Kentucky Retirement Systems Insurance Trust Fund Cuts Position in Gartner, Inc. (NYSE:IT)

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in shares of Gartner, Inc. (NYSE:IT) by 8.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,282 shares of the information technology services provider’s stock after selling 222 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Gartner were worth $1,156,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Eastern Bank acquired a new position in Gartner during the 3rd quarter worth about $26,000. Ashton Thomas Securities LLC purchased a new stake in Gartner during the third quarter worth about $44,000. Crewe Advisors LLC increased its stake in Gartner by 223.3% during the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock worth $44,000 after purchasing an additional 67 shares during the period. Fortitude Family Office LLC lifted its position in shares of Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after purchasing an additional 20 shares in the last quarter. Finally, Asset Dedication LLC boosted its stake in shares of Gartner by 46.5% in the third quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock valued at $75,000 after purchasing an additional 47 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Gartner Trading Down 2.7 %

Shares of Gartner stock opened at $522.86 on Monday. The firm has a market cap of $40.29 billion, a price-to-earnings ratio of 38.56, a price-to-earnings-growth ratio of 3.27 and a beta of 1.32. Gartner, Inc. has a 52-week low of $411.15 and a 52-week high of $559.00. The company’s 50-day simple moving average is $518.32 and its 200-day simple moving average is $478.34. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.05. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.56 EPS. As a group, equities research analysts anticipate that Gartner, Inc. will post 11.89 earnings per share for the current year.

Insider Buying and Selling at Gartner

In related news, Director James C. Smith sold 2,450 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $554.68, for a total value of $1,358,966.00. Following the sale, the director now owns 529,844 shares in the company, valued at $293,893,869.92. This represents a 0.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Claire Herkes sold 478 shares of Gartner stock in a transaction on Friday, September 13th. The stock was sold at an average price of $506.01, for a total value of $241,872.78. Following the transaction, the executive vice president now directly owns 1,905 shares of the company’s stock, valued at $963,949.05. This trade represents a 20.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,172 shares of company stock valued at $38,023,255. 3.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on IT. BMO Capital Markets upped their target price on shares of Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. UBS Group increased their price objective on Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company boosted their target price on Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 6th. Bank of America upped their price target on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Morgan Stanley lifted their price objective on shares of Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Gartner currently has a consensus rating of “Hold” and an average target price of $539.25.

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.