Retirement Systems of Alabama Cuts Stake in Gartner, Inc. (NYSE:IT)

Retirement Systems of Alabama cut its holdings in Gartner, Inc. (NYSE:IT) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,885 shares of the information technology services provider’s stock after selling 239 shares during the period. Retirement Systems of Alabama’s holdings in Gartner were worth $8,557,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IT. Atria Wealth Solutions Inc. lifted its holdings in shares of Gartner by 2.9% in the second quarter. Atria Wealth Solutions Inc. now owns 3,087 shares of the information technology services provider’s stock worth $1,386,000 after buying an additional 88 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in Gartner in the 2nd quarter worth $284,000. &PARTNERS bought a new position in shares of Gartner during the 2nd quarter valued at about $1,025,000. Grove Bank & Trust grew its position in shares of Gartner by 3.9% during the second quarter. Grove Bank & Trust now owns 3,250 shares of the information technology services provider’s stock valued at $1,459,000 after purchasing an additional 121 shares in the last quarter. Finally, Argent Capital Management LLC increased its holdings in shares of Gartner by 1.7% in the second quarter. Argent Capital Management LLC now owns 7,903 shares of the information technology services provider’s stock worth $3,549,000 after purchasing an additional 131 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on IT. Wells Fargo & Company increased their price target on Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft increased their target price on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Morgan Stanley boosted their price target on shares of Gartner from $560.00 to $564.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Robert W. Baird increased their price objective on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, Barclays boosted their target price on shares of Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $543.75.

Insider Transactions at Gartner

In other news, EVP Claire Herkes sold 411 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total value of $214,229.64. Following the transaction, the executive vice president now directly owns 1,494 shares in the company, valued at approximately $778,732.56. This represents a 21.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP William James Wartinbee III sold 189 shares of Gartner stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $523.54, for a total transaction of $98,949.06. Following the sale, the executive vice president now owns 7,311 shares of the company’s stock, valued at $3,827,600.94. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,583 shares of company stock worth $19,241,974. 3.60% of the stock is currently owned by company insiders.

Gartner Trading Down 1.2 %

IT stock opened at $496.75 on Wednesday. The firm’s fifty day simple moving average is $521.98 and its two-hundred day simple moving average is $489.94. The stock has a market capitalization of $38.32 billion, a price-to-earnings ratio of 36.68, a price-to-earnings-growth ratio of 3.24 and a beta of 1.31. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31. Gartner, Inc. has a twelve month low of $411.15 and a twelve month high of $559.00.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.45 by $0.05. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.56 EPS. As a group, analysts anticipate that Gartner, Inc. will post 11.89 earnings per share for the current year.

About Gartner

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.