California Public Employees Retirement System Sells 6,254 Shares of Gartner, Inc. (NYSE:IT)

California Public Employees Retirement System decreased its holdings in shares of Gartner, Inc. (NYSE:IT) by 1.8% during the 4th quarter, Holdings Channel reports. The firm owned 349,440 shares of the information technology services provider’s stock after selling 6,254 shares during the quarter. California Public Employees Retirement System’s holdings in Gartner were worth $169,293,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new stake in Gartner in the fourth quarter valued at $29,000. SBI Securities Co. Ltd. bought a new position in shares of Gartner during the 4th quarter worth about $49,000. True Wealth Design LLC increased its position in Gartner by 2,350.0% in the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock valued at $50,000 after buying an additional 94 shares in the last quarter. Promus Capital LLC bought a new stake in Gartner in the 4th quarter valued at about $57,000. Finally, Global Retirement Partners LLC raised its stake in Gartner by 14.0% during the 4th quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider’s stock worth $134,000 after buying an additional 34 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on IT shares. Morgan Stanley decreased their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Robert W. Baird decreased their price target on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. UBS Group dropped their price objective on shares of Gartner from $565.00 to $500.00 and set a “buy” rating on the stock in a research note on Tuesday, March 25th. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $525.00 to $600.00 in a research report on Friday, January 10th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, Gartner has an average rating of “Hold” and an average target price of $536.63.

Gartner Stock Down 1.5 %

Gartner stock opened at $418.57 on Monday. Gartner, Inc. has a fifty-two week low of $409.50 and a fifty-two week high of $584.01. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. The firm’s 50-day simple moving average is $494.18 and its 200 day simple moving average is $505.61. The stock has a market cap of $32.15 billion, a PE ratio of 26.11, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $2.23. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.69 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.04 EPS. Research analysts predict that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the sale, the senior vice president now owns 3,259 shares in the company, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eileen Serra sold 1,200 shares of Gartner stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the sale, the director now directly owns 1,627 shares in the company, valued at $796,855.79. This trade represents a 42.45 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

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.