Kentucky Retirement Systems Insurance Trust Fund Purchases Shares of 2,192 Gartner, Inc. (NYSE:IT)

Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Gartner, Inc. (NYSE:IT - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,192 shares of the information technology services provider's stock, valued at approximately $920,000.

Several other hedge funds also recently made changes to their positions in the company. Monte Financial Group LLC purchased a new position in Gartner during the first quarter valued at $778,000. Praxis Investment Management Inc. boosted its stake in Gartner by 10.9% during the first quarter. Praxis Investment Management Inc. now owns 2,230 shares of the information technology services provider's stock worth $936,000 after acquiring an additional 220 shares in the last quarter. GAM Holding AG grew its holdings in Gartner by 30.4% in the first quarter. GAM Holding AG now owns 6,592 shares of the information technology services provider's stock worth $2,767,000 after purchasing an additional 1,535 shares during the period. Institute for Wealth Management LLC. increased its stake in shares of Gartner by 12.2% during the first quarter. Institute for Wealth Management LLC. now owns 3,024 shares of the information technology services provider's stock valued at $1,269,000 after purchasing an additional 328 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Gartner by 1.2% during the first quarter. State of Alaska Department of Revenue now owns 16,255 shares of the information technology services provider's stock valued at $6,822,000 after purchasing an additional 200 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on IT shares. UBS Group dropped their target price on Gartner from $525.00 to $500.00 and set a "buy" rating on the stock in a report on Wednesday, June 18th. Wells Fargo & Company cut 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. The Goldman Sachs Group decreased their target price 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. Wall Street Zen cut shares of Gartner from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Finally, Robert W. Baird reduced their price target on shares of Gartner from $605.00 to $557.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. 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. According to data from MarketBeat.com, Gartner currently has a consensus rating of "Hold" and a consensus price target of $515.89.

Insider Transactions at Gartner

In other news, CFO Craig Safian sold 3,415 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $450.17, for a total value of $1,537,330.55. Following the transaction, the chief financial officer now directly owns 77,890 shares in the company, valued at $35,063,741.30. The trade was a 4.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John J. Rinello sold 109 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $436.35, for a total value of $47,562.15. Following the sale, the senior vice president now owns 3,280 shares of the company's stock, valued at $1,431,228. This represents a 3.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,426 shares of company stock worth $2,430,327 in the last three months. Corporate insiders own 3.60% of the company's stock.

Gartner Stock Performance

Shares of IT traded up $2.07 during trading hours on Tuesday, hitting $400.57. The stock had a trading volume of 935,647 shares, compared to its average volume of 489,396. Gartner, Inc. has a 12 month low of $366.05 and a 12 month high of $584.01. The stock has a fifty day moving average price of $423.57 and a 200 day moving average price of $461.25. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $30.83 billion, a PE ratio of 24.93, a PEG ratio of 2.55 and a beta of 1.23.

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