State of Michigan Retirement System Reduces Stock Holdings in Gartner, Inc. (NYSE:IT)

State of Michigan Retirement System decreased its stake in Gartner, Inc. (NYSE:ITFree Report) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,347 shares of the information technology services provider’s stock after selling 300 shares during the quarter. State of Michigan Retirement System’s holdings in Gartner were worth $9,630,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of IT. OFI Invest Asset Management bought a new stake in shares of Gartner during the 3rd quarter worth approximately $25,000. BKM Wealth Management LLC bought a new stake in shares of Gartner during the 4th quarter worth approximately $26,000. Cornerstone Planning Group LLC bought a new stake in shares of Gartner during the 2nd quarter worth approximately $27,000. VisionPoint Advisory Group LLC lifted its stake in shares of Gartner by 254.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 85 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 61 shares during the last quarter. Finally, Resurgent Financial Advisors LLC bought a new stake in shares of Gartner during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IT. UBS Group raised their price target on Gartner from $412.00 to $490.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 6th. Wells Fargo & Company lifted their target price on Gartner from $380.00 to $435.00 and gave the company an “overweight” rating in a research report on Friday, December 15th. BMO Capital Markets lifted their target price on Gartner from $444.00 to $450.00 and gave the company a “market perform” rating in a research report on Thursday, February 8th. Morgan Stanley lifted their target price on Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Finally, StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $455.25.

Get Our Latest Report on Gartner

Gartner Stock Down 1.7 %

Shares of IT stock opened at $469.48 on Wednesday. Gartner, Inc. has a 1-year low of $292.60 and a 1-year high of $486.54. The stock’s fifty day moving average price is $464.98 and its 200 day moving average price is $425.45. The company has a debt-to-equity ratio of 3.60, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $36.61 billion, a price-to-earnings ratio of 42.45, a price-to-earnings-growth ratio of 4.36 and a beta of 1.29.

Gartner (NYSE:ITGet Free Report) last announced its earnings results on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.21. Gartner had a return on equity of 156.35% and a net margin of 14.94%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the previous year, the business earned $3.70 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, research analysts expect that Gartner, Inc. will post 11.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Gartner news, EVP Valentin Sribar sold 682 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $453.00, for a total transaction of $308,946.00. Following the sale, the executive vice president now owns 12,269 shares in the company, valued at approximately $5,557,857. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Gartner news, EVP Valentin Sribar sold 682 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $453.00, for a total transaction of $308,946.00. Following the sale, the executive vice president now owns 12,269 shares in the company, valued at approximately $5,557,857. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James C. Smith sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $455.00, for a total value of $2,275,000.00. Following the sale, the director now owns 638,235 shares in the company, valued at approximately $290,396,925. The disclosure for this sale can be found here. Insiders have sold a total of 22,952 shares of company stock worth $10,598,070 in the last ninety days. 3.90% of the stock is owned by insiders.

About Gartner

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Gartner (NYSE:IT)

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