 after purchasing an additional 114,610 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Activity at Gartner

In other Gartner news, Director James C. Smith sold 10,000 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $455.20, for a total value of $4,552,000.00. Following the transaction, the director now directly owns 608,369 shares in the company, valued at $276,929,568.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Alwyn Dawkins sold 600 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $447.63, for a total value of $268,578.00. Following the completion of the sale, the executive vice president now owns 51,583 shares in the company, valued at approximately $23,090,098.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James C. Smith sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $455.20, for a total transaction of $4,552,000.00. Following the completion of the sale, the director now owns 608,369 shares of the company’s stock, valued at approximately $276,929,568.80. The disclosure for this sale can be found here. Insiders have sold a total of 22,544 shares of company stock worth $10,079,813 over the last quarter. Company insiders own 3.60% of the company’s stock.

Gartner Trading Up 0.0 %

Shares of NYSE IT traded up $0.08 during midday trading on Thursday, hitting $501.27. 17,311 shares of the company traded hands, compared to its average volume of 406,088. Gartner, Inc. has a 12-month low of $323.61 and a 12-month high of $509.15. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a 50-day moving average price of $447.16 and a 200 day moving average price of $454.38. The firm has a market cap of $38.91 billion, a P/E ratio of 49.87, a P/E/G ratio of 4.55 and a beta of 1.33.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $3.02 by $0.20. Gartner had a net margin of 13.67% and a return on equity of 141.59%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the prior year, the company earned $2.85 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. As a group, analysts expect that Gartner, Inc. will post 11.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. BMO Capital Markets boosted their price objective on shares of Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research report on Wednesday. UBS Group boosted their price objective on shares of Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday. Robert W. Baird boosted their price objective on shares of Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Bank of America boosted their price objective on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $521.00.

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.