DRW Securities LLC Makes New Investment in Gartner, Inc. (NYSE:IT)

DRW Securities LLC bought a new stake in Gartner, Inc. (NYSE:IT) in the second quarter, HoldingsChannel reports. The firm bought 758 shares of the information technology services provider’s stock, valued at approximately $340,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IT. Vanguard Group Inc. increased its holdings in shares of Gartner by 0.7% during the first quarter. Vanguard Group Inc. now owns 8,974,760 shares of the information technology services provider’s stock valued at $4,277,999,000 after acquiring an additional 60,786 shares in the last quarter. Principal Financial Group Inc. increased its stake in Gartner by 22.0% during the 2nd quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock valued at $852,014,000 after purchasing an additional 341,911 shares in the last quarter. Wellington Management Group LLP increased its stake in Gartner by 12.0% during the 4th quarter. Wellington Management Group LLP now owns 1,852,820 shares of the information technology services provider’s stock valued at $835,826,000 after purchasing an additional 198,274 shares in the last quarter. Axiom Investors LLC DE raised its holdings in Gartner by 14.4% in the fourth quarter. Axiom Investors LLC DE now owns 690,171 shares of the information technology services provider’s stock worth $311,343,000 after buying an additional 86,761 shares during the last quarter. Finally, Findlay Park Partners LLP lifted its stake in shares of Gartner by 5.7% in the first quarter. Findlay Park Partners LLP now owns 678,121 shares of the information technology services provider’s stock worth $323,240,000 after buying an additional 36,400 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Gartner news, Director Karen E. Dykstra sold 1,683 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $465.55, for a total transaction of $783,520.65. Following the completion of the sale, the director now owns 19,825 shares of the company’s stock, valued at $9,229,528.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Claire Herkes sold 478 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $506.01, for a total transaction of $241,872.78. Following the sale, the executive vice president now directly owns 1,905 shares in the company, valued at approximately $963,949.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karen E. Dykstra sold 1,683 shares of Gartner stock in a transaction on Monday, August 5th. The shares were sold at an average price of $465.55, for a total transaction of $783,520.65. Following the transaction, the director now owns 19,825 shares in the company, valued at approximately $9,229,528.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,164 shares of company stock valued at $32,601,014. 3.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on IT. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Wells Fargo & Company raised Gartner to a “strong sell” rating in a report on Tuesday, August 13th. Bank of America lifted their price objective on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. UBS Group upped their target price on shares of Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley raised their price target on shares of Gartner from $440.00 to $470.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $521.00.

Gartner Trading Up 0.5 %

Shares of NYSE:IT opened at $516.38 on Tuesday. Gartner, Inc. has a 52-week low of $323.61 and a 52-week high of $517.48. The stock has a market capitalization of $40.09 billion, a price-to-earnings ratio of 51.38, a PEG ratio of 3.89 and a beta of 1.32. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90. The stock’s 50-day simple moving average is $484.29 and its two-hundred day simple moving average is $462.45.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $3.02 by $0.20. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.85 earnings per share. Analysts expect that Gartner, Inc. will post 11.59 EPS for the current year.

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.