Two Sigma Advisers LP Sells 34,800 Shares of Gartner, Inc. (NYSE:IT)

Two Sigma Advisers LP reduced its stake in shares of Gartner, Inc. (NYSE:IT) by 17.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 163,300 shares of the information technology services provider’s stock after selling 34,800 shares during the period. Two Sigma Advisers LP’s holdings in Gartner were worth $82,754,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in IT. Eastern Bank acquired a new stake in shares of Gartner during the third quarter worth $26,000. Crewe Advisors LLC lifted its holdings in shares of Gartner by 223.3% in the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after purchasing an additional 67 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Gartner during the third quarter worth about $44,000. True Wealth Design LLC grew its holdings in shares of Gartner by 2,350.0% during the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after buying an additional 94 shares in the last quarter. Finally, Fortitude Family Office LLC raised its position in Gartner by 23.8% in the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after buying an additional 20 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Trading Down 1.1 %

Shares of Gartner stock opened at $516.67 on Friday. 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 business has a fifty day simple moving average of $521.35 and a two-hundred day simple moving average of $485.71. Gartner, Inc. has a 1 year low of $411.15 and a 1 year high of $559.00. The company has a market capitalization of $39.85 billion, a price-to-earnings ratio of 38.10, a P/E/G ratio of 3.22 and a beta of 1.31.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.05. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the firm posted $2.56 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. Research analysts forecast that Gartner, Inc. will post 11.89 EPS for the current year.

Insider Transactions at Gartner

In other Gartner news, EVP Akhil Jain sold 500 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $492.00, for a total transaction of $246,000.00. Following the completion of the transaction, the executive vice president now owns 4,339 shares of the company’s stock, valued at approximately $2,134,788. The trade was a 10.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Claire Herkes sold 411 shares of Gartner stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total transaction of $214,229.64. Following the sale, the executive vice president now directly owns 1,494 shares in the company, valued at $778,732.56. This trade represents a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,560 shares of company stock valued at $37,909,141. 3.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

IT has been the subject of several research reports. StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Robert W. Baird lifted their price target on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Barclays increased their price objective on shares of Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. Morgan Stanley lifted their target price on Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company increased their price target on Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Gartner presently has an average rating of “Hold” and an average target price of $539.25.

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.