DRW Securities LLC Invests $340,000 in Gartner, Inc. (NYSE:IT)

DRW Securities LLC acquired a new stake in shares of Gartner, Inc. (NYSE:IT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 758 shares of the information technology services provider’s stock, valued at approximately $340,000.

Several other large investors also recently added to or reduced their stakes in IT. Central Pacific Bank Trust Division bought a new stake in shares of Gartner during the 1st quarter valued at about $36,000. Crewe Advisors LLC lifted its position in Gartner by 223.3% during the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after purchasing an additional 67 shares during the last quarter. J.Safra Asset Management Corp lifted its position in Gartner by 58.7% during the first quarter. J.Safra Asset Management Corp now owns 146 shares of the information technology services provider’s stock valued at $70,000 after purchasing an additional 54 shares during the last quarter. Rothschild Investment LLC purchased a new position in Gartner in the 2nd quarter worth approximately $94,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Gartner by 16.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 275 shares of the information technology services provider’s stock worth $131,000 after buying an additional 38 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

IT has been the subject of a number of research analyst reports. Wells Fargo & Company raised shares of Gartner to a “strong sell” rating in a report on Tuesday, August 13th. Bank of America upped their price objective on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. UBS Group upped their target price on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley increased their price target on shares of Gartner from $440.00 to $470.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $521.00.

Gartner Price Performance

IT opened at $516.38 on Tuesday. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.90. The stock’s 50 day simple moving average is $484.29 and its 200 day simple moving average is $462.45. The firm has a market cap of $40.09 billion, a price-to-earnings ratio of 51.38, a PEG ratio of 3.89 and a beta of 1.32. Gartner, Inc. has a 1 year low of $323.61 and a 1 year high of $517.48.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.20. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter last year, the business earned $2.85 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. As a group, analysts predict that Gartner, Inc. will post 11.59 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Akhil Jain sold 400 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $485.00, for a total transaction of $194,000.00. Following the completion of the transaction, the executive vice president now directly owns 4,839 shares of the company’s stock, valued at $2,346,915. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Claire Herkes sold 478 shares of Gartner stock in a transaction on Friday, September 13th. The shares were sold at an average price of $506.01, for a total value of $241,872.78. Following the sale, the executive vice president now owns 1,905 shares in the company, valued at $963,949.05. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Akhil Jain sold 400 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $485.00, for a total transaction of $194,000.00. Following the transaction, the executive vice president now directly owns 4,839 shares in the company, valued at $2,346,915. The disclosure for this sale can be found here. Insiders have sold a total of 65,164 shares of company stock valued at $32,601,014 in the last quarter. Insiders own 3.60% of the company’s stock.

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.