State of Alaska Department of Revenue Boosts Stake in Gartner, Inc. (NYSE:IT)

State of Alaska Department of Revenue increased its position in shares of Gartner, Inc. (NYSE:IT) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,832 shares of the information technology services provider’s stock after buying an additional 50 shares during the period. State of Alaska Department of Revenue’s holdings in Gartner were worth $473,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of IT. Quadrature Capital Ltd increased its stake in Gartner by 344.1% in the fourth quarter. Quadrature Capital Ltd now owns 16,863 shares of the information technology services provider’s stock worth $1,705,000 after buying an additional 13,066 shares in the last quarter. Teachers Advisors LLC increased its stake in Gartner by 21.1% in the fourth quarter. Teachers Advisors LLC now owns 84,611 shares of the information technology services provider’s stock worth $8,552,000 after buying an additional 14,729 shares in the last quarter. Pensionfund Sabic purchased a new stake in Gartner during the first quarter worth about $1,533,000. Pensionfund DSM Netherlands purchased a new stake in Gartner during the first quarter worth about $3,045,000. Finally, Raymond James Trust N.A. purchased a new stake in Gartner during the first quarter worth about $208,000. 87.56% of the stock is owned by institutional investors.

Gartner, Inc. (NYSE IT) traded down 0.67% during trading on Friday, reaching $119.51. The company had a trading volume of 746,181 shares. The stock has a market capitalization of $10.83 billion, a P/E ratio of 245.40 and a beta of 1.05. Gartner, Inc. has a 12-month low of $84.54 and a 12-month high of $130.02. The stock has a 50 day moving average of $124.99 and a 200-day moving average of $114.61.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, August 8th. The information technology services provider reported $0.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.05. Gartner had a net margin of 1.50% and a return on equity of 103.10%. The company had revenue of $843.73 million during the quarter, compared to the consensus estimate of $892.64 million. During the same period in the prior year, the company earned $0.75 EPS. Gartner’s revenue was up 38.3% on a year-over-year basis. On average, analysts forecast that Gartner, Inc. will post $3.41 earnings per share for the current fiscal year.

Several research firms recently issued reports on IT. Cantor Fitzgerald reaffirmed a “buy” rating and set a $128.00 price target on shares of Gartner in a research note on Monday, May 8th. BMO Capital Markets reaffirmed an “outperform” rating and set a $132.00 price target (down previously from $137.00) on shares of Gartner in a research note on Monday. Royal Bank Of Canada lifted their price target on Gartner from $124.00 to $130.00 and gave the stock a “top pick” rating in a research note on Friday, May 5th. Zacks Investment Research lowered Gartner from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Finally, BidaskClub lowered Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Gartner presently has an average rating of “Buy” and an average price target of $126.89.

In other news, Director Karen E. Dykstra sold 2,500 shares of the stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $120.61, for a total value of $301,525.00. Following the completion of the sale, the director now directly owns 18,223 shares of the company’s stock, valued at $2,197,876.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eugene A. Hall sold 38,800 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $117.86, for a total value of $4,572,968.00. Following the completion of the sale, the chief executive officer now directly owns 1,304,375 shares of the company’s stock, valued at $153,733,637.50. The disclosure for this sale can be found here. Insiders have sold 55,001 shares of company stock valued at $6,488,945 over the last ninety days. Insiders own 4.40% of the company’s stock.

Gartner Company Profile

Gartner, Inc is an information technology research and advisory company. The Company works with clients to research, analyze and interpret the business of information technology (IT), supply chain and marketing within the context of their individual roles. It operates in three segments: Research, Consulting and Events.