First Trust Advisors LP Raises Holdings in Gartner, Inc. (NYSE:IT)

First Trust Advisors LP boosted its holdings in shares of Gartner, Inc. (NYSE:IT) by 108.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,772 shares of the information technology services provider’s stock after acquiring an additional 23,815 shares during the quarter. First Trust Advisors LP owned about 0.06% of Gartner worth $22,175,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Kestra Investment Management LLC acquired a new stake in Gartner in the 4th quarter valued at approximately $29,000. SBI Securities Co. Ltd. acquired a new stake in shares of Gartner in the fourth quarter valued at $49,000. Promus Capital LLC acquired a new stake in shares of Gartner in the fourth quarter valued at $57,000. Hurley Capital LLC purchased a new stake in shares of Gartner in the 4th quarter valued at $73,000. Finally, Global Retirement Partners LLC lifted its stake in Gartner by 14.0% during the 4th quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider’s stock worth $134,000 after acquiring an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In other news, SVP John J. Rinello sold 90 shares of Gartner stock in a transaction on Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the transaction, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at $1,728,932.09. The trade was a 2.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eileen Serra sold 1,200 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the sale, the director now owns 1,627 shares of the company’s stock, valued at approximately $796,855.79. This represents a 42.45 % decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

IT has been the topic of several research reports. Wells Fargo & Company reduced their price target on shares of Gartner from $488.00 to $401.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 9th. Barclays reduced their target price on shares of Gartner from $510.00 to $475.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. The Goldman Sachs Group reiterated a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. Finally, Robert W. Baird cut their price target on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Gartner has a consensus rating of “Hold” and an average price target of $513.63.

Gartner Stock Down 0.4 %

Gartner stock opened at $416.37 on Friday. The stock’s fifty day moving average is $437.85 and its two-hundred day moving average is $489.25. The stock has a market cap of $31.98 billion, a PE ratio of 25.97, a P/E/G ratio of 3.30 and a beta of 1.26. Gartner, Inc. has a 1-year low of $366.05 and a 1-year high of $584.01. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, topping the consensus estimate of $3.22 by $2.23. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the company earned $3.04 EPS. On average, sell-side analysts expect that Gartner, Inc. will post 12.5 EPS 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.