Teacher Retirement System of Texas Sells 2,665 Shares of Gartner, Inc. $IT

Teacher Retirement System of Texas decreased its holdings in shares of Gartner, Inc. (NYSE:IT) by 3.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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’ holdings in Gartner were worth $33,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Gartner by 22.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 34,964 shares of the information technology services provider’s stock valued at $13,995,000 after acquiring an additional 6,352 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Gartner by 10.2% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,433 shares of the information technology services provider’s stock worth $5,026,000 after buying an additional 1,150 shares during the period. Pallas Capital Advisors LLC boosted its holdings in Gartner by 154.4% in the 2nd quarter. Pallas Capital Advisors LLC now owns 3,445 shares of the information technology services provider’s stock worth $1,393,000 after buying an additional 2,091 shares during the period. Bright Rock Capital Management LLC bought a new position in Gartner in the 2nd quarter worth $1,859,000. Finally, Abacus FCF Advisors LLC boosted its holdings in Gartner by 534.6% in the 2nd quarter. Abacus FCF Advisors LLC now owns 36,889 shares of the information technology services provider’s stock worth $14,911,000 after buying an additional 31,076 shares during the period. Institutional investors own 91.51% of the company’s stock.

Gartner Stock Up 2.2%

Shares of NYSE IT opened at $255.75 on Tuesday. The firm’s 50-day moving average price is $249.06 and its 200-day moving average price is $338.54. 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 stock has a market capitalization of $19.37 billion, a price-to-earnings ratio of 15.74 and a beta of 1.20. Gartner, Inc. has a 12-month low of $223.65 and a 12-month 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 (EPS) for the quarter, beating the consensus estimate of $3.38 by $0.15. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company earned $3.22 EPS. Gartner has set its FY 2025 guidance at 11.750- EPS. On average, equities research analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insider Activity

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

Analyst Ratings Changes

IT has been the subject of several recent analyst reports. UBS Group upped their target price on shares of Gartner from $270.00 to $280.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Barclays set a $270.00 target price on shares of Gartner and gave the stock an “equal weight” rating in a report on Wednesday, October 22nd. Truist Financial began coverage on shares of Gartner in a research note on Thursday, October 16th. They issued a “buy” rating and a $300.00 price target on the stock. Wolfe Research began coverage on shares of Gartner in a research note on Wednesday, September 3rd. They issued a “peer perform” rating on the stock. Finally, Morgan Stanley set a $307.00 price target on shares of Gartner in a research note on Monday, October 13th. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently 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.