Abacus FCF Advisors LLC Has $2.44 Million Stock Holdings in Gartner, Inc. (NYSE:IT)

Abacus FCF Advisors LLC lowered its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 29.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,813 shares of the information technology services provider's stock after selling 2,380 shares during the period. Abacus FCF Advisors LLC's holdings in Gartner were worth $2,440,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Cary Street Partners Financial LLC purchased a new stake in shares of Gartner during the 4th quarter worth approximately $27,000. Kestra Investment Management LLC purchased a new position in shares of Gartner during the fourth quarter worth about $29,000. Itau Unibanco Holding S.A. grew its position in Gartner by 453.3% in the fourth quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider's stock worth $40,000 after acquiring an additional 68 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Gartner in the fourth quarter worth $49,000. Finally, Promus Capital LLC purchased a new stake in Gartner in the fourth quarter worth approximately $57,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Gartner Trading Down 2.2%

IT stock traded down $9.04 during trading on Friday, reaching $404.55. 558,766 shares of the stock traded hands, compared to its average volume of 476,468. 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, Inc. has a 52-week low of $366.05 and a 52-week high of $584.01. The business's 50 day moving average price is $423.28 and its 200-day moving average price is $466.91. The firm has a market capitalization of $31.14 billion, a PE ratio of 25.24, a P/E/G ratio of 3.30 and a beta of 1.23.

Gartner (NYSE:IT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, beating analysts' consensus estimates of $2.72 by $0.26. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the business posted $2.93 earnings per share. Gartner's revenue for the quarter was up 4.2% on a year-over-year basis. As a group, sell-side analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on IT. Robert W. Baird dropped their price objective on Gartner from $605.00 to $557.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. UBS Group lifted their price objective on Gartner from $500.00 to $525.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. The Goldman Sachs Group cut their price target on Gartner from $622.00 to $535.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Wall Street Zen downgraded shares of Gartner from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Finally, Wells Fargo & Company lowered their price target on shares of Gartner from $401.00 to $400.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Gartner presently has an average rating of "Hold" and a consensus price target of $518.67.

Insider Activity at Gartner

In other news, SVP John J. Rinello sold 109 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $436.35, for a total transaction of $47,562.15. Following the sale, the senior vice president now owns 3,280 shares in the company, valued at $1,431,228. The trade was a 3.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Craig Safian sold 3,415 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $450.17, for a total transaction of $1,537,330.55. Following the completion of the transaction, the chief financial officer now owns 77,890 shares in the company, valued at approximately $35,063,741.30. This represents a 4.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,426 shares of company stock worth $2,430,327 in the last ninety days. 3.60% of the stock is owned by insiders.

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.