Worldquant Millennium Advisors LLC Decreases Stake in Gartner, Inc. (NYSE:IT)

Worldquant Millennium Advisors LLC lowered its position in shares of Gartner, Inc. (NYSE:IT) by 12.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 97,392 shares of the information technology services provider’s stock after selling 14,317 shares during the quarter. Worldquant Millennium Advisors LLC’s holdings in Gartner were worth $47,184,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Norges Bank purchased a new position in Gartner in the 4th quarter worth approximately $460,541,000. Madison Investment Advisors LLC purchased a new position in Gartner in the 4th quarter worth approximately $244,799,000. Raymond James Financial Inc. purchased a new position in Gartner in the 4th quarter worth approximately $165,476,000. BNP Paribas Financial Markets boosted its holdings in Gartner by 184.6% in the 4th quarter. BNP Paribas Financial Markets now owns 390,472 shares of the information technology services provider’s stock worth $189,172,000 after acquiring an additional 253,288 shares during the period. Finally, FMR LLC boosted its holdings in Gartner by 8.6% in the 4th quarter. FMR LLC now owns 2,822,122 shares of the information technology services provider’s stock worth $1,367,233,000 after acquiring an additional 223,087 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

IT has been the subject of a number of analyst reports. Wells Fargo & Company decreased their price target on Gartner from $401.00 to $400.00 and set an “underweight” rating for the company in a report on Thursday, May 1st. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a report on Friday, March 21st. The Goldman Sachs Group decreased their price target on Gartner from $622.00 to $535.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Robert W. Baird decreased their price target on Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Finally, Barclays decreased their price target on Gartner from $510.00 to $475.00 and set an “overweight” rating for the company in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $518.67.

Gartner Stock Performance

Shares of IT opened at $450.03 on Tuesday. The business’s 50 day moving average is $420.61 and its two-hundred day moving average is $479.18. Gartner, Inc. has a 52-week low of $366.05 and a 52-week high of $584.01. The firm has a market cap of $34.57 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 3.30 and a beta of 1.24. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.26. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.93 EPS. Analysts forecast that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insider Activity at Gartner

In related news, EVP William James Wartinbee III sold 538 shares of the company’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $449.09, for a total transaction of $241,610.42. Following the completion of the transaction, the executive vice president now directly owns 7,965 shares in the company, valued at $3,577,001.85. This represents a 6.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Craig Safian sold 3,415 shares of the company’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $450.17, for a total value of $1,537,330.55. Following the transaction, the chief financial officer now owns 77,890 shares of the company’s stock, valued at approximately $35,063,741.30. The trade was a 4.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,001 shares of company stock valued at $2,736,801. Corporate insiders own 2.30% of the company’s stock.

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.