First Trust Direct Indexing L.P. Acquires 163 Shares of Gartner, Inc. (NYSE:IT)

First Trust Direct Indexing L.P. increased its holdings in shares of Gartner, Inc. (NYSE:IT) by 10.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,713 shares of the information technology services provider’s stock after buying an additional 163 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Gartner were worth $773,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of IT. OFI Invest Asset Management acquired a new stake in shares of Gartner during the 3rd quarter valued at $25,000. BKM Wealth Management LLC bought a new position in shares of Gartner during the fourth quarter valued at $26,000. MCF Advisors LLC acquired a new position in shares of Gartner during the fourth quarter worth $27,000. VisionPoint Advisory Group LLC grew its stake in shares of Gartner by 254.2% in the third quarter. VisionPoint Advisory Group LLC now owns 85 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 61 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in Gartner by 357.9% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 87 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 68 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Gartner Trading Up 2.3 %

Shares of IT stock opened at $428.64 on Friday. The company has a 50 day moving average of $462.52 and a 200-day moving average of $440.89. Gartner, Inc. has a 12-month low of $295.43 and a 12-month high of $486.54. The firm has a market cap of $33.42 billion, a P/E ratio of 42.65, a PEG ratio of 3.44 and a beta of 1.32. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.42.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.40. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Gartner had a net margin of 13.35% and a return on equity of 141.55%. Gartner’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.88 EPS. Sell-side analysts anticipate that Gartner, Inc. will post 11.55 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on IT. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a report on Thursday. UBS Group dropped their price target on Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a research note on Wednesday. Robert W. Baird reduced their price objective on shares of Gartner from $536.00 to $517.00 and set an “outperform” rating for the company in a research report on Wednesday. Morgan Stanley lifted their price objective on shares of Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Gartner in a report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price target for the company. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Gartner currently has a consensus rating of “Moderate Buy” and a consensus target price of $474.50.

Insider Transactions at Gartner

In related news, EVP Claire Herkes sold 1,460 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $475.76, for a total value of $694,609.60. Following the sale, the executive vice president now directly owns 2,842 shares of the company’s stock, valued at $1,352,109.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Gartner news, EVP Akhil Jain sold 250 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $464.55, for a total value of $116,137.50. Following the completion of the sale, the executive vice president now owns 5,239 shares in the company, valued at approximately $2,433,777.45. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Claire Herkes sold 1,460 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $475.76, for a total transaction of $694,609.60. Following the completion of the transaction, the executive vice president now directly owns 2,842 shares of the company’s stock, valued at $1,352,109.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,952 shares of company stock valued at $10,598,070. 3.60% of the stock is currently owned by company insiders.

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.