Renaissance Technologies LLC Sells 6,900 Shares of Gartner, Inc. (NYSE:IT)

Renaissance Technologies LLC trimmed its position in Gartner, Inc. (NYSE:IT) by 22.8% during the 4th quarter, HoldingsChannel reports. The firm owned 23,409 shares of the information technology services provider’s stock after selling 6,900 shares during the quarter. Renaissance Technologies LLC’s holdings in Gartner were worth $11,341,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. FIL Ltd raised its stake in Gartner by 48.7% during the fourth quarter. FIL Ltd now owns 17,342 shares of the information technology services provider’s stock valued at $8,402,000 after purchasing an additional 5,679 shares in the last quarter. Invesco Ltd. raised its position in shares of Gartner by 6.7% during the 4th quarter. Invesco Ltd. now owns 955,134 shares of the information technology services provider’s stock valued at $462,734,000 after buying an additional 60,306 shares in the last quarter. FMR LLC lifted its holdings in shares of Gartner by 8.6% in the 4th quarter. FMR LLC now owns 2,822,122 shares of the information technology services provider’s stock valued at $1,367,233,000 after acquiring an additional 223,087 shares during the last quarter. 2Xideas AG grew its position in Gartner by 45.0% in the fourth quarter. 2Xideas AG now owns 24,776 shares of the information technology services provider’s stock worth $12,003,000 after acquiring an additional 7,687 shares in the last quarter. Finally, Unigestion Holding SA increased its stake in Gartner by 2.0% during the fourth quarter. Unigestion Holding SA now owns 48,424 shares of the information technology services provider’s stock worth $23,460,000 after acquiring an additional 970 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IT. Wells Fargo & Company cut their target price on Gartner from $488.00 to $401.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 9th. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Robert W. Baird reduced their price target on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Barclays cut their price objective on Gartner from $600.00 to $510.00 and set an “overweight” rating on the stock in a research report on Friday, April 4th. Finally, Morgan Stanley lowered their target price on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Gartner has an average rating of “Hold” and a consensus price target of $518.00.

Insider Activity

In related news, SVP John J. Rinello sold 90 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the sale, the senior vice president now owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This represents a 2.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eileen Serra sold 1,200 shares of Gartner stock in a transaction on Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the transaction, the director now directly owns 1,627 shares in the company, valued at $796,855.79. This represents a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.

Gartner Stock Performance

Shares of NYSE:IT opened at $403.50 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $31.00 billion, a price-to-earnings ratio of 25.17, a price-to-earnings-growth ratio of 3.30 and a beta of 1.26. The firm has a 50 day moving average of $456.10 and a 200 day moving average of $494.86. Gartner, Inc. has a 52 week low of $366.05 and a 52 week high of $584.01.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $2.23. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the prior year, the business posted $3.04 EPS. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. On average, sell-side analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Gartner Company 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.