Squarepoint Ops LLC Grows Position in Gartner, Inc. (NYSE:IT)

Squarepoint Ops LLC boosted its stake in Gartner, Inc. (NYSE:IT) by 990.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 57,700 shares of the information technology services provider’s stock after buying an additional 52,409 shares during the quarter. Squarepoint Ops LLC owned approximately 0.07% of Gartner worth $27,954,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cary Street Partners Financial LLC bought a new position in Gartner in the 4th quarter valued at $27,000. Kestra Investment Management LLC bought a new position in Gartner in the 4th quarter valued at $29,000. Itau Unibanco Holding S.A. grew its stake in Gartner by 453.3% in the 4th quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider’s stock valued at $40,000 after purchasing an additional 68 shares during the period. SBI Securities Co. Ltd. bought a new position in Gartner in the 4th quarter valued at $49,000. Finally, Promus Capital LLC bought a new position in Gartner in the 4th quarter valued at $57,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Gartner news, EVP Robin B. Kranich sold 739 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $436.50, for a total value of $322,573.50. Following the sale, the executive vice president now owns 20,464 shares of the company’s stock, valued at $8,932,536. This trade represents a 3.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP John J. Rinello sold 109 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $436.35, for a total value of $47,562.15. Following the completion of the sale, the senior vice president now directly owns 3,280 shares in the company, valued at approximately $1,431,228. The trade was a 3.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,001 shares of company stock worth $2,736,801 in the last quarter. 2.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Barclays reduced their price objective on Gartner from $510.00 to $475.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Robert W. Baird reduced their price objective on Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. UBS Group increased their price target on Gartner from $500.00 to $525.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group cut their price target on Gartner from $622.00 to $535.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $518.67.

Gartner Stock Down 0.4%

IT stock opened at $447.70 on Wednesday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market capitalization of $34.39 billion, a price-to-earnings ratio of 27.93, a PEG ratio of 3.30 and a beta of 1.24. Gartner, Inc. has a fifty-two week low of $366.05 and a fifty-two week high of $584.01. The stock has a fifty day moving average of $420.53 and a 200-day moving average of $478.96.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, topping the consensus estimate of $2.72 by $0.26. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the company earned $2.93 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. As a group, equities research analysts predict that Gartner, Inc. will post 12.5 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.