Millennium Management LLC Acquires 190,326 Shares of Gartner, Inc. (NYSE:IT)

Millennium Management LLC increased its holdings in Gartner, Inc. (NYSE:IT) by 178.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 297,277 shares of the information technology services provider’s stock after purchasing an additional 190,326 shares during the period. Millennium Management LLC’s holdings in Gartner were worth $144,022,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of IT. Cary Street Partners Financial LLC acquired a new position in Gartner in the fourth quarter valued at $27,000. Kestra Investment Management LLC acquired a new position in Gartner in the fourth quarter valued at $29,000. Itau Unibanco Holding S.A. lifted its holdings in Gartner by 453.3% in 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. acquired a new position in Gartner in the fourth quarter valued at $49,000. Finally, Promus Capital LLC acquired a new position in Gartner in the fourth quarter valued at $57,000. Institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. UBS Group upped their price objective on shares of Gartner from $500.00 to $525.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Wells Fargo & Company dropped their price objective on shares of Gartner from $401.00 to $400.00 and set an “underweight” rating on the stock in a report on Thursday, May 1st. 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 dropped their price objective on shares of Gartner from $622.00 to $535.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Finally, Morgan Stanley dropped their price objective on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $518.67.

Gartner Trading Up 0.4%

NYSE:IT opened at $448.85 on Wednesday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a 50-day moving average of $422.40 and a 200-day moving average of $481.18. The company has a market cap of $34.48 billion, a PE ratio of 28.00, a PEG ratio of 3.30 and a beta of 1.24. Gartner, Inc. has a one year low of $366.05 and a one year high of $584.01.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, topping the consensus estimate of $2.72 by $0.26. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the firm posted $2.93 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, equities research analysts expect that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Robin B. Kranich sold 739 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $436.50, for a total transaction of $322,573.50. Following the completion of the transaction, the executive vice president now directly owns 20,464 shares of the company’s stock, valued at $8,932,536. This represents a 3.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John J. Rinello sold 109 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $436.35, for a total transaction of $47,562.15. Following the transaction, the senior vice president now directly owns 3,280 shares of the company’s stock, valued at $1,431,228. This represents a 3.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,048 shares of company stock valued at $957,860. Corporate insiders own 2.30% of the company’s stock.

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.