Teacher Retirement System of Texas Sells 921 Shares of Gartner, Inc. (NYSE:IT)

Teacher Retirement System of Texas lessened its position in Gartner, Inc. (NYSE:IT - Free Report) by 1.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,485 shares of the information technology services provider's stock after selling 921 shares during the period. Teacher Retirement System of Texas owned about 0.11% of Gartner worth $35,881,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of IT. Vanguard Group Inc. lifted its stake in shares of Gartner by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 9,268,639 shares of the information technology services provider's stock worth $4,490,378,000 after buying an additional 100,917 shares during the last quarter. FMR LLC lifted its stake in shares of Gartner by 8.6% during the 4th quarter. FMR LLC now owns 2,822,122 shares of the information technology services provider's stock worth $1,367,233,000 after buying an additional 223,087 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Gartner by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 2,063,577 shares of the information technology services provider's stock worth $998,400,000 after buying an additional 45,219 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Gartner by 12.7% during the 4th quarter. Wellington Management Group LLP now owns 1,662,005 shares of the information technology services provider's stock worth $805,192,000 after buying an additional 187,854 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Gartner by 6.7% during the 4th quarter. Invesco Ltd. now owns 955,134 shares of the information technology services provider's stock worth $462,734,000 after buying an additional 60,306 shares during the last quarter. Institutional investors own 91.51% of the company's stock.

Analysts Set New Price Targets

IT has been the subject of several analyst reports. Robert W. Baird dropped their price objective on shares of Gartner from $605.00 to $557.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Wells Fargo & Company dropped their price objective on shares of Gartner from $401.00 to $400.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Wall Street Zen cut shares of Gartner from a "buy" rating to a "hold" rating in a research note on Friday, March 21st. UBS Group dropped their price objective on shares of Gartner from $525.00 to $500.00 and set a "buy" rating for the company in a research note on Wednesday, June 18th. Finally, Barclays dropped their price objective on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Gartner has a consensus rating of "Hold" and a consensus price target of $515.89.

Insider Buying and Selling at Gartner

In related news, EVP William James Wartinbee III sold 538 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $449.09, for a total transaction of $241,610.42. Following the completion of the transaction, the executive vice president directly owned 7,965 shares in the company, valued at $3,577,001.85. This represents a 6.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Akhil Jain sold 625 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $450.00, for a total transaction of $281,250.00. Following the transaction, the executive vice president owned 6,548 shares of the company's stock, valued at approximately $2,946,600. This represents a 8.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,426 shares of company stock worth $2,430,327 over the last 90 days. 3.60% of the stock is owned by corporate insiders.

Gartner Price Performance

Shares of NYSE:IT traded down $1.20 during midday trading on Monday, hitting $399.08. The stock had a trading volume of 786,410 shares, compared to its average volume of 506,984. The company's 50-day moving average price is $422.65 and its 200-day moving average price is $454.22. The company has a market capitalization of $30.72 billion, a P/E ratio of 24.83, a price-to-earnings-growth ratio of 2.60 and a beta of 1.19. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.64. Gartner, Inc. has a fifty-two week low of $366.05 and a fifty-two week high of $584.01.

Gartner (NYSE:IT - Get Free Report) last issued its earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, beating the consensus estimate of $2.72 by $0.26. The company had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.53 billion. Gartner had a net margin of 19.82% and a return on equity of 96.70%. The business's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.93 EPS. As a group, equities research analysts predict 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.