Point72 Asia Singapore Pte. Ltd. Raises Stock Position in Gartner, Inc. (NYSE:IT)

Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Gartner, Inc. (NYSE:IT) by 184.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,620 shares of the information technology services provider’s stock after buying an additional 3,642 shares during the quarter. Gartner accounts for 0.7% of Point72 Asia Singapore Pte. Ltd.’s investment 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.

Other institutional investors have also modified their holdings of the company. Cary Street Partners Financial LLC acquired a new stake in Gartner in the fourth quarter valued at $27,000. Kestra Investment Management LLC purchased a new position in Gartner during the 4th quarter worth approximately $29,000. Itau Unibanco Holding S.A. boosted its holdings in shares of 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 acquiring an additional 68 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Gartner during the fourth quarter worth approximately $49,000. Finally, Promus Capital LLC acquired a new position in shares of Gartner in the 4th quarter valued at $57,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Price Performance

Shares of IT opened at $445.55 on Thursday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The stock’s 50 day moving average is $421.67 and its two-hundred day moving average is $480.94. Gartner, Inc. has a twelve month low of $366.05 and a twelve month high of $584.01. The firm has a market capitalization of $34.23 billion, a PE ratio of 27.79, a P/E/G ratio of 3.30 and a beta of 1.24.

Gartner (NYSE:IT) last posted its quarterly 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 return on equity of 116.56% and a net margin of 20.00%. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the business earned $2.93 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. Research analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on IT shares. Morgan Stanley decreased their price target 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. Wells Fargo & Company reduced their target price on shares of Gartner from $401.00 to $400.00 and set an “underweight” rating for the company in a report on Thursday, May 1st. UBS Group raised their price target on Gartner from $500.00 to $525.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Robert W. Baird reduced their price objective on Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Finally, The Goldman Sachs Group decreased their price objective on Gartner from $622.00 to $535.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $518.67.

Insider Transactions at Gartner

In other Gartner news, CFO Craig Safian sold 3,415 shares of the company’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $450.17, for a total value of $1,537,330.55. Following the sale, the chief financial officer now owns 77,890 shares of the company’s stock, valued at $35,063,741.30. This represents a 4.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eileen Serra sold 1,200 shares of the company’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 completion of the sale, the director now directly owns 1,627 shares in the company, valued at approximately $796,855.79. The trade was a 42.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,463 shares of company stock valued at $2,495,190 in the last ninety days. 2.30% of the stock is currently owned by company insiders.

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.