Point72 Asia Singapore Pte. Ltd. Makes New Investment in Gartner, Inc. (NYSE:IT)

Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Gartner, Inc. (NYSE:IT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,978 shares of the information technology services provider’s stock, valued at approximately $1,002,000.

A number of other institutional investors also recently bought and sold shares of the business. Baron Wealth Management LLC lifted its holdings in Gartner by 4.1% during the 3rd quarter. Baron Wealth Management LLC now owns 481 shares of the information technology services provider’s stock worth $244,000 after buying an additional 19 shares during the last quarter. Fortitude Family Office LLC lifted its holdings in Gartner by 23.8% during the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after buying an additional 20 shares during the last quarter. Moors & Cabot Inc. lifted its holdings in Gartner by 3.0% during the 2nd quarter. Moors & Cabot Inc. now owns 763 shares of the information technology services provider’s stock worth $343,000 after buying an additional 22 shares during the last quarter. Mather Group LLC. lifted its holdings in Gartner by 2.2% during the 2nd quarter. Mather Group LLC. now owns 1,079 shares of the information technology services provider’s stock worth $514,000 after buying an additional 23 shares during the last quarter. Finally, Wallace Advisory Group LLC lifted its holdings in Gartner by 2.4% during the 2nd quarter. Wallace Advisory Group LLC now owns 980 shares of the information technology services provider’s stock worth $440,000 after buying an additional 23 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on IT shares. Wells Fargo & Company lifted their target price on Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 6th. Robert W. Baird lifted their price target on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Morgan Stanley increased their price objective on Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $539.25.

Gartner Stock Performance

NYSE:IT opened at $517.93 on Monday. The firm’s fifty day moving average price is $521.01 and its 200 day moving average price is $484.28. Gartner, Inc. has a 1-year low of $411.15 and a 1-year high of $559.00. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $39.95 billion, a price-to-earnings ratio of 38.20, a price-to-earnings-growth ratio of 3.24 and a beta of 1.32.

Gartner (NYSE:IT) last released its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the company earned $2.56 earnings per share. Gartner’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts expect that Gartner, Inc. will post 11.89 EPS for the current year.

Insider Buying and Selling at Gartner

In other news, EVP Claire Herkes sold 478 shares of Gartner stock in a transaction on Friday, September 13th. The stock was sold at an average price of $506.01, for a total transaction of $241,872.78. Following the completion of the transaction, the executive vice president now owns 1,905 shares of the company’s stock, valued at $963,949.05. The trade was a 20.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James C. Smith sold 5,000 shares of Gartner stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $524.02, for a total value of $2,620,100.00. Following the transaction, the director now directly owns 509,457 shares of the company’s stock, valued at $266,965,657.14. This trade represents a 0.97 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,149 shares of company stock valued at $37,694,911. 3.60% of the stock is 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.