State of New Jersey Common Pension Fund D Cuts Position in Gartner, Inc. $IT

Key Points

• The State of New Jersey Common Pension Fund D has reduced its holdings in Gartner, Inc. by 10.8%, now owning 24,739 shares valued at approximately $10.38 million as of its latest SEC filing.
• Multiple institutional investors have significantly increased their stakes in Gartner, including GAMMA Investing LLC, which raised its position by 40,841.0% in the first quarter.
• Analysts have recently lowered price targets for Gartner, with BMO Capital Markets reducing its target from $409 to $272 while maintaining a "market perform" rating.

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 10.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,739 shares of the information technology services provider's stock after selling 3,004 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Gartner were worth $10,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in Gartner by 40,841.0% during the 1st quarter. GAMMA Investing LLC now owns 499,071 shares of the information technology services provider's stock worth $209,480,000 after buying an additional 497,852 shares in the last quarter. Nuveen LLC acquired a new position in Gartner in the first quarter valued at approximately $128,318,000. BNP Paribas Financial Markets raised its stake in shares of Gartner by 184.6% in the fourth quarter. BNP Paribas Financial Markets now owns 390,472 shares of the information technology services provider's stock valued at $189,172,000 after acquiring an additional 253,288 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Gartner by 20.5% in the first quarter. JPMorgan Chase & Co. now owns 1,245,563 shares of the information technology services provider's stock valued at $522,813,000 after acquiring an additional 211,842 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Gartner by 178.0% in the fourth quarter. Millennium Management LLC now owns 297,277 shares of the information technology services provider's stock valued at $144,022,000 after buying an additional 190,326 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IT has been the topic of several research reports. BMO Capital Markets dropped their price objective on Gartner from $409.00 to $272.00 and set a "market perform" rating on the stock in a report on Wednesday, August 6th. Barclays reduced their price objective on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating for the company in a research report on Wednesday, August 6th. UBS Group reiterated a "neutral" rating and set a $270.00 price target (down from $480.00) on shares of Gartner in a research report on Wednesday, August 6th. Morgan Stanley dropped their price objective on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 6th. Finally, The Goldman Sachs Group dropped their price objective on shares of Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Gartner has a consensus rating of "Hold" and a consensus target price of $369.25.

Gartner Price Performance

NYSE IT opened at $238.75 on Monday. Gartner, Inc. has a 12 month low of $223.65 and a 12 month high of $584.01. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $18.38 billion, a PE ratio of 14.69 and a beta of 1.19. The company's 50 day simple moving average is $356.35 and its 200 day simple moving average is $417.02.

Gartner (NYSE:IT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.38 by $0.15. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the business posted $3.22 earnings per share. The firm's quarterly revenue was up 5.7% compared to the same quarter last year. As a group, equities research analysts forecast that Gartner, Inc. will post 12.5 EPS for the current fiscal 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.

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