Gartner, Inc. $IT Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its position in shares of Gartner, Inc. (NYSE:IT) by 55.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 128,473 shares of the information technology services provider’s stock after purchasing an additional 45,653 shares during the period. Teacher Retirement System of Texas owned 0.17% of Gartner worth $33,772,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of IT. Brighton Jones LLC purchased a new stake in shares of Gartner in the 4th quarter valued at approximately $309,000. Sivia Capital Partners LLC purchased a new stake in shares of Gartner during the 2nd quarter valued at approximately $336,000. Fifth Third Bancorp lifted its holdings in Gartner by 11.7% in the second quarter. Fifth Third Bancorp now owns 2,941 shares of the information technology services provider’s stock valued at $1,189,000 after acquiring an additional 308 shares during the last quarter. Accurate Wealth Management LLC grew its position in Gartner by 2.8% in the second quarter. Accurate Wealth Management LLC now owns 1,308 shares of the information technology services provider’s stock worth $507,000 after acquiring an additional 36 shares during the period. Finally, Ballentine Partners LLC grew its position in Gartner by 21.7% in the second quarter. Ballentine Partners LLC now owns 589 shares of the information technology services provider’s stock worth $238,000 after acquiring an additional 105 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Price Performance

IT opened at $231.69 on Friday. The stock’s 50-day moving average price is $238.19 and its 200 day moving average price is $258.63. Gartner, Inc. has a 12-month low of $221.16 and a 12-month high of $584.01. The firm has a market cap of $16.70 billion, a price-to-earnings ratio of 20.32 and a beta of 1.07. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 4.42.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, November 4th. The information technology services provider reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.35. The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.52 billion. Gartner had a net margin of 13.71% and a return on equity of 92.12%. Gartner has set its FY 2025 guidance at 12.650- EPS. As a group, sell-side analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current year.

Insider Buying and Selling

In other Gartner news, Director Stephen G. Pagliuca bought 43,300 shares of Gartner stock in a transaction on Wednesday, December 10th. The shares were bought at an average cost of $229.57 per share, for a total transaction of $9,940,381.00. Following the acquisition, the director directly owned 111,613 shares in the company, valued at $25,622,996.41. This represents a 63.38% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Claire Herkes sold 367 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $231.56, for a total transaction of $84,982.52. Following the completion of the transaction, the executive vice president directly owned 4,074 shares of the company’s stock, valued at $943,375.44. This represents a 8.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

IT has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of Gartner in a research report on Thursday. The Goldman Sachs Group cut their price objective on Gartner from $457.00 to $390.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Morgan Stanley reduced their price objective on shares of Gartner from $281.00 to $275.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 17th. Wells Fargo & Company decreased their target price on shares of Gartner from $231.00 to $218.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 5th. Finally, BMO Capital Markets dropped their price target on shares of Gartner from $272.00 to $254.00 and set a “market perform” rating for the company in a research report on Wednesday, November 5th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Gartner has an average rating of “Hold” and a consensus target price of $309.67.

Gartner Profile

Gartner, Inc is a global research and advisory firm that provides insights, advice and tools for leaders in IT, finance, HR, customer service and other business functions. Founded in 1979 and headquartered in Stamford, Connecticut, Gartner specializes in helping organizations make informed decisions about technology, operations and strategy through a combination of published research, advisory services, consulting, executive programs and events.

The company’s offerings include proprietary research reports, market forecasts, and analytical frameworks that are widely used by technology buyers and vendors.