Schonfeld Strategic Advisors LLC Invests $4.93 Million in Gartner, Inc. (NYSE:IT)

Schonfeld Strategic Advisors LLC acquired a new position in shares of Gartner, Inc. (NYSE:IT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,184 shares of the information technology services provider's stock, valued at approximately $4,934,000.

A number of other large investors also recently added to or reduced their stakes in IT. Howard Capital Management Inc. grew its holdings in Gartner by 4.4% during the 4th quarter. Howard Capital Management Inc. now owns 452 shares of the information technology services provider's stock worth $219,000 after acquiring an additional 19 shares during the period. Gilbert & Cook Inc. lifted its stake in Gartner by 1.5% in the fourth quarter. Gilbert & Cook Inc. now owns 1,364 shares of the information technology services provider's stock valued at $661,000 after buying an additional 20 shares during the period. Dorsey & Whitney Trust CO LLC boosted its holdings in Gartner by 2.5% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 826 shares of the information technology services provider's stock worth $400,000 after buying an additional 20 shares during the last quarter. Sompo Asset Management Co. Ltd. grew its position in shares of Gartner by 1.7% during the 4th quarter. Sompo Asset Management Co. Ltd. now owns 1,210 shares of the information technology services provider's stock worth $586,000 after buying an additional 20 shares during the period. Finally, Parallel Advisors LLC increased its stake in shares of Gartner by 2.9% in the 4th quarter. Parallel Advisors LLC now owns 737 shares of the information technology services provider's stock valued at $357,000 after acquiring an additional 21 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Eileen Serra sold 1,200 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the transaction, the director now directly owns 1,627 shares of the company's stock, valued at $796,855.79. This represents a 42.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John J. Rinello sold 90 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the completion of the sale, the senior vice president now directly owns 3,259 shares of the company's stock, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on IT. Barclays lowered their target price 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. The Goldman Sachs Group reiterated a "buy" rating on shares of Gartner in a report on Tuesday, February 4th. Morgan Stanley lowered their price target on Gartner from $564.00 to $555.00 and set an "equal weight" rating for the company in a report on Thursday, January 16th. StockNews.com cut shares of Gartner from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Finally, Wells Fargo & Company reduced their price objective on Gartner from $401.00 to $400.00 and set an "underweight" rating for the company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $513.50.

Gartner Price Performance

Shares of IT traded up $6.47 during trading hours on Tuesday, hitting $433.45. 963,723 shares of the company were exchanged, compared to its average volume of 450,773. The company has a market cap of $33.30 billion, a price-to-earnings ratio of 27.04, a P/E/G ratio of 3.30 and a beta of 1.24. The firm's fifty day moving average is $427.26 and its 200 day moving average is $484.00. Gartner, Inc. has a fifty-two week low of $366.05 and a fifty-two week high of $584.01. 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 (NYSE:IT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, topping analysts' consensus estimates of $2.72 by $0.26. The company had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.53 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. Gartner's revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.93 EPS. On average, equities analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

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.