DRW Securities LLC Trims Position in Gartner, Inc. (NYSE:IT)

DRW Securities LLC decreased its position in shares of Gartner, Inc. (NYSE:IT) by 40.8% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 449 shares of the information technology services provider’s stock after selling 309 shares during the quarter. DRW Securities LLC’s holdings in Gartner were worth $228,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Transcend Capital Advisors LLC purchased a new stake in Gartner during the 2nd quarter valued at approximately $512,000. Tidal Investments LLC grew its stake in Gartner by 24.4% during the first quarter. Tidal Investments LLC now owns 9,890 shares of the information technology services provider’s stock valued at $4,717,000 after acquiring an additional 1,940 shares in the last quarter. Swedbank AB bought a new stake in Gartner in the 1st quarter valued at $30,735,000. Cetera Investment Advisers lifted its stake in Gartner by 245.0% in the 1st quarter. Cetera Investment Advisers now owns 21,453 shares of the information technology services provider’s stock worth $10,226,000 after purchasing an additional 15,235 shares in the last quarter. Finally, Choreo LLC purchased a new stake in Gartner in the 2nd quarter worth $722,000. Institutional investors own 91.51% of the company’s stock.

Insider Transactions at Gartner

In other Gartner news, EVP Claire Herkes sold 478 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $506.01, for a total value of $241,872.78. Following the completion of the sale, the executive vice president now directly owns 1,905 shares of the company’s stock, valued at $963,949.05. The trade was a 20.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Akhil Jain sold 500 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $492.00, for a total transaction of $246,000.00. Following the transaction, the executive vice president now directly owns 4,339 shares in the company, valued at approximately $2,134,788. This trade represents a 10.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,149 shares of company stock worth $37,694,911. 3.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on IT shares. Barclays lifted their target price on Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Wells Fargo & Company upped their price objective on Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. BMO Capital Markets increased their target price on Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Gartner currently has an average rating of “Hold” and an average price target of $539.25.

Gartner Trading Down 0.7 %

IT stock opened at $519.23 on Thursday. Gartner, Inc. has a twelve month low of $411.15 and a twelve month high of $559.00. The stock has a market capitalization of $40.05 billion, a price-to-earnings ratio of 38.58, a price-to-earnings-growth ratio of 3.24 and a beta of 1.32. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31. The firm’s fifty day simple moving average is $520.55 and its two-hundred day simple moving average is $482.61.

Gartner (NYSE:IT) last issued its quarterly earnings results 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. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.56 EPS. As a group, analysts anticipate that Gartner, Inc. will post 11.89 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.