DRW Securities LLC Sells 309 Shares of Gartner, Inc. (NYSE:IT)

DRW Securities LLC trimmed its holdings in shares of Gartner, Inc. (NYSE:IT) by 40.8% during the 3rd quarter, Holdings Channel reports. The fund owned 449 shares of the information technology services provider’s stock after selling 309 shares during the period. DRW Securities LLC’s holdings in Gartner were worth $228,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Transcend Capital Advisors LLC bought a new position in shares of Gartner during the second quarter valued at approximately $512,000. Tidal Investments LLC lifted its holdings in Gartner by 24.4% during the first quarter. Tidal Investments LLC now owns 9,890 shares of the information technology services provider’s stock worth $4,717,000 after buying an additional 1,940 shares during the period. Swedbank AB purchased a new stake in Gartner during the first quarter worth $30,735,000. Cetera Investment Advisers boosted its position in Gartner by 245.0% during the 1st quarter. Cetera Investment Advisers now owns 21,453 shares of the information technology services provider’s stock valued at $10,226,000 after acquiring an additional 15,235 shares in the last quarter. Finally, Choreo LLC purchased a new position in shares of Gartner in the 2nd quarter valued at $722,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Trading Down 0.7 %

NYSE:IT opened at $519.23 on Thursday. The company has a market capitalization of $40.05 billion, a P/E ratio of 38.58, a PEG ratio of 3.24 and a beta of 1.32. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. Gartner, Inc. has a 12 month low of $411.15 and a 12 month high of $559.00. The firm has a fifty day simple moving average of $520.55 and a 200-day simple moving average of $482.61.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.05. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.56 EPS. On average, equities research analysts anticipate that Gartner, Inc. will post 11.89 earnings per share for the current year.

Insider Activity at Gartner

In related news, EVP Akhil Jain sold 500 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $492.00, for a total transaction of $246,000.00. Following the completion of the transaction, the executive vice president now directly owns 4,339 shares in the company, valued at $2,134,788. The trade was a 10.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James C. Smith sold 2,450 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $554.68, for a total value of $1,358,966.00. Following the sale, the director now directly owns 529,844 shares in the company, valued at $293,893,869.92. This represents a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,149 shares of company stock worth $37,694,911 over the last quarter. Insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on IT shares. BMO Capital Markets upped their price objective on Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Barclays increased their price target on shares of Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Wells Fargo & Company raised their target price on shares of Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a research note on Wednesday, November 6th. Finally, Robert W. Baird lifted their price target on shares of Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Gartner has a consensus rating of “Hold” and a consensus price target of $539.25.

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.