Financial Advisors Network Inc. Buys 4,085 Shares of Gartner, Inc. $IT

Key Points

• Financial Advisors Network Inc. significantly increased its stake in Gartner, Inc. by 411.8%, acquiring an additional 4,085 shares in the first quarter, bringing its total holdings to 5,077 shares valued at $2,131,000.
• Analysts have set new target prices for Gartner, with Wells Fargo reducing its price target from $345 to $225, while Goldman Sachs decreased its target from $535 to $457.
• In the most recent quarterly earnings report, Gartner reported $3.53 earnings per share, exceeding the consensus estimate of $3.38, despite revenue falling slightly short of expectations at $1.66 billion.

Financial Advisors Network Inc. increased its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 411.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,077 shares of the information technology services provider's stock after purchasing an additional 4,085 shares during the quarter. Financial Advisors Network Inc.'s holdings in Gartner were worth $2,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Cary Street Partners Financial LLC bought a new stake in shares of Gartner in the 4th quarter worth approximately $27,000. Itau Unibanco Holding S.A. boosted its position in shares of Gartner by 453.3% in the 4th quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider's stock worth $40,000 after purchasing an additional 68 shares in the last quarter. Olde Wealth Management LLC bought a new stake in shares of Gartner in the 1st quarter worth approximately $42,000. GW&K Investment Management LLC boosted its position in shares of Gartner by 210.8% in the 1st quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider's stock worth $48,000 after purchasing an additional 78 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new stake in shares of Gartner in the 1st quarter worth approximately $55,000. 91.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IT has been the subject of a number of research reports. Wells Fargo & Company decreased their target price on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a research note on Wednesday, August 6th. The Goldman Sachs Group dropped their target price on shares of Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. BMO Capital Markets dropped their price objective on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating for the company in a report on Wednesday, August 6th. Barclays decreased their target price on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 6th. Finally, UBS Group reissued a "neutral" rating and issued a $270.00 price objective (down from $480.00) on shares of Gartner in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $369.25.

Gartner Stock Performance

NYSE:IT opened at $238.75 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61. Gartner, Inc. has a fifty-two week low of $223.65 and a fifty-two week high of $584.01. The stock has a market cap of $18.38 billion, a PE ratio of 14.69 and a beta of 1.19. The firm's fifty day simple moving average is $356.35 and its 200-day simple moving average is $417.02.

Gartner (NYSE:IT - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.38 by $0.15. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The company had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same period last year, the company earned $3.22 EPS. The firm's revenue for the quarter was up 5.7% compared to the same quarter last year. Analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

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.

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