Gartner, Inc. (NYSE:IT) Shares Purchased by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Gartner, Inc. (NYSE:IT) by 184.1% in the fourth quarter, HoldingsChannel reports. The fund owned 5,620 shares of the information technology services provider’s stock after buying an additional 3,642 shares during the quarter. Gartner makes up about 0.7% of Point72 Asia Singapore Pte. Ltd.’s portfolio, making the stock its 28th largest position. Point72 Asia Singapore Pte. Ltd.’s holdings in Gartner were worth $2,723,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Barclays PLC increased its stake in Gartner by 8.6% during the third quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock worth $84,520,000 after acquiring an additional 13,205 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Gartner by 7.3% in the third quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock valued at $525,272,000 after buying an additional 70,236 shares during the period. Harbor Capital Advisors Inc. lifted its position in Gartner by 2.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 917 shares of the information technology services provider’s stock valued at $444,000 after buying an additional 22 shares in the last quarter. Czech National Bank grew its stake in Gartner by 6.5% during the fourth quarter. Czech National Bank now owns 16,725 shares of the information technology services provider’s stock worth $8,103,000 after buying an additional 1,028 shares during the period. Finally, Signal Advisors Wealth LLC increased its position in shares of Gartner by 7.4% in the fourth quarter. Signal Advisors Wealth LLC now owns 741 shares of the information technology services provider’s stock worth $359,000 after acquiring an additional 51 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Transactions at Gartner

In other Gartner news, Director Eileen Serra sold 1,200 shares of Gartner stock in a transaction on Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the sale, the director now owns 1,627 shares of the company’s stock, valued at $796,855.79. The trade was a 42.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Craig Safian sold 3,415 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $450.17, for a total value of $1,537,330.55. Following the completion of the transaction, the chief financial officer now directly owns 77,890 shares of the company’s stock, valued at approximately $35,063,741.30. The trade was a 4.20% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,463 shares of company stock worth $2,495,190. Insiders own 2.30% of the company’s stock.

Gartner Stock Performance

Shares of IT opened at $445.55 on Thursday. The stock has a market capitalization of $34.23 billion, a PE ratio of 27.79, a price-to-earnings-growth ratio of 3.30 and a beta of 1.24. The business’s fifty day moving average price is $421.67 and its 200 day moving average price is $480.94. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. Gartner, Inc. has a 12-month low of $366.05 and a 12-month high of $584.01.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.72 by $0.26. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.93 EPS. Equities research analysts forecast that Gartner, Inc. will post 12.5 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on IT shares. UBS Group raised their target price on shares of Gartner from $500.00 to $525.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Robert W. Baird decreased their price target on Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Morgan Stanley cut 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. Barclays lowered their price objective on Gartner from $510.00 to $475.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Finally, Wells Fargo & Company dropped their target price on shares of Gartner from $401.00 to $400.00 and set an “underweight” rating for the company in a research report on Thursday, May 1st. One equities 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $518.67.

Gartner 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.