Arkadios Wealth Advisors Acquires 4,352 Shares of Gartner, Inc. (NYSE:IT)

Key Points

• Arkadios Wealth Advisors increased its stake in Gartner, Inc. by 171.1%, owning 6,896 shares worth $2.895 million as of the end of the first quarter.
• Insider transactions revealed that CFO Craig Safian sold 3,415 shares at an average price of $450.17, resulting in a decrease in his position by 4.20%.
• Gartner's recent quarterly earnings exceeded expectations with an EPS of $2.98 compared to an estimate of $2.72, and its revenue was reported at $1.54 billion.

Arkadios Wealth Advisors increased its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 171.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 6,896 shares of the information technology services provider's stock after buying an additional 4,352 shares during the period. Arkadios Wealth Advisors' holdings in Gartner were worth $2,895,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC boosted its holdings in Gartner by 8.6% in the 4th quarter. FMR LLC now owns 2,822,122 shares of the information technology services provider's stock valued at $1,367,233,000 after purchasing an additional 223,087 shares during the period. Geode Capital Management LLC boosted its holdings in Gartner by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 2,063,577 shares of the information technology services provider's stock valued at $998,400,000 after purchasing an additional 45,219 shares during the period. Invesco Ltd. boosted its holdings in Gartner by 6.7% in the 4th quarter. Invesco Ltd. now owns 955,134 shares of the information technology services provider's stock valued at $462,734,000 after purchasing an additional 60,306 shares during the period. Northern Trust Corp boosted its holdings in Gartner by 10.9% in the 4th quarter. Northern Trust Corp now owns 906,833 shares of the information technology services provider's stock valued at $439,333,000 after purchasing an additional 88,800 shares during the period. Finally, Sustainable Growth Advisers LP boosted its holdings in Gartner by 26.3% in the 1st quarter. Sustainable Growth Advisers LP now owns 676,325 shares of the information technology services provider's stock valued at $283,881,000 after purchasing an additional 140,898 shares during the period. Institutional investors own 91.51% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on IT shares. UBS Group cut their price objective on shares of Gartner from $500.00 to $480.00 and set a "buy" rating for the company in a report on Tuesday, July 15th. The Goldman Sachs Group decreased their price objective on shares of Gartner from $622.00 to $535.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Barclays lowered their price objective on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Morgan Stanley lowered their price objective on shares of Gartner from $490.00 to $455.00 and set an "equal weight" rating for the company in a research report on Thursday. Finally, Wells Fargo & Company lowered their price objective on shares of Gartner from $400.00 to $345.00 and set an "underweight" rating for the company in a research report on Friday, July 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $482.57.

Insider Buying and Selling at Gartner

In related news, EVP Akhil Jain sold 625 shares of the company's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $450.00, for a total transaction of $281,250.00. Following the completion of the transaction, the executive vice president directly owned 6,548 shares in the company, valued at $2,946,600. This represents a 8.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William James Wartinbee III sold 538 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $449.09, for a total transaction of $241,610.42. Following the transaction, the executive vice president owned 7,965 shares of the company's stock, valued at approximately $3,577,001.85. This represents a 6.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,426 shares of company stock worth $2,430,327 over the last 90 days. 2.30% of the stock is owned by corporate insiders.

Gartner Price Performance

IT traded down $10.06 during trading on Friday, hitting $328.59. 1,286,149 shares of the stock traded hands, compared to its average volume of 836,806. The business has a 50 day moving average price of $393.52 and a 200 day moving average price of $437.88. The company has a market cap of $25.29 billion, a price-to-earnings ratio of 20.45 and a beta of 1.19. Gartner, Inc. has a twelve month low of $326.93 and a twelve month high of $584.01. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.09 and a quick ratio of 1.09.

Gartner (NYSE:IT - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.72 by $0.26. The business had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.53 billion. Gartner had a net margin of 19.82% and a return on equity of 96.70%. The firm's quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.93 EPS. Equities research analysts forecast that Gartner, Inc. will post 12.5 earnings per share 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.