State of New Jersey Common Pension Fund D grew its holdings in shares of Gartner Inc (NYSE:IT) by 58.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 74,300 shares of the information technology services provider’s stock after purchasing an additional 27,500 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.08% of Gartner worth $10,624,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Gartner by 1.5% in the second quarter. Vanguard Group Inc. now owns 9,512,847 shares of the information technology services provider’s stock worth $1,530,997,000 after buying an additional 136,695 shares during the last quarter. BlackRock Inc. raised its holdings in Gartner by 2.6% in the 2nd quarter. BlackRock Inc. now owns 6,337,629 shares of the information technology services provider’s stock worth $1,019,978,000 after acquiring an additional 161,750 shares during the last quarter. Polen Capital Management LLC lifted its position in Gartner by 3.2% in the 2nd quarter. Polen Capital Management LLC now owns 4,954,947 shares of the information technology services provider’s stock valued at $797,449,000 after acquiring an additional 154,604 shares in the last quarter. Morgan Stanley lifted its position in Gartner by 1.7% in the 2nd quarter. Morgan Stanley now owns 2,244,144 shares of the information technology services provider’s stock valued at $361,172,000 after acquiring an additional 37,049 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in Gartner by 4.6% in the 2nd quarter. Royal Bank of Canada now owns 1,724,463 shares of the information technology services provider’s stock valued at $277,536,000 after acquiring an additional 75,781 shares in the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have commented on IT shares. ValuEngine raised Gartner from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Bank of America boosted their target price on Gartner from $150.00 to $172.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. BMO Capital Markets dropped their price target on shares of Gartner to $142.00 and set a “market perform” rating on the stock in a report on Wednesday, July 31st. Morgan Stanley reduced their price target on shares of Gartner from $156.00 to $155.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. Finally, TheStreet cut shares of Gartner from a “b” rating to a “c+” rating in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Gartner presently has a consensus rating of “Hold” and a consensus price target of $155.40.
In related news, EVP Alwyn Dawkins sold 771 shares of Gartner stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $129.52, for a total transaction of $99,859.92. Following the transaction, the executive vice president now directly owns 34,235 shares in the company, valued at $4,434,117.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anne Sutherland Fuchs sold 1,828 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $136.75, for a total value of $249,979.00. Following the sale, the director now directly owns 27,237 shares of the company’s stock, valued at approximately $3,724,659.75. The disclosure for this sale can be found here. Insiders have sold 59,677 shares of company stock valued at $9,394,773 over the last 90 days. 4.00% of the stock is currently owned by company insiders.
Shares of IT stock traded down $2.30 on Wednesday, reaching $157.95. The stock had a trading volume of 407,471 shares, compared to its average volume of 489,915. The stock has a market cap of $14.31 billion, a P/E ratio of 41.68, a price-to-earnings-growth ratio of 3.53 and a beta of 1.23. The company has a debt-to-equity ratio of 3.08, a quick ratio of 0.68 and a current ratio of 0.68. The company has a 50 day simple moving average of $149.80 and a 200 day simple moving average of $149.75. Gartner Inc has a 1 year low of $120.89 and a 1 year high of $171.77.
Gartner (NYSE:IT) last released its quarterly earnings results on Thursday, October 31st. The information technology services provider reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.27. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $992.84 million. Gartner had a return on equity of 40.06% and a net margin of 6.04%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 EPS. On average, equities research analysts anticipate that Gartner Inc will post 3.55 earnings per share for the current fiscal year.
Gartner, Inc operates as a research and advisory company. 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 research and other reports, briefings, proprietary tools, access to analysts, peer networking services, and membership programs that enable clients to make better decisions; and practice and talent management research insights in various business functions, such as human resources, sales, legal, and finance.
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