Point72 Hong Kong Ltd Acquires Shares of 636 Gartner, Inc. (NYSE:IT)

Point72 Hong Kong Ltd acquired a new stake in Gartner, Inc. (NYSE:IT) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 636 shares of the information technology services provider’s stock, valued at approximately $286,000.

A number of other large investors also recently modified their holdings of IT. Central Pacific Bank Trust Division purchased a new stake in shares of Gartner in the 1st quarter valued at approximately $36,000. Crewe Advisors LLC grew its position in shares of Gartner by 223.3% in the 2nd quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after buying an additional 67 shares during the last quarter. J.Safra Asset Management Corp grew its position in shares of Gartner by 58.7% in the 1st quarter. J.Safra Asset Management Corp now owns 146 shares of the information technology services provider’s stock valued at $70,000 after buying an additional 54 shares during the last quarter. Rothschild Investment LLC purchased a new position in shares of Gartner in the 2nd quarter valued at $94,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Gartner by 16.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 275 shares of the information technology services provider’s stock valued at $131,000 after buying an additional 38 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Wells Fargo & Company raised shares of Gartner to a “strong sell” rating in a research report on Tuesday, August 13th. UBS Group increased their target price on shares of Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Bank of America raised their price objective on shares of Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley raised their price objective on shares of Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Gartner presently has a consensus rating of “Hold” and a consensus target price of $521.00.

Insider Transactions at Gartner

In related news, CEO Eugene A. Hall sold 34,060 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $505.40, for a total value of $17,213,924.00. Following the completion of the sale, the chief executive officer now owns 1,143,401 shares in the company, valued at $577,874,865.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Gartner news, CEO Eugene A. Hall sold 34,060 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the completion of the transaction, the chief executive officer now directly owns 1,143,401 shares in the company, valued at approximately $577,874,865.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alwyn Dawkins sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $505.49, for a total transaction of $505,490.00. Following the transaction, the executive vice president now owns 56,650 shares of the company’s stock, valued at $28,636,008.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,164 shares of company stock worth $32,601,014. Company insiders own 3.60% of the company’s stock.

Gartner Trading Up 1.1 %

Shares of Gartner stock opened at $516.47 on Friday. Gartner, Inc. has a 1 year low of $323.61 and a 1 year high of $521.64. 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 company has a market capitalization of $40.09 billion, a P/E ratio of 51.39, a PEG ratio of 3.21 and a beta of 1.32. The company’s fifty day moving average is $487.35 and its two-hundred day moving average is $463.49.

Gartner (NYSE:IT) last released its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, topping the consensus estimate of $3.02 by $0.20. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter last year, the business earned $2.85 EPS. The business’s revenue was up 6.1% on a year-over-year basis. Analysts forecast that Gartner, Inc. will post 11.65 earnings per share 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.