Renaissance Technologies LLC Lowers Holdings in Gartner, Inc. (NYSE:IT)

Renaissance Technologies LLC lessened its stake in Gartner, Inc. (NYSE:IT - Free Report) by 22.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor 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.

Several other institutional investors also recently bought and sold shares of the stock. FIL Ltd lifted its position 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 during the last quarter. Invesco Ltd. increased its stake in Gartner by 6.7% during the fourth quarter. Invesco Ltd. now owns 955,134 shares of the information technology services provider's stock worth $462,734,000 after acquiring an additional 60,306 shares during the last quarter. FMR LLC raised its position in Gartner by 8.6% during the fourth quarter. FMR LLC now owns 2,822,122 shares of the information technology services provider's stock valued at $1,367,233,000 after purchasing an additional 223,087 shares during the period. 2Xideas AG lifted its stake in shares of Gartner by 45.0% in the 4th quarter. 2Xideas AG now owns 24,776 shares of the information technology services provider's stock valued at $12,003,000 after purchasing an additional 7,687 shares during the last quarter. Finally, Unigestion Holding SA boosted its holdings in shares of Gartner by 2.0% in the 4th quarter. Unigestion Holding SA now owns 48,424 shares of the information technology services provider's stock worth $23,460,000 after purchasing an additional 970 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Stock Down 0.1 %

Shares of IT stock traded down $0.60 on Friday, hitting $401.69. The stock had a trading volume of 443,428 shares, compared to its average volume of 449,915. The business has a 50 day moving average price of $451.04 and a 200 day moving average price of $493.50. Gartner, Inc. has a one year low of $366.05 and a one year high of $584.01. The company has a market cap of $30.86 billion, a PE ratio of 25.06, a P/E/G ratio of 3.30 and a beta of 1.26. 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 - Get Free Report) last posted its earnings results 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 company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the prior year, the business earned $3.04 earnings per share. Gartner's revenue was up 8.1% on a year-over-year basis. Research analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on IT shares. Morgan Stanley decreased their price target on Gartner from $564.00 to $555.00 and set an "equal weight" rating on the stock in a report on Thursday, January 16th. Barclays lowered their target price on shares of Gartner from $600.00 to $510.00 and set an "overweight" rating for the company in a report on Friday, April 4th. UBS Group reduced their price objective on shares of Gartner from $565.00 to $500.00 and set a "buy" rating on the stock in a research report on Tuesday, March 25th. The Goldman Sachs Group restated a "buy" rating on shares of Gartner in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company decreased their price target on Gartner from $488.00 to $401.00 and set an "underweight" rating for the company in a research note on Wednesday, April 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $518.00.

Insider Buying and Selling at Gartner

In other Gartner news, Director Eileen Serra sold 1,200 shares of the firm's stock in a transaction 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 completion of the transaction, the director now owns 1,627 shares of the company's stock, valued at approximately $796,855.79. This trade represents a 42.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP John J. Rinello sold 90 shares of the business's stock in a transaction 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 sale, the senior vice president now directly owns 3,259 shares in the company, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.60% of the stock is owned by insiders.

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.