Teacher Retirement System of Texas increased its position in Gartner, Inc. (NYSE:IT) by 102.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,947 shares of the information technology services provider’s stock after purchasing an additional 31,275 shares during the quarter. Teacher Retirement System of Texas’ holdings in Gartner were worth $11,308,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in IT. Parkside Financial Bank & Trust increased its position in Gartner by 340.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 176 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 136 shares during the period. Meeder Asset Management Inc. boosted its holdings in Gartner by 47.6% during the fourth quarter. Meeder Asset Management Inc. now owns 183 shares of the information technology services provider’s stock worth $29,000 after buying an additional 59 shares during the last quarter. Kings Point Capital Management bought a new position in Gartner during the fourth quarter worth about $32,000. Childress Capital Advisors LLC bought a new position in Gartner during the fourth quarter worth about $33,000. Finally, Berman Capital Advisors LLC boosted its holdings in Gartner by 163.5% during the first quarter. Berman Capital Advisors LLC now owns 224 shares of the information technology services provider’s stock worth $40,000 after buying an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 92.11% of the company’s stock.
A number of equities analysts have issued reports on IT shares. TheStreet upgraded Gartner from a “c+” rating to a “b+” rating in a report on Friday, March 12th. Zacks Investment Research upgraded Gartner from a “hold” rating to a “strong-buy” rating and set a $266.00 target price on the stock in a report on Friday, May 7th. Finally, Morgan Stanley lifted their price objective on Gartner from $204.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, May 5th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $203.00.
NYSE IT opened at $230.98 on Friday. The company has a market cap of $19.88 billion, a PE ratio of 58.18, a price-to-earnings-growth ratio of 2.65 and a beta of 1.59. The company has a 50 day moving average price of $213.84. The company has a debt-to-equity ratio of 2.19, a current ratio of 0.71 and a quick ratio of 0.71. Gartner, Inc. has a 52 week low of $114.36 and a 52 week high of $239.09.
Gartner (NYSE:IT) last released its earnings results on Tuesday, May 4th. The information technology services provider reported $2.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.95. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Gartner had a return on equity of 50.82% and a net margin of 8.50%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.20 EPS. Sell-side analysts forecast that Gartner, Inc. will post 6.45 earnings per share for the current fiscal year.
Gartner declared that its board has authorized a stock buyback program on Tuesday, May 4th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 2.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
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 offers objective insights and advice on the priorities of various leaders in a range of functional areas of the enterprise through reports, briefings, proprietary tools, access to research expert, peer networking services, and membership programs that enable clients to drive organizational performance.
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