State of Alaska Department of Revenue Sells 6,675 Shares of Gartner, Inc. (NYSE:IT)

State of Alaska Department of Revenue lowered its stake in shares of Gartner, Inc. (NYSE:IT) by 29.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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.

Other institutional investors and hedge funds have also bought and sold shares of the company. Czech National Bank grew its stake in shares of Gartner by 6.5% in the 4th quarter. Czech National Bank now owns 16,725 shares of the information technology services provider’s stock worth $8,103,000 after acquiring an additional 1,028 shares in the last quarter. Assetmark Inc. grew its position in Gartner by 70.0% in the 3rd quarter. Assetmark Inc. now owns 5,144 shares of the information technology services provider’s stock worth $2,607,000 after purchasing an additional 2,118 shares in the last quarter. ING Groep NV increased its stake in Gartner by 38.4% in the 3rd quarter. ING Groep NV now owns 10,306 shares of the information technology services provider’s stock valued at $5,223,000 after buying an additional 2,860 shares during the last quarter. Conestoga Capital Advisors LLC boosted its stake in shares of Gartner by 1.5% in the 4th quarter. Conestoga Capital Advisors LLC now owns 31,626 shares of the information technology services provider’s stock worth $15,322,000 after buying an additional 480 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of Gartner by 8.6% in the third quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock valued at $84,520,000 after acquiring an additional 13,205 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on IT. Morgan Stanley cut their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Wells Fargo & Company reduced their price target on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research report on Friday, January 10th. Robert W. Baird lifted their price objective on shares of Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a research report on Wednesday. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $525.00 to $600.00 in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Gartner has a consensus rating of “Hold” and a consensus price target of $552.63.

Gartner Stock Performance

Shares of IT opened at $534.12 on Friday. The stock’s 50-day simple moving average is $509.71 and its 200 day simple moving average is $506.06. Gartner, Inc. has a 52-week low of $411.15 and a 52-week high of $584.01. The stock has a market capitalization of $41.20 billion, a price-to-earnings ratio of 39.39, a price-to-earnings-growth ratio of 3.37 and a beta of 1.34. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, beating the consensus estimate of $3.22 by $2.23. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the previous year, the company earned $3.04 earnings per share. Gartner’s revenue for the quarter was up 8.1% on a year-over-year basis. Research analysts forecast that Gartner, Inc. will post 11.87 EPS for the current fiscal year.

Insider Activity at Gartner

In other Gartner news, EVP Claire Herkes sold 411 shares of Gartner stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $521.24, for a total transaction of $214,229.64. Following the completion of the sale, the executive vice president now owns 1,494 shares of the company’s stock, valued at $778,732.56. The trade was a 21.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James C. Smith sold 5,000 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $524.02, for a total value of $2,620,100.00. Following the transaction, the director now owns 509,457 shares in the company, valued at $266,965,657.14. This trade represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,050 shares of company stock valued at $4,292,245. Company insiders own 3.60% of the company’s stock.

Gartner 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.