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

State of Alaska Department of Revenue reduced its position in Gartner, Inc. (NYSE:IT) by 13.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,450 shares of the information technology services provider’s stock after selling 4,585 shares during the period. State of Alaska Department of Revenue’s holdings in Gartner were worth $14,514,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its holdings in Gartner by 2.8% during the fourth quarter. Allworth Financial LP now owns 807 shares of the information technology services provider’s stock worth $364,000 after buying an additional 22 shares during the period. BSW Wealth Partners lifted its holdings in Gartner by 3.7% during the fourth quarter. BSW Wealth Partners now owns 617 shares of the information technology services provider’s stock worth $278,000 after buying an additional 22 shares during the period. Sheaff Brock Investment Advisors LLC lifted its holdings in Gartner by 0.5% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 4,900 shares of the information technology services provider’s stock worth $2,210,000 after buying an additional 22 shares during the period. AdvisorNet Financial Inc lifted its holdings in Gartner by 59.5% during the fourth quarter. AdvisorNet Financial Inc now owns 67 shares of the information technology services provider’s stock worth $30,000 after buying an additional 25 shares during the period. Finally, Hexagon Capital Partners LLC lifted its holdings in Gartner by 36.2% during the fourth quarter. Hexagon Capital Partners LLC now owns 94 shares of the information technology services provider’s stock worth $42,000 after buying an additional 25 shares during the period. 91.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on IT. Deutsche Bank Aktiengesellschaft began coverage on Gartner in a report on Tuesday, April 16th. They set a “hold” rating and a $507.00 price objective for the company. BMO Capital Markets decreased their price objective on Gartner from $450.00 to $432.00 and set a “market perform” rating for the company in a report on Thursday, May 2nd. Robert W. Baird decreased their price objective on Gartner from $536.00 to $517.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a report on Saturday, June 29th. Finally, UBS Group decreased their price objective on Gartner from $550.00 to $510.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $474.50.

Insiders Place Their Bets

In other Gartner news, EVP Alwyn Dawkins sold 600 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $447.63, for a total transaction of $268,578.00. Following the sale, the executive vice president now directly owns 51,583 shares of the company’s stock, valued at approximately $23,090,098.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director James C. Smith sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $455.20, for a total transaction of $4,552,000.00. Following the sale, the director now directly owns 608,369 shares in the company, valued at approximately $276,929,568.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alwyn Dawkins sold 600 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $447.63, for a total value of $268,578.00. Following the sale, 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. In the last three months, insiders have sold 22,544 shares of company stock valued at $10,079,813. Company insiders own 3.60% of the company’s stock.

Gartner Price Performance

NYSE IT opened at $448.39 on Thursday. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.91 and a quick ratio of 0.91. The stock’s fifty day moving average price is $438.90 and its 200 day moving average price is $451.98. Gartner, Inc. has a 1 year low of $323.61 and a 1 year high of $486.54. The company has a market cap of $34.81 billion, a price-to-earnings ratio of 44.62, a PEG ratio of 3.91 and a beta of 1.33.

Gartner (NYSE:IT) last released its earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.40. Gartner had a return on equity of 141.55% and a net margin of 13.35%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the prior year, the firm earned $2.88 EPS. The firm’s revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts forecast that Gartner, Inc. will post 11.55 earnings per share for the current year.

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.