Gartner, Inc. (NYSE:IT) Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its position in Gartner, Inc. (NYSE:IT) by 66.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,930 shares of the information technology services provider’s stock after purchasing an additional 1,165 shares during the period. Public Sector Pension Investment Board’s holdings in Gartner were worth $1,316,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its position in shares of Gartner by 11.4% during the 1st quarter. Russell Investments Group Ltd. now owns 25,063 shares of the information technology services provider’s stock valued at $11,987,000 after acquiring an additional 2,560 shares during the period. Icon Wealth Advisors LLC acquired a new stake in shares of Gartner during the 4th quarter valued at approximately $2,093,000. Transcend Capital Advisors LLC acquired a new stake in shares of Gartner during the 2nd quarter valued at approximately $512,000. Tidal Investments LLC lifted its position in shares of Gartner by 24.4% during the 1st quarter. Tidal Investments LLC now owns 9,890 shares of the information technology services provider’s stock valued at $4,717,000 after acquiring an additional 1,940 shares during the period. Finally, Findlay Park Partners LLP lifted its position in shares of Gartner by 5.7% during the 1st quarter. Findlay Park Partners LLP now owns 678,121 shares of the information technology services provider’s stock valued at $323,240,000 after acquiring an additional 36,400 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Stock Down 1.1 %

IT stock opened at $501.23 on Wednesday. The stock has a market capitalization of $38.91 billion, a P/E ratio of 49.87, a PEG ratio of 3.21 and a beta of 1.32. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90. Gartner, Inc. has a one year low of $323.61 and a one year high of $521.64. The company has a 50 day moving average price of $489.06 and a two-hundred day moving average price of $463.88.

Gartner (NYSE:IT) last released its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, topping the consensus estimate of $3.02 by $0.20. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Gartner had a net margin of 13.67% and a return on equity of 142.05%. Gartner’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.85 EPS. As a group, sell-side analysts expect that Gartner, Inc. will post 11.65 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on IT. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Wells Fargo & Company upgraded Gartner to a “strong sell” rating in a research report on Tuesday, August 13th. Bank of America lifted their price objective on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Morgan Stanley lifted their price objective on Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. Finally, BMO Capital Markets lifted their price objective on Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $521.00.

Insider Activity

In other news, EVP Akhil Jain sold 400 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $485.00, for a total transaction of $194,000.00. Following the completion of the sale, the executive vice president now directly owns 4,839 shares of the company’s stock, valued at approximately $2,346,915. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Alwyn Dawkins sold 1,000 shares of Gartner stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $505.49, for a total transaction of $505,490.00. Following the transaction, the executive vice president now owns 56,650 shares in the company, valued at approximately $28,636,008.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Akhil Jain sold 400 shares of Gartner stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $485.00, for a total transaction of $194,000.00. Following the transaction, the executive vice president now owns 4,839 shares in the company, valued at approximately $2,346,915. The disclosure for this sale can be found here. Insiders sold 65,164 shares of company stock valued at $32,601,014 in the last ninety days. 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.