Kentucky Retirement Systems Sells 317 Shares of Gartner, Inc. (NYSE:IT)

Kentucky Retirement Systems reduced its position in shares of Gartner, Inc. (NYSE:IT) by 5.1% in the first quarter, HoldingsChannel.com reports. The firm owned 5,920 shares of the information technology services provider’s stock after selling 317 shares during the period. Kentucky Retirement Systems’ holdings in Gartner were worth $2,822,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its position in Gartner by 38.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 414,559 shares of the information technology services provider’s stock valued at $197,608,000 after purchasing an additional 114,610 shares during the period. Magnetar Financial LLC bought a new stake in Gartner during the 1st quarter valued at approximately $1,049,000. Toronto Dominion Bank grew its holdings in shares of Gartner by 79.7% during the 1st quarter. Toronto Dominion Bank now owns 86,899 shares of the information technology services provider’s stock worth $41,422,000 after acquiring an additional 38,529 shares during the period. CreativeOne Wealth LLC purchased a new position in shares of Gartner during the 1st quarter worth approximately $222,000. Finally, Vident Advisory LLC lifted its stake in shares of Gartner by 543.2% in the 1st quarter. Vident Advisory LLC now owns 9,178 shares of the information technology services provider’s stock valued at $4,375,000 after purchasing an additional 7,751 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

IT has been the subject of a number of research reports. Morgan Stanley increased their price objective on Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. Robert W. Baird lowered their price target on shares of Gartner from $536.00 to $517.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Gartner in a report on Tuesday, April 16th. They set a “hold” rating and a $507.00 target price for the company. Finally, BMO Capital Markets cut their price target on Gartner from $450.00 to $432.00 and set a “market perform” rating on the stock in a research note on Thursday, May 2nd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Gartner currently has a consensus rating of “Hold” and a consensus price target of $478.50.

Insider Buying and Selling at Gartner

In other news, EVP Yvonne Genovese sold 439 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $456.13, for a total value of $200,241.07. Following the transaction, the executive vice president now owns 1,959 shares in the company, valued at approximately $893,558.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Yvonne Genovese sold 439 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $456.13, for a total value of $200,241.07. Following the completion of the sale, the executive vice president now directly owns 1,959 shares in the company, valued at approximately $893,558.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alwyn Dawkins sold 600 shares of Gartner stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $447.63, for a total value of $268,578.00. Following the transaction, the executive vice president now owns 51,583 shares in the company, valued at $23,090,098.29. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,544 shares of company stock valued at $10,079,813. 3.60% of the stock is owned by company insiders.

Gartner Stock Performance

NYSE:IT traded down $0.40 during mid-day trading on Monday, reaching $470.52. The company’s stock had a trading volume of 97,699 shares, compared to its average volume of 399,517. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.42. The stock has a market cap of $36.53 billion, a P/E ratio of 46.90, a PEG ratio of 4.08 and a beta of 1.33. The firm’s fifty day moving average price is $445.89 and its two-hundred day moving average price is $453.88. Gartner, Inc. has a 12-month low of $323.61 and a 12-month high of $486.54.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.40. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.47 billion. Gartner had a net margin of 13.35% and a return on equity of 141.55%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.88 EPS. On average, equities analysts forecast that Gartner, Inc. will post 11.63 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.