R Squared Ltd Invests $291,000 in Gartner, Inc. (NYSE:IT)

R Squared Ltd acquired a new stake in Gartner, Inc. (NYSE:IT) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 600 shares of the information technology services provider’s stock, valued at approximately $291,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IT. Assenagon Asset Management S.A. grew its holdings in Gartner by 208.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 272,267 shares of the information technology services provider’s stock valued at $131,905,000 after buying an additional 183,974 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Gartner in the third quarter valued at about $70,955,000. Principal Financial Group Inc. increased its position in Gartner by 5.5% during the third quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock worth $1,014,099,000 after purchasing an additional 103,814 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Gartner during the third quarter worth about $36,789,000. Finally, JPMorgan Chase & Co. raised its stake in Gartner by 7.3% during the third quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock worth $525,272,000 after purchasing an additional 70,236 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

IT has been the subject of a number of recent analyst reports. Wells Fargo & Company cut their price target on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a report on Friday, January 10th. Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft upped their price target on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Robert W. Baird boosted their price objective on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $550.75.

Insiders Place Their Bets

In related news, EVP William James Wartinbee III sold 189 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $523.54, for a total transaction of $98,949.06. Following the completion of the transaction, the executive vice president now owns 7,311 shares in the company, valued at approximately $3,827,600.94. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James C. Smith sold 10,000 shares of Gartner stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $535.76, for a total value of $5,357,600.00. Following the sale, the director now directly owns 554,274 shares of the company’s stock, valued at $296,957,838.24. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,583 shares of company stock worth $19,241,974 over the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Gartner Price Performance

IT opened at $541.70 on Wednesday. The stock’s 50-day moving average price is $506.45 and its 200 day moving average price is $502.61. Gartner, Inc. has a 12-month low of $411.15 and a 12-month high of $559.00. The firm has a market cap of $41.78 billion, a price-to-earnings ratio of 39.95, a PEG ratio of 2.92 and a beta of 1.33. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.45 by $0.05. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the firm posted $2.56 earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, sell-side analysts expect that Gartner, Inc. will post 11.87 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.