State of Tennessee Department of Treasury Buys 11,626 Shares of Gartner, Inc. (NYSE:IT)

State of Tennessee Department of Treasury raised its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 111.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,066 shares of the information technology services provider's stock after purchasing an additional 11,626 shares during the quarter. State of Tennessee Department of Treasury's holdings in Gartner were worth $10,690,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in IT. Principal Financial Group Inc. boosted its position in shares of Gartner by 5.5% during the third quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider's stock valued at $1,014,099,000 after buying an additional 103,814 shares during the last quarter. Barclays PLC increased its stake in Gartner by 8.6% in the 3rd quarter. Barclays PLC now owns 166,787 shares of the information technology services provider's stock valued at $84,520,000 after buying an additional 13,205 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Gartner during the 3rd quarter worth approximately $1,216,000. Pine Valley Investments Ltd Liability Co boosted its stake in shares of Gartner by 15.6% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 17,146 shares of the information technology services provider's stock worth $8,689,000 after buying an additional 2,313 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Gartner in the third quarter valued at about $897,000. 91.51% of the stock is owned by institutional investors.

Insider Activity at Gartner

In other news, SVP John J. Rinello sold 90 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the sale, the senior vice president now directly owns 3,259 shares in the company, valued at $1,728,932.09. The trade was a 2.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eileen Serra sold 1,200 shares of the company's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $489.77, for a total value of $587,724.00. Following the sale, the director now owns 1,627 shares in the company, valued at approximately $796,855.79. This trade represents a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

IT has been the topic of a number of recent analyst reports. Robert W. Baird lowered their price target on shares of Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Wells Fargo & Company reduced their price target on shares of Gartner from $488.00 to $401.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 9th. StockNews.com lowered Gartner from a "buy" rating to a "hold" rating in a research note on Friday, March 21st. Morgan Stanley dropped their price target on shares of Gartner from $564.00 to $555.00 and set an "equal weight" rating for the company in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Gartner in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $513.63.

Gartner Trading Up 1.2 %

IT stock traded up $4.96 during trading on Tuesday, reaching $420.77. The company had a trading volume of 86,291 shares, compared to its average volume of 452,867. The business has a 50 day moving average of $435.86 and a 200 day moving average of $488.09. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market cap of $32.32 billion, a P/E ratio of 26.25, a PEG ratio of 3.30 and a beta of 1.26. Gartner, Inc. has a 52 week low of $366.05 and a 52 week high of $584.01.

Gartner (NYSE:IT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, topping analysts' consensus estimates of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The business had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.69 billion. During the same quarter in the prior year, the company earned $3.04 earnings per share. The business's revenue was up 8.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Gartner Company 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.