Trexquant Investment LP Invests $4.26 Million in Gartner, Inc. (NYSE:IT)

Trexquant Investment LP bought a new position in Gartner, Inc. (NYSE:IT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,782 shares of the information technology services provider’s stock, valued at approximately $4,255,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Czech National Bank raised its stake in shares of Gartner by 6.5% in the fourth quarter. Czech National Bank now owns 16,725 shares of the information technology services provider’s stock worth $8,103,000 after acquiring an additional 1,028 shares during the last quarter. Entropy Technologies LP bought a new position in Gartner in the 4th quarter worth approximately $366,000. D.A. Davidson & CO. lifted its holdings in Gartner by 2.6% during the 4th quarter. D.A. Davidson & CO. now owns 1,137 shares of the information technology services provider’s stock worth $551,000 after buying an additional 29 shares in the last quarter. Conestoga Capital Advisors LLC boosted its position in Gartner by 1.5% in the 4th quarter. Conestoga Capital Advisors LLC now owns 31,626 shares of the information technology services provider’s stock valued at $15,322,000 after buying an additional 480 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of Gartner by 8.6% in the 3rd quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock valued at $84,520,000 after buying an additional 13,205 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Gartner Price Performance

Shares of IT stock opened at $383.12 on Friday. 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 12-month low of $382.23 and a 12-month high of $584.01. The firm has a fifty day moving average of $482.71 and a 200-day moving average of $502.15. The firm has a market capitalization of $29.43 billion, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $2.23. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The company’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.04 earnings per share. On average, equities research analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Barclays cut their target price on shares of Gartner from $600.00 to $510.00 and set an “overweight” rating on the stock in a research report on Friday. UBS Group lowered their price target on shares of Gartner from $565.00 to $500.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. 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. Finally, Wells Fargo & Company lowered their target price on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a report on Friday, January 10th. One 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.com, the stock currently has a consensus rating of “Hold” and an average target price of $525.38.

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.