Texas Permanent School Fund cut its position in Gartner Inc (NYSE:IT) by 4.5% during the first quarter, Holdings Channel reports. The firm owned 17,454 shares of the information technology services provider’s stock after selling 828 shares during the quarter. Texas Permanent School Fund’s holdings in Gartner were worth $2,647,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in IT. NumerixS Investment Technologies Inc purchased a new position in Gartner during the 4th quarter worth $176,000. National Pension Service grew its position in Gartner by 4.7% during the 4th quarter. National Pension Service now owns 118,545 shares of the information technology services provider’s stock worth $16,900,000 after purchasing an additional 5,314 shares during the last quarter. Vanguard Group Inc grew its position in Gartner by 0.5% during the 3rd quarter. Vanguard Group Inc now owns 9,199,545 shares of the information technology services provider’s stock worth $1,458,127,000 after purchasing an additional 43,975 shares during the last quarter. Raymond James & Associates grew its position in Gartner by 3.6% during the 4th quarter. Raymond James & Associates now owns 33,449 shares of the information technology services provider’s stock worth $4,276,000 after purchasing an additional 1,164 shares during the last quarter. Finally, Strs Ohio lifted its stake in shares of Gartner by 2,278.8% in the 1st quarter. Strs Ohio now owns 86,233 shares of the information technology services provider’s stock worth $13,079,000 after acquiring an additional 82,608 shares during the period. 99.23% of the stock is currently owned by institutional investors.
Shares of IT stock traded down $0.35 during mid-day trading on Friday, hitting $154.62. The stock had a trading volume of 1,591 shares, compared to its average volume of 449,052. Gartner Inc has a fifty-two week low of $120.89 and a fifty-two week high of $161.85. The stock has a market capitalization of $13.69 billion, a PE ratio of 40.61, a price-to-earnings-growth ratio of 2.72 and a beta of 1.31. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.67 and a current ratio of 0.67.
Gartner (NYSE:IT) last released its earnings results on Tuesday, May 7th. The information technology services provider reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.05. Gartner had a net margin of 4.09% and a return on equity of 37.59%. The company had revenue of $970.00 million during the quarter, compared to analysts’ expectations of $960.72 million. During the same quarter last year, the business earned $0.72 EPS. The business’s revenue was up .6% on a year-over-year basis. Equities analysts forecast that Gartner Inc will post 3.96 earnings per share for the current fiscal year.
In other Gartner news, CEO Eugene A. Hall sold 90,935 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $143.22, for a total transaction of $13,023,710.70. Following the completion of the transaction, the chief executive officer now directly owns 1,174,006 shares in the company, valued at approximately $168,141,139.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alwyn Dawkins sold 1,909 shares of the firm’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $142.01, for a total transaction of $271,097.09. Following the transaction, the executive vice president now owns 35,822 shares of the company’s stock, valued at $5,087,082.22. The disclosure for this sale can be found here. Insiders sold 113,234 shares of company stock valued at $16,211,414 in the last quarter. Company insiders own 4.00% of the company’s stock.
IT has been the subject of several recent analyst reports. BMO Capital Markets cut shares of Gartner from an “outperform” rating to a “market perform” rating and set a $139.30 target price for the company. in a research note on Wednesday, February 6th. Bank of America restated a “buy” rating and issued a $150.00 target price on shares of Gartner in a research note on Wednesday, February 6th. Cantor Fitzgerald cut shares of Gartner from an “overweight” rating to a “neutral” rating in a research note on Wednesday, February 6th. Robert W. Baird restated a “buy” rating and issued a $156.00 target price on shares of Gartner in a research note on Wednesday, February 6th. Finally, TheStreet upgraded shares of Gartner from a “c+” rating to a “b” rating in a research note on Tuesday, February 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $148.38.
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Gartner Company Profile
Gartner, Inc operates as a research and advisory company. It operates through three segments: Research, Conferences, and Consulting. The Research segment offers objective insights and advice on the priorities of various leaders in a range of functional areas of the enterprise through research and other reports, briefings, proprietary tools, access to analysts, peer networking services, and membership programs that enable clients to make better decisions; and practice and talent management research insights in various business functions, such as human resources, sales, legal, and finance.
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