Millennium Management LLC Has $108.20 Million Stock Position in Gartner, Inc. (NYSE:IT)

Millennium Management LLC lessened its position in shares of Gartner, Inc. (NYSE:IT) by 4.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 240,949 shares of the information technology services provider’s stock after selling 11,479 shares during the quarter. Millennium Management LLC’s holdings in Gartner were worth $108,201,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Central Pacific Bank Trust Division bought a new position in Gartner in the first quarter valued at approximately $36,000. Crewe Advisors LLC boosted 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 worth $44,000 after purchasing an additional 67 shares during the last quarter. J.Safra Asset Management Corp grew its stake in shares of Gartner by 58.7% during the first quarter. J.Safra Asset Management Corp now owns 146 shares of the information technology services provider’s stock worth $70,000 after purchasing an additional 54 shares during the period. Rothschild Investment LLC bought a new stake in Gartner in the second quarter valued at about $94,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Gartner by 16.0% in the first 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 period. Institutional investors own 91.51% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Akhil Jain sold 400 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $485.00, for a total value of $194,000.00. Following the completion of the transaction, the executive vice president now owns 4,839 shares in the company, valued at approximately $2,346,915. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Gartner news, Director Karen E. Dykstra sold 1,683 shares of the company’s 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 sale, the director now directly owns 19,825 shares of the company’s stock, valued at $9,229,528.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Akhil Jain sold 400 shares of Gartner stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $485.00, for a total transaction of $194,000.00. Following the completion of the transaction, the executive vice president now directly owns 4,839 shares of the company’s stock, valued at approximately $2,346,915. The disclosure for this sale can be found here. Insiders have sold 65,164 shares of company stock valued at $32,601,014 in the last three months. 3.60% of the stock is currently owned by corporate insiders.

Gartner Stock Down 1.5 %

Shares of Gartner stock opened at $508.94 on Friday. The firm has a market cap of $39.51 billion, a PE ratio of 50.64, a P/E/G ratio of 3.21 and a beta of 1.32. The business’s 50 day simple moving average is $488.36 and its 200 day simple moving average is $463.79. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90. Gartner, Inc. has a 52-week low of $323.61 and a 52-week high of $521.64.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the company earned $2.85 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. On average, analysts predict that Gartner, Inc. will post 11.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on IT. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. BMO Capital Markets upped their target price on shares of Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. Robert W. Baird lifted their price target on shares of Gartner from $517.00 to $565.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. UBS Group raised their price objective on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company raised Gartner to a “strong sell” rating in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $521.00.

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.