Public Sector Pension Investment Board Grows Position in Gartner, Inc. (NYSE:IT)

Public Sector Pension Investment Board boosted its position in Gartner, Inc. (NYSE:IT) by 2.4% in the first quarter, HoldingsChannel.com reports. The firm owned 27,828 shares of the information technology services provider’s stock after acquiring an additional 641 shares during the period. Public Sector Pension Investment Board’s holdings in Gartner were worth $11,681,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Gartner by 1.8% in the first quarter. Vanguard Group Inc. now owns 9,433,449 shares of the information technology services provider’s stock worth $3,959,596,000 after purchasing an additional 164,810 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Gartner by 20.5% in the first quarter. JPMorgan Chase & Co. now owns 1,245,563 shares of the information technology services provider’s stock worth $522,813,000 after purchasing an additional 211,842 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Gartner by 9.4% in the first quarter. Goldman Sachs Group Inc. now owns 956,223 shares of the information technology services provider’s stock worth $401,365,000 after purchasing an additional 82,307 shares in the last quarter. Northern Trust Corp raised its holdings in Gartner by 10.9% in the fourth quarter. Northern Trust Corp now owns 906,833 shares of the information technology services provider’s stock worth $439,333,000 after purchasing an additional 88,800 shares in the last quarter. Finally, Sustainable Growth Advisers LP raised its holdings in Gartner by 26.3% in the first quarter. Sustainable Growth Advisers LP now owns 676,325 shares of the information technology services provider’s stock worth $283,881,000 after purchasing an additional 140,898 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Akhil Jain sold 625 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $450.00, for a total value of $281,250.00. Following the transaction, the executive vice president owned 6,548 shares in the company, valued at approximately $2,946,600. This represents a 8.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.60% of the company’s stock.

Gartner Stock Performance

IT opened at $229.19 on Wednesday. Gartner, Inc. has a 52-week low of $223.65 and a 52-week high of $584.01. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61. The company has a market cap of $17.64 billion, a P/E ratio of 14.10 and a beta of 1.19. The firm’s 50-day moving average price is $367.24 and its 200-day moving average price is $424.13.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.38 by $0.15. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the company posted $3.22 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, equities analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Analyst Ratings Changes

IT has been the subject of a number of recent research reports. Morgan Stanley reduced their target price on shares of Gartner from $455.00 to $322.00 and set an “equal weight” rating for the company in a report on Wednesday, August 6th. BMO Capital Markets reduced their target price on shares of Gartner from $409.00 to $272.00 and set a “market perform” rating for the company in a report on Wednesday, August 6th. UBS Group reiterated a “neutral” rating and issued a $270.00 target price (down from $480.00) on shares of Gartner in a report on Wednesday, August 6th. Wells Fargo & Company reduced their target price on shares of Gartner from $345.00 to $225.00 and set an “underweight” rating for the company in a report on Wednesday, August 6th. Finally, The Goldman Sachs Group cut their price objective on shares of Gartner from $535.00 to $457.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $369.25.

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.