Magnetar Financial LLC Buys Shares of 10,035 Gartner, Inc. (NYSE:IT)

Magnetar Financial LLC bought a new position in Gartner, Inc. (NYSE:IT - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,035 shares of the information technology services provider's stock, valued at approximately $4,862,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC acquired a new stake in shares of Gartner in the fourth quarter worth $29,000. True Wealth Design LLC increased its holdings in Gartner by 2,350.0% in the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider's stock valued at $50,000 after purchasing an additional 94 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Gartner in the fourth quarter valued at about $49,000. Promus Capital LLC acquired a new position in shares of Gartner during the fourth quarter worth about $57,000. Finally, Global Retirement Partners LLC boosted its position in shares of Gartner by 14.0% in the fourth quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider's stock worth $134,000 after buying an additional 34 shares during the period. Institutional investors and hedge funds own 91.51% of the company's stock.

Insider Buying and Selling

In other news, SVP John J. Rinello sold 90 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the sale, the senior vice president now directly owns 3,259 shares in the company, valued at approximately $1,728,932.09. This represents a 2.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eileen Serra sold 1,200 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $489.77, for a total value of $587,724.00. Following the transaction, the director now owns 1,627 shares of the company's stock, valued at $796,855.79. This represents a 42.45 % decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by company insiders.

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Gartner Stock Down 0.2 %

Shares of IT stock traded down $0.69 during trading hours on Monday, hitting $429.69. 685,631 shares of the company were exchanged, compared to its average volume of 394,590. The stock has a market capitalization of $33.01 billion, a price-to-earnings ratio of 26.81, a P/E/G ratio of 3.30 and a beta of 1.29. Gartner, Inc. has a one year low of $409.50 and a one year high of $584.01. The business's 50-day simple moving average is $501.11 and its two-hundred day simple moving average is $507.61. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06.

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

Analysts Set New Price Targets

IT has been the topic of several analyst reports. Morgan Stanley dropped their target price on Gartner from $564.00 to $555.00 and set an "equal weight" rating on the stock in a report on Thursday, January 16th. Robert W. Baird dropped their price objective on shares of Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a research note on Friday. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Gartner in a report on Tuesday, February 4th. Wells Fargo & Company cut their price objective on shares of Gartner from $470.00 to $460.00 and set an "underweight" rating on the stock in a report on Friday, January 10th. Finally, Barclays upgraded Gartner from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $525.00 to $600.00 in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Gartner has a consensus rating of "Hold" and an average price target of $546.63.

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.