Teacher Retirement System of Texas Lowers Stock Holdings in Gartner, Inc. $IT

Teacher Retirement System of Texas trimmed its holdings in shares of Gartner, Inc. (NYSE:IT) by 3.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 82,820 shares of the information technology services provider’s stock after selling 2,665 shares during the period. Teacher Retirement System of Texas owned approximately 0.11% of Gartner worth $33,478,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Ransom Advisory Ltd purchased a new position in shares of Gartner during the first quarter valued at approximately $29,000. Olde Wealth Management LLC purchased a new position in shares of Gartner during the first quarter valued at approximately $42,000. Chilton Capital Management LLC purchased a new position in shares of Gartner during the second quarter valued at approximately $47,000. GW&K Investment Management LLC lifted its holdings in shares of Gartner by 210.8% during the first quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 78 shares during the last quarter. Finally, Wayfinding Financial LLC purchased a new position in shares of Gartner during the first quarter valued at approximately $55,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP John J. Rinello sold 105 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $249.71, for a total transaction of $26,219.55. Following the completion of the sale, the senior vice president owned 3,225 shares of the company’s stock, valued at $805,314.75. The trade was a 3.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jose M. Gutierrez acquired 417 shares of the business’s stock in a transaction dated Monday, August 18th. The shares were acquired at an average cost of $239.80 per share, with a total value of $99,996.60. Following the transaction, the director owned 2,080 shares in the company, valued at approximately $498,784. This trade represents a 25.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.60% of the stock is currently owned by insiders.

Gartner Price Performance

Shares of IT opened at $255.75 on Tuesday. The firm has a market cap of $19.37 billion, a PE ratio of 15.74 and a beta of 1.20. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.61. The firm has a fifty day simple moving average of $249.06 and a two-hundred day simple moving average of $338.54. Gartner, Inc. has a 1-year low of $223.65 and a 1-year high of $584.01.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share for the quarter, beating analysts’ consensus estimates of $3.38 by $0.15. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business earned $3.22 EPS. Gartner has set its FY 2025 guidance at 11.750- EPS. On average, equities analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on IT shares. Morgan Stanley set a $307.00 price objective on shares of Gartner in a report on Monday, October 13th. Barclays set a $270.00 price objective on shares of Gartner and gave the stock an “equal weight” rating in a report on Wednesday, October 22nd. BMO Capital Markets decreased their price objective 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. Weiss Ratings lowered shares of Gartner from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday. Finally, Truist Financial started coverage on shares of Gartner in a report on Thursday, October 16th. They issued a “buy” rating and a $300.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Gartner presently has a consensus rating of “Hold” and a consensus price target of $346.20.

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.