AXQ Capital LP Sells 382 Shares of Gartner, Inc. (NYSE:IT)

AXQ Capital LP reduced its stake in Gartner, Inc. (NYSE:IT) by 19.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,579 shares of the information technology services provider’s stock after selling 382 shares during the period. AXQ Capital LP’s holdings in Gartner were worth $765,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. American Century Companies Inc. lifted its holdings in Gartner by 0.3% during the 4th quarter. American Century Companies Inc. now owns 341,958 shares of the information technology services provider’s stock valued at $165,668,000 after purchasing an additional 1,045 shares during the last quarter. Mizuho Securities USA LLC increased its holdings in shares of Gartner by 46.3% during the fourth quarter. Mizuho Securities USA LLC now owns 7,311 shares of the information technology services provider’s stock worth $3,542,000 after buying an additional 2,314 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Gartner during the fourth quarter worth approximately $6,756,000. iA Global Asset Management Inc. raised its stake in shares of Gartner by 10.4% in the fourth quarter. iA Global Asset Management Inc. now owns 4,392 shares of the information technology services provider’s stock valued at $2,128,000 after acquiring an additional 415 shares during the last quarter. Finally, Magnetar Financial LLC acquired a new position in shares of Gartner in the 4th quarter worth approximately $4,862,000. Institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling at Gartner

In other news, 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 transaction of $47,745.90. Following the completion of the sale, the senior vice president now owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eileen Serra sold 1,200 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the transaction, the director now owns 1,627 shares in the company, valued at $796,855.79. This trade represents a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on IT. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research report on Friday. Wells Fargo & Company lowered their price objective on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research report on Friday, January 10th. Morgan Stanley dropped their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Robert W. Baird reduced their target price on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a report on Friday. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $546.63.

Gartner Stock Up 2.7 %

NYSE:IT opened at $430.03 on Friday. The firm has a market capitalization of $33.03 billion, a price-to-earnings ratio of 26.83, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29. 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, Inc. has a twelve month low of $409.50 and a twelve month high of $584.01. The stock’s 50 day moving average price is $502.37 and its two-hundred day moving average price is $507.66.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $2.23. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.04 earnings per share. Equities research analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

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.