Millennium Management LLC Has $144.02 Million Position in Gartner, Inc. (NYSE:IT)

Millennium Management LLC raised its position in Gartner, Inc. (NYSE:IT) by 178.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 297,277 shares of the information technology services provider’s stock after acquiring an additional 190,326 shares during the quarter. Millennium Management LLC owned approximately 0.39% of Gartner worth $144,022,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in shares of Gartner by 8.6% during the 3rd quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock worth $84,520,000 after buying an additional 13,205 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Gartner by 7.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock worth $525,272,000 after buying an additional 70,236 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Gartner by 2.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 917 shares of the information technology services provider’s stock worth $444,000 after buying an additional 22 shares during the last quarter. Czech National Bank lifted its stake in shares of Gartner by 6.5% during the 4th 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 last quarter. Finally, Salem Investment Counselors Inc. lifted its stake in shares of Gartner by 12.5% during the 4th quarter. Salem Investment Counselors Inc. now owns 5,127 shares of the information technology services provider’s stock worth $2,484,000 after buying an additional 568 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Stock Performance

Shares of NYSE:IT opened at $448.85 on Wednesday. The company’s 50 day simple moving average is $422.40 and its 200 day simple moving average is $481.18. The stock has a market capitalization of $34.48 billion, a price-to-earnings ratio of 28.00, a price-to-earnings-growth ratio of 3.30 and a beta of 1.24. 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 1 year low of $366.05 and a 1 year high of $584.01.

Gartner (NYSE:IT) last issued its earnings results 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. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the business posted $2.93 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, research analysts predict that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insider Buying and Selling at Gartner

In other Gartner news, Director Eileen Serra sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $489.77, for a total value of $587,724.00. Following the sale, the director now owns 1,627 shares in the company, valued at $796,855.79. This trade represents a 42.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP John J. Rinello sold 109 shares of the firm’s 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 completion of the sale, the senior vice president now owns 3,280 shares in the company, valued at $1,431,228. This represents a 3.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,048 shares of company stock worth $957,860 over the last quarter. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on IT shares. Morgan Stanley dropped their price objective on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Wells Fargo & Company dropped their price objective on shares of Gartner from $401.00 to $400.00 and set an “underweight” rating for the company in a research note on Thursday, May 1st. Barclays dropped 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. Finally, UBS Group lifted their price objective on shares of Gartner from $500.00 to $525.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. One equities research 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.