Retirement Systems of Alabama Sells 62,861 Shares of Gartner, Inc. (IT)

Retirement Systems of Alabama cut its position in Gartner, Inc. (NYSE:IT) by 58.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 43,846 shares of the information technology services provider’s stock after selling 62,861 shares during the period. Retirement Systems of Alabama’s holdings in Gartner were worth $5,415,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of IT. First Mercantile Trust Co. boosted its stake in Gartner by 1.1% in the first quarter. First Mercantile Trust Co. now owns 3,321 shares of the information technology services provider’s stock worth $359,000 after buying an additional 37 shares in the last quarter. First Quadrant L P CA boosted its stake in Gartner by 155.3% in the first quarter. First Quadrant L P CA now owns 66,132 shares of the information technology services provider’s stock worth $7,142,000 after buying an additional 40,228 shares in the last quarter. Glen Harbor Capital Management LLC boosted its stake in Gartner by 12.7% in the first quarter. Glen Harbor Capital Management LLC now owns 2,704 shares of the information technology services provider’s stock worth $292,000 after buying an additional 304 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Gartner by 131.9% in the first quarter. Acadian Asset Management LLC now owns 6,061 shares of the information technology services provider’s stock worth $654,000 after buying an additional 3,447 shares in the last quarter. Finally, Profund Advisors LLC boosted its stake in Gartner by 6.2% in the first quarter. Profund Advisors LLC now owns 11,737 shares of the information technology services provider’s stock worth $1,267,000 after buying an additional 682 shares in the last quarter. 87.56% of the stock is owned by institutional investors and hedge funds.

Gartner, Inc. (IT) opened at 120.32 on Friday. The company has a market capitalization of $10.90 billion, a price-to-earnings ratio of 247.06 and a beta of 1.05. The firm has a 50-day moving average price of $124.99 and a 200-day moving average price of $114.61. Gartner, Inc. has a 12 month low of $84.54 and a 12 month high of $130.02.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, August 8th. The information technology services provider reported $0.88 EPS for the quarter, beating the 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 business had revenue of $843.73 million during the quarter, compared to the consensus estimate of $892.64 million. During the same period in the previous year, the business earned $0.75 earnings per share. The company’s revenue was up 38.3% on a year-over-year basis. On average, equities analysts anticipate that Gartner, Inc. will post $3.41 earnings per share for the current fiscal year.

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A number of research firms recently weighed in on IT. BidaskClub cut Gartner from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 9th. Zacks Investment Research cut Gartner from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Credit Suisse Group reaffirmed an “outperform” rating and set a $138.00 price target (up from $130.00) on shares of Gartner in a report on Wednesday, August 9th. TheStreet cut Gartner from a “b” rating to a “c+” rating in a report on Tuesday, August 8th. Finally, Morgan Stanley raised their price target on Gartner from $106.00 to $112.00 and gave the company an “equal weight” rating in a report on Monday, May 8th. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Gartner has an average rating of “Buy” and an average price target of $126.89.

In other news, Director Anne Sutherland Fuchs sold 5,000 shares of the company’s stock in a transaction on 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 $3,498,312.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Alwyn Dawkins sold 1,400 shares of the company’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $116.05, for a total transaction of $162,470.00. Following the transaction, the senior vice president now owns 29,085 shares of the company’s stock, valued at $3,375,314.25. The disclosure for this sale can be found here. Insiders have sold 51,125 shares of company stock valued at $6,030,127 over the last quarter. Company insiders own 4.40% of the company’s stock.

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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Institutional Ownership by Quarter for Gartner (NYSE:IT)

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