Gartner Inc (NYSE:IT) Shares Bought by State Board of Administration of Florida Retirement System

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State Board of Administration of Florida Retirement System grew its stake in shares of Gartner Inc (NYSE:IT) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 123,533 shares of the information technology services provider’s stock after acquiring an additional 1,620 shares during the period. State Board of Administration of Florida Retirement System owned about 0.14% of Gartner worth $19,881,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Hartford Investment Management Co. grew its stake in Gartner by 0.8% in the 2nd quarter. Hartford Investment Management Co. now owns 9,773 shares of the information technology services provider’s stock worth $1,573,000 after acquiring an additional 79 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in Gartner by 6.7% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,435 shares of the information technology services provider’s stock worth $217,000 after acquiring an additional 90 shares during the period. Steward Partners Investment Advisory LLC grew its stake in Gartner by 7.1% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,707 shares of the information technology services provider’s stock worth $274,000 after acquiring an additional 113 shares during the period. Piedmont Investment Advisors Inc. grew its stake in Gartner by 1.7% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 7,883 shares of the information technology services provider’s stock worth $1,196,000 after acquiring an additional 133 shares during the period. Finally, Nordea Investment Management AB grew its stake in Gartner by 2.9% in the 1st quarter. Nordea Investment Management AB now owns 4,707 shares of the information technology services provider’s stock worth $714,000 after acquiring an additional 133 shares during the period. 98.22% of the stock is owned by institutional investors and hedge funds.

Shares of IT opened at $129.43 on Friday. The firm has a market cap of $11.96 billion, a PE ratio of 34.15, a price-to-earnings-growth ratio of 2.88 and a beta of 1.24. The company’s fifty day moving average is $150.27 and its two-hundred day moving average is $151.63. Gartner Inc has a fifty-two week low of $120.89 and a fifty-two week high of $171.77. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 2.93.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $1.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.27. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Gartner had a net margin of 5.43% and a return on equity of 41.29%. Gartner’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the business earned $1.03 EPS. As a group, equities research analysts anticipate that Gartner Inc will post 3.53 earnings per share for the current year.

Several research firms have commented on IT. Cantor Fitzgerald lifted their target price on shares of Gartner from $141.00 to $152.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. BMO Capital Markets lowered their target price on shares of Gartner to $142.00 and set a “market perform” rating for the company in a research note on Wednesday, July 31st. Morgan Stanley lowered their target price on shares of Gartner from $156.00 to $155.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. ValuEngine cut shares of Gartner from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research raised shares of Gartner from a “sell” rating to a “hold” rating in a research note on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $151.67.

In other Gartner news, EVP Joseph P. Beck sold 4,032 shares of Gartner stock in a transaction on Friday, June 7th. The shares were sold at an average price of $157.29, for a total value of $634,193.28. Following the transaction, the executive vice president now owns 8,364 shares in the company, valued at approximately $1,315,573.56. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Karen E. Dykstra sold 1,812 shares of Gartner stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $150.22, for a total transaction of $272,198.64. Following the transaction, the director now owns 20,698 shares in the company, valued at approximately $3,109,253.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,944 shares of company stock worth $1,067,058. 4.00% of the stock is owned by company insiders.

About Gartner

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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Institutional Ownership by Quarter for Gartner (NYSE:IT)

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