Point72 Hong Kong Ltd Raises Stock Position in Gartner, Inc. (NYSE:IT)

Point72 Hong Kong Ltd boosted its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 1,137.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,700 shares of the information technology services provider's stock after acquiring an additional 3,401 shares during the period. Point72 Hong Kong Ltd's holdings in Gartner were worth $1,793,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cary Street Partners Financial LLC purchased a new stake in shares of Gartner during the fourth quarter valued at approximately $27,000. Kestra Investment Management LLC purchased a new position in Gartner in the fourth quarter worth about $29,000. Itau Unibanco Holding S.A. grew its position in Gartner by 453.3% during the fourth quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider's stock valued at $40,000 after buying an additional 68 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Gartner during the 4th quarter valued at $49,000. Finally, Promus Capital LLC purchased a new position in Gartner during the fourth quarter valued at $57,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on IT shares. Barclays reduced their price objective on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. StockNews.com lowered shares of Gartner from a "buy" rating to a "hold" rating in a report on Friday, March 21st. The Goldman Sachs Group lowered their price target on shares of Gartner from $622.00 to $535.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Robert W. Baird lowered their price target on Gartner from $605.00 to $557.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Finally, UBS Group raised their target price on shares of Gartner from $500.00 to $525.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Gartner presently has a consensus rating of "Hold" and a consensus target price of $518.67.

Gartner Trading Up 0.4%

IT traded up $1.74 on Monday, reaching $450.03. 298,624 shares of the company traded hands, compared to its average volume of 455,713. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. Gartner, Inc. has a one year low of $366.05 and a one year high of $584.01. The firm has a fifty day simple moving average of $420.61 and a two-hundred day simple moving average of $479.18. The company has a market cap of $34.57 billion, a P/E ratio of 28.07, a price-to-earnings-growth ratio of 3.30 and a beta of 1.24.

Gartner (NYSE:IT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share (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 business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the business posted $2.93 EPS. The business's revenue was up 4.2% compared to the same quarter last year. As a group, equities research analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current year.

Insider Transactions at Gartner

In other Gartner news, EVP William James Wartinbee III sold 538 shares of Gartner stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $449.09, for a total transaction of $241,610.42. Following the completion of the sale, the executive vice president now directly owns 7,965 shares in the company, valued at approximately $3,577,001.85. The trade was a 6.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Craig Safian sold 3,415 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $450.17, for a total transaction of $1,537,330.55. Following the completion of the transaction, the chief financial officer now owns 77,890 shares of the company's stock, valued at approximately $35,063,741.30. This represents a 4.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,001 shares of company stock valued at $2,736,801 in the last 90 days. Insiders own 2.30% of the company's stock.

About Gartner

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.