Millennium Management LLC Grows Stock Holdings in Gartner, Inc. (NYSE:IT)

Millennium Management LLC increased its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 178.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 297,277 shares of the information technology services provider's stock after purchasing an additional 190,326 shares during the quarter. Millennium Management LLC owned 0.39% of Gartner worth $144,022,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of IT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Gartner by 2.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,106 shares of the information technology services provider's stock worth $6,834,000 after buying an additional 392 shares in the last quarter. Lazard Asset Management LLC increased its stake in Gartner by 3,448.0% during the 4th quarter. Lazard Asset Management LLC now owns 13,021 shares of the information technology services provider's stock worth $6,308,000 after buying an additional 12,654 shares in the last quarter. Jefferies Financial Group Inc. increased its stake in Gartner by 982.9% during the 4th quarter. Jefferies Financial Group Inc. now owns 10,851 shares of the information technology services provider's stock worth $5,257,000 after buying an additional 9,849 shares in the last quarter. Junto Capital Management LP purchased a new stake in Gartner during the 4th quarter worth approximately $33,983,000. Finally, Graham Capital Management L.P. purchased a new stake in Gartner during the 4th quarter worth approximately $4,162,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Analyst Ratings Changes

IT has been the subject of several research reports. The Goldman Sachs Group cut their price objective on Gartner from $622.00 to $535.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Wells Fargo & Company cut their price objective on Gartner from $401.00 to $400.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Barclays dropped their price target on Gartner from $510.00 to $475.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. UBS Group upped their price target on Gartner from $500.00 to $525.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, StockNews.com lowered Gartner from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $518.67.

Insiders Place Their Bets

In other Gartner news, Director Eileen Serra sold 1,200 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $489.77, for a total value of $587,724.00. Following the sale, the director now directly owns 1,627 shares in the company, valued at $796,855.79. This trade represents a 42.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William James Wartinbee III sold 538 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $449.09, for a total value of $241,610.42. Following the completion of the sale, the executive vice president now owns 7,965 shares in the company, valued at approximately $3,577,001.85. This represents a 6.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,001 shares of company stock worth $2,736,801 over the last ninety days. Corporate insiders own 2.30% of the company's stock.

Gartner Price Performance

Shares of IT stock traded up $1.39 during trading hours on Friday, reaching $447.88. The company had a trading volume of 407,127 shares, compared to its average volume of 455,902. Gartner, Inc. has a 12-month low of $366.05 and a 12-month high of $584.01. The company has a market capitalization of $34.41 billion, a price-to-earnings ratio of 27.94, a PEG ratio of 3.30 and a beta of 1.24. The stock has a fifty day moving average of $420.79 and a 200-day moving average of $479.98. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06.

Gartner (NYSE:IT - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, beating analysts' consensus estimates of $2.72 by $0.26. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The firm had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.53 billion. During the same period in the prior year, the firm posted $2.93 earnings per share. The firm's quarterly revenue was up 4.2% on a year-over-year basis. On average, equities analysts anticipate that Gartner, Inc. will post 12.5 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.