PFG Advisors Increases Position in Gartner, Inc. (NYSE:IT)

PFG Advisors lifted its position in shares of Gartner, Inc. (NYSE:IT) by 48.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 3,648 shares of the information technology services provider’s stock after buying an additional 1,186 shares during the period. PFG Advisors’ holdings in Gartner were worth $1,767,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. HighTower Advisors LLC lifted its stake in shares of Gartner by 10.2% during the fourth quarter. HighTower Advisors LLC now owns 30,313 shares of the information technology services provider’s stock valued at $14,686,000 after buying an additional 2,805 shares during the period. Citizens Financial Group Inc. RI lifted its stake in shares of Gartner by 26.4% during the fourth quarter. Citizens Financial Group Inc. RI now owns 1,197 shares of the information technology services provider’s stock valued at $580,000 after buying an additional 250 shares during the period. Independent Advisor Alliance increased its position in Gartner by 28.8% during the fourth quarter. Independent Advisor Alliance now owns 1,097 shares of the information technology services provider’s stock worth $531,000 after purchasing an additional 245 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Gartner by 7.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 10,505 shares of the information technology services provider’s stock worth $5,089,000 after purchasing an additional 687 shares during the last quarter. Finally, AlphaQuest LLC acquired a new position in Gartner during the fourth quarter worth approximately $2,902,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Activity at Gartner

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

Gartner Price Performance

Gartner stock opened at $459.29 on Thursday. Gartner, Inc. has a 52-week low of $411.15 and a 52-week high of $584.01. The firm has a fifty day moving average of $509.21 and a 200-day moving average of $510.21. The firm has a market capitalization of $35.28 billion, a P/E ratio of 28.65, a PEG ratio of 3.30 and a beta of 1.29. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81.

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

Analysts Set New Price Targets

Several equities analysts recently commented on IT shares. Morgan Stanley dropped their price target on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, March 5th. Wells Fargo & Company dropped their price target on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research report on Friday, January 10th. Robert W. Baird upped their price target on shares of Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. Finally, Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $525.00 to $600.00 in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Gartner currently has an average rating of “Moderate Buy” and an average price target of $552.63.

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.