California State Teachers Retirement System Reduces Holdings in Gartner, Inc. (NYSE:IT)

California State Teachers Retirement System lessened its stake in Gartner, Inc. (NYSE:IT - Free Report) by 6.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,192 shares of the information technology services provider's stock after selling 8,174 shares during the quarter. California State Teachers Retirement System owned 0.15% of Gartner worth $56,776,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Howard Capital Management Inc. increased its holdings in shares of Gartner by 4.4% in the 4th quarter. Howard Capital Management Inc. now owns 452 shares of the information technology services provider's stock valued at $219,000 after purchasing an additional 19 shares in the last quarter. Gilbert & Cook Inc. increased its holdings in Gartner by 1.5% during the 4th quarter. Gilbert & Cook Inc. now owns 1,364 shares of the information technology services provider's stock valued at $661,000 after acquiring an additional 20 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its holdings in Gartner by 2.5% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 826 shares of the information technology services provider's stock valued at $400,000 after acquiring an additional 20 shares in the last quarter. Sompo Asset Management Co. Ltd. increased its holdings in Gartner by 1.7% during the 4th quarter. Sompo Asset Management Co. Ltd. now owns 1,210 shares of the information technology services provider's stock valued at $586,000 after acquiring an additional 20 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in Gartner by 2.9% during the 4th quarter. Parallel Advisors LLC now owns 737 shares of the information technology services provider's stock valued at $357,000 after acquiring an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Wall Street Analysts Forecast Growth

IT has been the subject of several recent research reports. Wall Street Zen downgraded shares of Gartner from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Robert W. Baird dropped their target price on shares of Gartner from $605.00 to $557.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Wells Fargo & Company dropped their target price on shares of Gartner from $401.00 to $400.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. UBS Group raised their price target on shares of Gartner from $500.00 to $525.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group decreased their price target on shares of Gartner from $622.00 to $535.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Gartner currently has an average rating of "Hold" and an average target price of $518.67.

Insider Buying and Selling

In other Gartner news, EVP Akhil Jain sold 625 shares of Gartner stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $450.00, for a total transaction of $281,250.00. Following the transaction, the executive vice president now directly owns 6,548 shares of the company's stock, valued at $2,946,600. The trade was a 8.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Craig Safian sold 3,415 shares of Gartner stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $450.17, for a total transaction of $1,537,330.55. Following the transaction, the chief financial officer now directly owns 77,890 shares in the company, valued at approximately $35,063,741.30. This trade represents a 4.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,426 shares of company stock valued at $2,430,327. Insiders own 2.30% of the company's stock.

Gartner Trading Up 0.2%

Shares of IT traded up $0.98 during mid-day trading on Friday, hitting $436.55. The company had a trading volume of 2,049,055 shares, compared to its average volume of 465,241. The business's 50-day simple moving average is $420.60 and its 200-day simple moving average is $474.09. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. Gartner, Inc. has a 1-year low of $366.05 and a 1-year high of $584.01. The stock has a market cap of $33.60 billion, a PE ratio of 27.23, a P/E/G ratio of 3.30 and a beta of 1.24.

Gartner (NYSE:IT - Get Free Report) last released its earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.26. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The business had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.53 billion. During the same period last year, the company earned $2.93 earnings per share. The company's quarterly revenue was up 4.2% on a year-over-year basis. Sell-side analysts forecast that Gartner, Inc. will post 12.5 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.