Board of the Pension Protection Fund Boosts Holdings in Gartner, Inc. (NYSE:IT)

Board of the Pension Protection Fund lifted its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 58.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,900 shares of the information technology services provider's stock after purchasing an additional 700 shares during the period. Board of the Pension Protection Fund's holdings in Gartner were worth $798,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in IT. Lecap Asset Management Ltd. grew its stake in shares of Gartner by 360.5% during the first quarter. Lecap Asset Management Ltd. now owns 3,877 shares of the information technology services provider's stock valued at $1,627,000 after buying an additional 3,035 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Gartner by 1.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 39,831 shares of the information technology services provider's stock valued at $16,719,000 after acquiring an additional 639 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Gartner during the 1st quarter valued at about $920,000. Monte Financial Group LLC bought a new position in Gartner during the 1st quarter worth approximately $778,000. Finally, Praxis Investment Management Inc. increased its stake in Gartner by 10.9% in the 1st quarter. Praxis Investment Management Inc. now owns 2,230 shares of the information technology services provider's stock worth $936,000 after purchasing an additional 220 shares during the period. Hedge funds and other institutional investors own 91.51% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on IT. UBS Group dropped their price objective on Gartner from $525.00 to $500.00 and set a "buy" rating for the company in a research note on Wednesday, June 18th. The Goldman Sachs Group lowered their price target on shares of Gartner from $622.00 to $535.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Barclays cut their price target on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Wells Fargo & Company decreased their price objective on shares of Gartner from $401.00 to $400.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. Finally, 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Gartner currently has a consensus rating of "Hold" and an average price target of $515.89.

Insider Buying and Selling

In related news, EVP Akhil Jain sold 625 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $450.00, for a total transaction of $281,250.00. Following the sale, the executive vice president now 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Craig Safian sold 3,415 shares of the firm's 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 of the company's stock, valued at $35,063,741.30. This represents a 4.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,426 shares of company stock valued at $2,430,327 over the last ninety days. Company insiders own 2.30% of the company's stock.

Gartner Trading Down 0.5%

Shares of NYSE IT traded down $1.92 during midday trading on Friday, hitting $402.68. 1,040,422 shares of the company traded hands, compared to its average volume of 496,726. Gartner, Inc. has a 12-month low of $366.05 and a 12-month high of $584.01. The firm has a market cap of $30.99 billion, a P/E ratio of 25.06, a P/E/G ratio of 2.61 and a beta of 1.23. The stock has a 50-day moving average price of $423.56 and a 200 day moving average price of $459.67. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.09 and a current ratio of 1.09.

Gartner (NYSE:IT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.26. Gartner had a return on equity of 96.70% and a net margin of 19.82%. The business had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.53 billion. During the same period in the previous year, the firm posted $2.93 EPS. The business's revenue was up 4.2% on a year-over-year basis. As a group, analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current year.

Gartner Profile

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.