ExodusPoint Capital Management LP Increases Holdings in Gartner, Inc. (NYSE:IT)

ExodusPoint Capital Management LP grew its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 290.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,056 shares of the information technology services provider's stock after acquiring an additional 8,969 shares during the quarter. ExodusPoint Capital Management LP's holdings in Gartner were worth $5,841,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of IT. Motley Fool Asset Management LLC increased its position in shares of Gartner by 14.5% during the 4th quarter. Motley Fool Asset Management LLC now owns 4,165 shares of the information technology services provider's stock valued at $2,018,000 after purchasing an additional 529 shares during the last quarter. OneAscent Financial Services LLC bought a new position in Gartner during the fourth quarter valued at approximately $251,000. Bryce Point Capital LLC purchased a new position in shares of Gartner during the fourth quarter worth approximately $485,000. Meeder Advisory Services Inc. lifted its holdings in shares of Gartner by 3.0% in the 4th quarter. Meeder Advisory Services Inc. now owns 1,999 shares of the information technology services provider's stock worth $968,000 after acquiring an additional 59 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in shares of Gartner during the 4th quarter valued at $4,255,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Gartner Stock Down 4.4 %

Shares of NYSE IT traded down $17.78 during mid-day trading on Thursday, hitting $388.35. 172,329 shares of the stock traded hands, compared to its average volume of 445,976. The stock has a fifty day moving average price of $467.43 and a 200-day moving average price of $497.94. 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 cap of $29.83 billion, a price-to-earnings ratio of 24.09, a PEG ratio of 3.30 and a beta of 1.26. Gartner, Inc. has a 52 week low of $366.05 and a 52 week high of $584.01.

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Gartner (NYSE:IT - Get Free Report) last announced its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, beating analysts' consensus estimates of $3.22 by $2.23. The firm had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company's quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.04 EPS. Research analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently commented on IT. StockNews.com downgraded Gartner from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Barclays lowered their price objective on Gartner from $600.00 to $510.00 and set an "overweight" rating for the company in a research report on Friday, April 4th. The Goldman Sachs Group restated a "buy" rating on shares of Gartner in a report on Tuesday, February 4th. Morgan Stanley cut their price target on shares of Gartner from $564.00 to $555.00 and set an "equal weight" rating on the stock in a report on Thursday, January 16th. Finally, UBS Group lowered their price objective on shares of Gartner from $565.00 to $500.00 and set a "buy" rating for the company in a research note on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Gartner has a consensus rating of "Hold" and a consensus price target of $518.00.

Insider Activity

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

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.