Texas Permanent School Fund Corp Sells 3,220 Shares of Gartner, Inc. (NYSE:IT)

Texas Permanent School Fund Corp trimmed its position in Gartner, Inc. (NYSE:IT) by 20.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 12,893 shares of the information technology services provider’s stock after selling 3,220 shares during the period. Texas Permanent School Fund Corp’s holdings in Gartner were worth $5,790,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Choreo LLC acquired a new stake in Gartner during the 2nd quarter worth about $722,000. Prudential PLC grew its stake in shares of Gartner by 27.0% in the 2nd quarter. Prudential PLC now owns 10,875 shares of the information technology services provider’s stock valued at $4,884,000 after buying an additional 2,312 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Gartner in the 2nd quarter valued at about $143,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund grew its stake in shares of Gartner by 87.4% in the 2nd quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 36,057 shares of the information technology services provider’s stock valued at $16,192,000 after buying an additional 16,818 shares during the period. Finally, Varma Mutual Pension Insurance Co acquired a new stake in shares of Gartner in the 2nd quarter valued at about $9,970,000. 91.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IT has been the subject of several research reports. UBS Group raised their target price on Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company upgraded Gartner to a “strong sell” rating in a research note on Tuesday, August 13th. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Morgan Stanley lifted their price target on Gartner from $440.00 to $470.00 and gave the company an “equal weight” rating in a research note on Thursday, July 11th. Finally, Robert W. Baird lifted their price target on Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $521.00.

Gartner Price Performance

Gartner stock opened at $505.67 on Friday. Gartner, Inc. has a 52 week low of $323.61 and a 52 week high of $509.15. The company’s 50 day moving average price is $474.68 and its two-hundred day moving average price is $459.99. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 3.80. The stock has a market cap of $39.26 billion, a P/E ratio of 50.32, a P/E/G ratio of 3.77 and a beta of 1.32.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, topping the consensus estimate of $3.02 by $0.20. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter last year, the firm earned $2.85 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities analysts predict that Gartner, Inc. will post 11.59 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Yvonne Genovese sold 443 shares of Gartner stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $483.62, for a total value of $214,243.66. Following the completion of the transaction, the executive vice president now directly owns 1,959 shares in the company, valued at approximately $947,411.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director James C. Smith sold 2,128 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $500.15, for a total transaction of $1,064,319.20. Following the completion of the transaction, the director now directly owns 572,090 shares in the company, valued at approximately $286,130,813.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Yvonne Genovese sold 443 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $483.62, for a total transaction of $214,243.66. Following the transaction, the executive vice president now owns 1,959 shares of the company’s stock, valued at $947,411.58. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,626 shares of company stock valued at $15,145,217. 3.60% of the stock is owned by company insiders.

Gartner 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.