State of Alaska Department of Revenue Raises Position in Gartner, Inc. (NYSE:IT)

State of Alaska Department of Revenue raised its stake in Gartner, Inc. (NYSE:ITGet Rating) by 34.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,546 shares of the information technology services provider’s stock after purchasing an additional 3,975 shares during the quarter. State of Alaska Department of Revenue’s holdings in Gartner were worth $3,759,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of IT. CVA Family Office LLC increased its position in shares of Gartner by 25.0% during the first quarter. CVA Family Office LLC now owns 175 shares of the information technology services provider’s stock valued at $52,000 after acquiring an additional 35 shares during the last quarter. Allworth Financial LP increased its position in shares of Gartner by 39.3% during the first quarter. Allworth Financial LP now owns 124 shares of the information technology services provider’s stock valued at $37,000 after acquiring an additional 35 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Gartner by 0.8% during the first quarter. Daiwa Securities Group Inc. now owns 5,000 shares of the information technology services provider’s stock valued at $1,487,000 after acquiring an additional 38 shares during the last quarter. Veriti Management LLC increased its position in shares of Gartner by 1.7% during the first quarter. Veriti Management LLC now owns 2,371 shares of the information technology services provider’s stock valued at $705,000 after acquiring an additional 39 shares during the last quarter. Finally, Fieldpoint Private Securities LLC increased its position in shares of Gartner by 6.2% during the first quarter. Fieldpoint Private Securities LLC now owns 724 shares of the information technology services provider’s stock valued at $215,000 after acquiring an additional 42 shares during the last quarter. 92.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on IT. BMO Capital Markets decreased their price target on Gartner from $315.00 to $265.00 and set a “market perform” rating for the company in a research report on Tuesday, June 21st. TheStreet raised Gartner from a “c+” rating to a “b-” rating in a report on Wednesday, August 17th. Morgan Stanley increased their price objective on Gartner from $274.00 to $300.00 and gave the company an “equal weight” rating in a report on Wednesday, August 3rd. Wells Fargo & Company increased their price objective on Gartner from $305.00 to $345.00 and gave the company an “overweight” rating in a report on Wednesday, August 3rd. Finally, Robert W. Baird increased their price objective on Gartner from $334.00 to $365.00 in a report on Wednesday, August 3rd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $321.67.

Gartner Price Performance

Gartner stock opened at $287.60 on Thursday. Gartner, Inc. has a one year low of $221.39 and a one year high of $368.99. The business has a fifty day moving average price of $287.09 and a 200-day moving average price of $275.04. The company has a debt-to-equity ratio of 20.79, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market capitalization of $22.75 billion, a P/E ratio of 32.42, a PEG ratio of 3.00 and a beta of 1.40.

Gartner (NYSE:ITGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The information technology services provider reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.70. Gartner had a return on equity of 497.67% and a net margin of 14.42%. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the company earned $2.24 earnings per share. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. As a group, equities research analysts forecast that Gartner, Inc. will post 9.08 EPS for the current year.

Insider Activity

In related news, EVP Alwyn Dawkins sold 1,197 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $300.00, for a total value of $359,100.00. Following the transaction, the executive vice president now directly owns 39,590 shares in the company, valued at $11,877,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Alwyn Dawkins sold 1,197 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $300.00, for a total value of $359,100.00. Following the transaction, the executive vice president now directly owns 39,590 shares in the company, valued at $11,877,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Yvonne Genovese sold 645 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $310.02, for a total transaction of $199,962.90. Following the completion of the transaction, the executive vice president now owns 639 shares in the company, valued at $198,102.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,640 shares of company stock worth $7,006,015. 3.70% of the stock is currently owned by insiders.

Gartner Company Profile

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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.

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Institutional Ownership by Quarter for Gartner (NYSE:IT)

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