PFG Advisors Has $1.11 Million Stake in Gartner, Inc. (NYSE:IT)

PFG Advisors raised its holdings in Gartner, Inc. (NYSE:IT) by 3.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,474 shares of the information technology services provider’s stock after acquiring an additional 92 shares during the quarter. PFG Advisors’ holdings in Gartner were worth $1,111,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TCW Group Inc. boosted its holdings in shares of Gartner by 4.0% in the 4th quarter. TCW Group Inc. now owns 199,062 shares of the information technology services provider’s stock valued at $89,800,000 after buying an additional 7,639 shares during the last quarter. Russell Investments Group Ltd. raised its position in Gartner by 11.4% during the first quarter. Russell Investments Group Ltd. now owns 25,063 shares of the information technology services provider’s stock worth $11,987,000 after acquiring an additional 2,560 shares in the last quarter. Icon Wealth Advisors LLC acquired a new stake in Gartner in the fourth quarter valued at $2,093,000. Madison Asset Management LLC grew its position in shares of Gartner by 2.8% in the 4th quarter. Madison Asset Management LLC now owns 344,657 shares of the information technology services provider’s stock valued at $155,478,000 after acquiring an additional 9,538 shares during the period. Finally, TFO Wealth Partners LLC grew its position in shares of Gartner by 3,456.6% in the 4th quarter. TFO Wealth Partners LLC now owns 2,703 shares of the information technology services provider’s stock valued at $1,219,000 after acquiring an additional 2,627 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Price Performance

Shares of NYSE IT opened at $510.56 on Friday. The firm has a market cap of $39.34 billion, a P/E ratio of 50.80, a price-to-earnings-growth ratio of 3.89 and a beta of 1.32. The business’s 50 day moving average is $475.84 and its 200-day moving average is $460.31. 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 1-year low of $323.61 and a 1-year high of $510.98.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $3.02 by $0.20. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the firm posted $2.85 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts predict that Gartner, Inc. will post 11.59 earnings per share for the current year.

Insider Buying and Selling

In other Gartner news, Director James C. Smith sold 2,128 shares of Gartner stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $500.15, for a total value of $1,064,319.20. Following the completion of the sale, the director now owns 572,090 shares in the company, valued at approximately $286,130,813.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Gartner news, Director James C. Smith sold 2,128 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $500.15, for a total transaction of $1,064,319.20. Following the transaction, the director now owns 572,090 shares in the company, valued at approximately $286,130,813.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Alwyn Dawkins sold 1,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $505.49, for a total value of $505,490.00. Following the sale, the executive vice president now owns 56,650 shares of the company’s stock, valued at $28,636,008.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,626 shares of company stock valued at $15,145,217. 3.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IT. Robert W. Baird raised their target price on shares of Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Morgan Stanley raised their price objective on Gartner from $440.00 to $470.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. Wells Fargo & Company upgraded Gartner to a “strong sell” rating in a research note on Tuesday, August 13th. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, BMO Capital Markets lifted their price objective on shares of Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $521.00.

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.