Renaissance Technologies LLC Sells 72,300 Shares of Gartner, Inc. (NYSE:IT)

Renaissance Technologies LLC lessened its holdings in Gartner, Inc. (NYSE:IT) by 98.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,009 shares of the information technology services provider’s stock after selling 72,300 shares during the quarter. Renaissance Technologies LLC’s holdings in Gartner were worth $453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in IT. Central Pacific Bank Trust Division purchased a new stake in shares of Gartner during the 1st quarter valued at approximately $36,000. Crewe Advisors LLC boosted its holdings in shares of Gartner by 223.3% in the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock worth $44,000 after acquiring an additional 67 shares during the period. J.Safra Asset Management Corp grew its position in shares of Gartner by 58.7% in 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 in the last quarter. Rothschild Investment LLC bought a new stake in shares of Gartner during the 2nd quarter valued at $94,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Gartner by 16.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 275 shares of the information technology services provider’s stock worth $131,000 after purchasing an additional 38 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Gartner

In other Gartner news, CEO Eugene A. Hall sold 34,060 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the completion of the transaction, the chief executive officer now owns 1,143,401 shares of the company’s stock, valued at approximately $577,874,865.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Eugene A. Hall sold 12,082 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $504.84, for a total transaction of $6,099,476.88. Following the completion of the transaction, the chief executive officer now directly owns 1,143,389 shares in the company, valued at $577,228,502.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eugene A. Hall sold 34,060 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the completion of the transaction, the chief executive officer now owns 1,143,401 shares in the company, valued at approximately $577,874,865.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,164 shares of company stock valued at $32,601,014. 3.60% of the stock is currently owned by corporate insiders.

Gartner Stock Performance

Shares of NYSE:IT opened at $518.72 on Friday. The company has a 50-day moving average price of $494.50 and a 200-day moving average price of $465.97. The company has a market cap of $40.27 billion, a price-to-earnings ratio of 51.61, a price-to-earnings-growth ratio of 3.21 and a beta of 1.32. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 3.80. Gartner, Inc. has a 12 month low of $323.61 and a 12 month high of $522.00.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.20. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the firm earned $2.85 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, equities analysts anticipate that Gartner, Inc. will post 11.65 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on IT shares. Bank of America raised their price target on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Wells Fargo & Company upgraded Gartner to a “strong sell” rating in a research report on Tuesday, August 13th. UBS Group raised their price target on Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Robert W. Baird boosted their price objective on Gartner from $517.00 to $565.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $529.29.

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.