Virtu Financial LLC Invests $1.22 Million in Gartner, Inc. (NYSE:IT)

Virtu Financial LLC acquired a new position in shares of Gartner, Inc. (NYSE:IT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,400 shares of the information technology services provider’s stock, valued at approximately $1,216,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp boosted its position in Gartner by 1.1% during 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 during the period. Geode Capital Management LLC boosted its holdings in Gartner by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,018,358 shares of the information technology services provider’s stock valued at $1,020,378,000 after acquiring an additional 36,698 shares during the period. Principal Financial Group Inc. grew its position in Gartner by 5.5% during the 3rd quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock worth $1,014,099,000 after acquiring an additional 103,814 shares during the last quarter. Sustainable Growth Advisers LP purchased a new position in Gartner in the 2nd quarter worth approximately $266,541,000. Finally, Dimensional Fund Advisors LP lifted its position in Gartner by 10.8% in the second quarter. Dimensional Fund Advisors LP now owns 585,026 shares of the information technology services provider’s stock valued at $262,706,000 after purchasing an additional 56,908 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Morgan Stanley raised their target price on shares of Gartner from $560.00 to $564.00 and gave the stock an “equal weight” rating in a report on Thursday. Barclays raised their target price on Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. Robert W. Baird upped their price target on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. StockNews.com upgraded Gartner from a “hold” rating to a “buy” 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 company a “hold” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $543.75.

Insider Buying and Selling

In other Gartner news, Director James C. Smith sold 17,533 shares of Gartner stock in a transaction on Friday, November 8th. The stock was sold at an average price of $547.09, for a total transaction of $9,592,128.97. Following the completion of the transaction, the director now owns 532,294 shares in the company, valued at approximately $291,212,724.46. The trade was a 3.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Claire Herkes sold 411 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $521.24, for a total value of $214,229.64. Following the completion of the sale, the executive vice president now directly owns 1,494 shares in the company, valued at approximately $778,732.56. This represents a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,583 shares of company stock valued at $19,241,974 over the last quarter. Corporate insiders own 3.60% of the company’s stock.

Gartner Trading Down 1.1 %

IT opened at $508.46 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31. Gartner, Inc. has a 52 week low of $411.15 and a 52 week high of $559.00. The stock has a market cap of $39.22 billion, a PE ratio of 37.50, a PEG ratio of 3.24 and a beta of 1.31. The business has a 50 day moving average of $522.13 and a 200-day moving average of $488.51.

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

About Gartner

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.