Gartner, Inc. $IT Stock Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in Gartner, Inc. (NYSE:IT) by 30.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,900 shares of the information technology services provider’s stock after buying an additional 3,900 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Gartner were worth $3,153,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in IT. Robertson Stephens Wealth Management LLC lifted its holdings in Gartner by 1.7% during the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 3,061 shares of the information technology services provider’s stock worth $571,000 after buying an additional 52 shares during the period. Mufg Securities Americas Inc. grew its position in shares of Gartner by 3.5% in the 2nd quarter. Mufg Securities Americas Inc. now owns 2,017 shares of the information technology services provider’s stock valued at $261,000 after buying an additional 68 shares during the last quarter. Empirical Finance LLC increased its stake in shares of Gartner by 2.9% in the second quarter. Empirical Finance LLC now owns 2,774 shares of the information technology services provider’s stock valued at $360,000 after buying an additional 77 shares during the period. Syon Capital LLC increased its stake in shares of Gartner by 5.3% in the second quarter. Syon Capital LLC now owns 1,623 shares of the information technology services provider’s stock valued at $210,000 after buying an additional 82 shares during the period. Finally, Parkside Financial Bank & Trust raised its position in shares of Gartner by 50.3% during the second quarter. Parkside Financial Bank & Trust now owns 293 shares of the information technology services provider’s stock worth $38,000 after acquiring an additional 98 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Robin Kranich sold 3,278 shares of Gartner stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $196.50, for a total value of $644,127.00. Following the completion of the sale, the executive vice president directly owned 20,358 shares in the company, valued at $4,000,347. The trade was a 13.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Yvonne Genovese sold 1,205 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $190.06, for a total transaction of $229,022.30. Following the sale, the executive vice president directly owned 6,208 shares of the company’s stock, valued at $1,179,892.48. The trade was a 16.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 6,043 shares of company stock valued at $1,172,858. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on IT shares. Morgan Stanley raised their target price on Gartner from $177.00 to $182.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 8th. Zacks Research lowered shares of Gartner from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Wells Fargo & Company lifted their price objective on shares of Gartner from $150.00 to $175.00 and gave the stock an “underweight” rating in a report on Tuesday, October 20th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $198.00 target price on shares of Gartner in a research note on Tuesday, October 20th. Finally, UBS Group increased their target price on shares of Gartner from $196.00 to $208.00 and gave the company a “neutral” rating in a report on Monday, October 5th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $198.50.

Gartner Price Performance

Shares of Gartner stock opened at $235.18 on Tuesday. The firm has a market capitalization of $14.85 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 0.82 and a beta of 0.98. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 46.98. Gartner, Inc. has a 12 month low of $124.25 and a 12 month high of $256.89. The business’s 50-day moving average price is $197.04 and its 200-day moving average price is $170.19.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, August 4th. The information technology services provider reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $3.76 by $0.61. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.65 billion. Gartner had a return on equity of 525.46% and a net margin of 11.99%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.53 earnings per share. Sell-side analysts forecast that Gartner, Inc. will post 14.39 EPS for the current fiscal year.

Gartner Profile

Gartner, Inc is a global research and advisory company that provides information, analysis and guidance to business leaders, technology professionals and public-sector organizations. Its work focuses on helping clients evaluate technology markets, develop business strategies, manage risk and make decisions about digital transformation and other organizational priorities.

The company delivers its services through research and advisory programs, consulting engagements, executive guidance and conferences.