Gartner, Inc. (NYSE:IT) Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its position in Gartner, Inc. (NYSE:IT) by 3.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,656 shares of the information technology services provider’s stock after purchasing an additional 1,488 shares during the period. Illinois Municipal Retirement Fund owned about 0.07% of Gartner worth $22,748,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of IT. Frazier Financial Advisors LLC purchased a new position in Gartner during the fourth quarter worth about $27,000. DSM Capital Partners LLC acquired a new position in shares of Gartner during the 4th quarter valued at about $32,000. Central Pacific Bank Trust Division purchased a new position in shares of Gartner during the 1st quarter worth about $36,000. Crewe Advisors LLC boosted its position in shares of Gartner by 223.3% in the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock worth $44,000 after acquiring an additional 67 shares during the last quarter. Finally, J.Safra Asset Management Corp grew its holdings in Gartner by 58.7% in the first quarter. J.Safra Asset Management Corp now owns 146 shares of the information technology services provider’s stock valued at $70,000 after purchasing an additional 54 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Gartner Stock Performance

Shares of IT stock traded up $0.22 on Friday, hitting $483.68. 356,677 shares of the stock traded hands, compared to its average volume of 391,639. The company’s fifty day moving average is $471.55 and its 200 day moving average is $458.93. Gartner, Inc. has a 1-year low of $323.61 and a 1-year high of $509.15. The company has a market capitalization of $37.55 billion, a PE ratio of 48.13, a PEG ratio of 3.83 and a beta of 1.33. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.90.

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on IT shares. Robert W. Baird lifted their price target on shares of Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. UBS Group upped their price target on shares of Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets raised their price objective on Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company raised shares of Gartner to a “strong sell” rating in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Gartner currently has a consensus rating of “Hold” and an average price target of $521.00.

Insider Buying and Selling at Gartner

In other news, Director Karen E. Dykstra sold 1,683 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $465.55, for a total transaction of $783,520.65. Following the completion of the transaction, the director now directly owns 19,825 shares of the company’s stock, valued at $9,229,528.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Alwyn Dawkins sold 1,000 shares of Gartner stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $505.49, for a total value of $505,490.00. Following the sale, the executive vice president now directly owns 56,650 shares in the company, valued at approximately $28,636,008.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Karen E. Dykstra sold 1,683 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $465.55, for a total transaction of $783,520.65. Following the completion of the transaction, the director now owns 19,825 shares of the company’s stock, valued at approximately $9,229,528.75. The disclosure for this sale can be found here. Insiders sold a total of 27,998 shares of company stock worth $13,834,898 over the last ninety days. Company insiders own 3.60% of the company’s stock.

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.