Worldquant Millennium Advisors LLC Sells 19,752 Shares of Gartner, Inc. (NYSE:IT)

Worldquant Millennium Advisors LLC lowered its position in shares of Gartner, Inc. (NYSE:IT) by 15.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 111,709 shares of the information technology services provider’s stock after selling 19,752 shares during the quarter. Worldquant Millennium Advisors LLC owned about 0.14% of Gartner worth $56,610,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Wahed Invest LLC grew its position in shares of Gartner by 9.8% during the 3rd quarter. Wahed Invest LLC now owns 1,829 shares of the information technology services provider’s stock worth $927,000 after purchasing an additional 164 shares in the last quarter. State Street Corp raised its position in shares of Gartner by 1.1% in the third quarter. State Street Corp now owns 3,257,355 shares of the information technology services provider’s stock valued at $1,650,697,000 after buying an additional 36,258 shares in the last quarter. Stevens Capital Management LP bought a new stake in shares of Gartner in the third quarter valued at approximately $385,000. Stifel Financial Corp grew its position in Gartner by 13.7% during the third quarter. Stifel Financial Corp now owns 47,911 shares of the information technology services provider’s stock worth $24,280,000 after buying an additional 5,759 shares in the last quarter. Finally, Quadrature Capital Ltd increased its stake in Gartner by 78.3% during the 3rd quarter. Quadrature Capital Ltd now owns 3,465 shares of the information technology services provider’s stock worth $1,755,000 after acquiring an additional 1,522 shares during the period. 91.51% of the stock is owned by institutional investors.

Gartner Stock Performance

Shares of Gartner stock opened at $516.67 on Friday. The company’s 50 day moving average price is $521.35 and its two-hundred day moving average price is $485.71. The firm has a market capitalization of $39.85 billion, a P/E ratio of 38.10, a P/E/G ratio of 3.22 and a beta of 1.31. Gartner, Inc. has a fifty-two week low of $411.15 and a fifty-two week high of $559.00. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.05. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. Gartner’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $2.56 EPS. On average, equities analysts forecast that Gartner, Inc. will post 11.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on IT shares. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Robert W. Baird increased their price objective on shares of Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Wells Fargo & Company boosted their target price on shares of Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. Barclays increased their price target on shares of Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Gartner currently has a consensus rating of “Hold” and an average price target of $539.25.

Insider Transactions at Gartner

In other Gartner news, Director James C. Smith sold 2,128 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $500.15, for a total value of $1,064,319.20. Following the sale, the director now owns 572,090 shares in the company, valued at approximately $286,130,813.50. The trade was a 0.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Claire Herkes sold 411 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total transaction of $214,229.64. Following the sale, the executive vice president now directly owns 1,494 shares of the company’s stock, valued at $778,732.56. This represents a 21.57 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,560 shares of company stock worth $37,909,141. Insiders own 3.60% of the company’s stock.

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.