State Board of Administration of Florida Retirement System Sells 3,043 Shares of Gartner Inc (IT)

State Board of Administration of Florida Retirement System decreased its position in shares of Gartner Inc (NYSE:IT) by 2.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 124,220 shares of the information technology services provider’s stock after selling 3,043 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Gartner were worth $19,689,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IT. IFP Advisors Inc raised its position in Gartner by 135.7% during the 3rd quarter. IFP Advisors Inc now owns 641 shares of the information technology services provider’s stock worth $102,000 after purchasing an additional 369 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in Gartner during the 2nd quarter worth $137,000. Rehmann Capital Advisory Group raised its position in Gartner by 122.7% during the 2nd quarter. Rehmann Capital Advisory Group now owns 1,040 shares of the information technology services provider’s stock worth $138,000 after purchasing an additional 573 shares during the last quarter. Federated Investors Inc. PA bought a new position in Gartner during the 2nd quarter worth $153,000. Finally, Checchi Capital Advisers LLC bought a new position in Gartner during the 3rd quarter worth $223,000.

In related news, EVP Mr Thomas Christopher sold 1,400 shares of the business’s stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $149.81, for a total value of $209,734.00. Following the completion of the sale, the executive vice president now directly owns 18,738 shares of the company’s stock, valued at approximately $2,807,139.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alwyn Dawkins sold 6,545 shares of the business’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $146.89, for a total value of $961,395.05. Following the completion of the sale, the executive vice president now directly owns 32,259 shares of the company’s stock, valued at $4,738,524.51. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,311 shares of company stock valued at $1,804,424. Corporate insiders own 4.30% of the company’s stock.

Several research analysts recently issued reports on IT shares. Morgan Stanley raised their target price on Gartner from $133.00 to $140.00 and gave the stock a “$140.13” rating in a research report on Wednesday, July 18th. ValuEngine lowered Gartner from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Piper Jaffray Companies reissued a “hold” rating and issued a $116.00 price objective on shares of Gartner in a research report on Thursday, August 2nd. TheStreet raised Gartner from a “c” rating to a “b” rating in a research report on Wednesday, August 1st. Finally, Barclays reissued a “buy” rating and issued a $155.00 price objective on shares of Gartner in a research report on Sunday, August 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $147.10.

IT stock opened at $147.64 on Friday. Gartner Inc has a 1-year low of $111.57 and a 1-year high of $161.21. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market capitalization of $13.22 billion, a PE ratio of 38.61, a price-to-earnings-growth ratio of 2.62 and a beta of 1.23.

Gartner (NYSE:IT) last posted its quarterly earnings data on Thursday, November 1st. The information technology services provider reported $0.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.23. Gartner had a return on equity of 36.22% and a net margin of 3.74%. The firm had revenue of $922.00 million during the quarter, compared to analyst estimates of $919.96 million. During the same period last year, the company posted $0.65 EPS. The business’s quarterly revenue was up 11.4% on a year-over-year basis. Analysts expect that Gartner Inc will post 3.67 earnings per share for the current year.

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About Gartner

Gartner, Inc operates as a research and advisory company. It operates through four segments: Research, Consulting, Events, and Talent Assessment & Other. 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 our 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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