State of Alaska Department of Revenue Cuts Stock Holdings in Gartner, Inc. (NYSE:IT)

State of Alaska Department of Revenue reduced its stake in shares of Gartner, Inc. (NYSE:IT) by 29.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 16,055 shares of the information technology services provider’s stock after selling 6,675 shares during the quarter. State of Alaska Department of Revenue’s holdings in Gartner were worth $7,777,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Assenagon Asset Management S.A. increased its stake in Gartner by 208.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 272,267 shares of the information technology services provider’s stock worth $131,905,000 after purchasing an additional 183,974 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Gartner in the third quarter worth $70,955,000. Principal Financial Group Inc. raised its holdings in Gartner by 5.5% during the 3rd quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock valued at $1,014,099,000 after buying an additional 103,814 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Gartner during the 3rd quarter valued at $36,789,000. Finally, JPMorgan Chase & Co. grew its holdings in Gartner by 7.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock worth $525,272,000 after acquiring an additional 70,236 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

IT has been the subject of a number of analyst reports. Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $525.00 to $600.00 in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft boosted their target price on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Wells Fargo & Company dropped their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. Robert W. Baird upped their price objective on shares of Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $552.63.

Gartner Stock Down 1.3 %

Shares of Gartner stock opened at $534.12 on Friday. Gartner, Inc. has a 1 year low of $411.15 and a 1 year high of $584.01. The firm has a market cap of $41.20 billion, a price-to-earnings ratio of 39.39, a PEG ratio of 3.37 and a beta of 1.34. The company has a 50-day moving average of $509.71 and a 200 day moving average of $506.06. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02.

Gartner (NYSE:IT) last released its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $2.23. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.69 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The business’s revenue was up 8.1% on a year-over-year basis. During the same period last year, the business earned $3.04 earnings per share. As a group, sell-side analysts anticipate that Gartner, Inc. will post 11.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP William James Wartinbee III sold 189 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $523.54, for a total value of $98,949.06. Following the transaction, the executive vice president now owns 7,311 shares in the company, valued at approximately $3,827,600.94. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Claire Herkes sold 411 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total transaction of $214,229.64. Following the sale, the executive vice president now owns 1,494 shares in the company, valued at approximately $778,732.56. The trade was a 21.57 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,050 shares of company stock valued at $4,292,245. 3.60% of the stock is currently owned by corporate insiders.

Gartner Company 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.