PFG Advisors Purchases 1,404 Shares of Gartner, Inc. (NYSE:IT)

PFG Advisors raised its stake in Gartner, Inc. (NYSE:IT - Free Report) by 38.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,052 shares of the information technology services provider's stock after buying an additional 1,404 shares during the period. PFG Advisors' holdings in Gartner were worth $2,121,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Gartner during the fourth quarter worth approximately $460,541,000. GAMMA Investing LLC raised its position in Gartner by 40,841.0% in the 1st quarter. GAMMA Investing LLC now owns 499,071 shares of the information technology services provider's stock worth $209,480,000 after purchasing an additional 497,852 shares during the period. BNP Paribas Financial Markets raised its position in Gartner by 184.6% in the 4th quarter. BNP Paribas Financial Markets now owns 390,472 shares of the information technology services provider's stock worth $189,172,000 after purchasing an additional 253,288 shares during the period. FMR LLC raised its position 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 worth $1,367,233,000 after purchasing an additional 223,087 shares during the period. Finally, Millennium Management LLC raised its position in Gartner by 178.0% in the 4th quarter. Millennium Management LLC now owns 297,277 shares of the information technology services provider's stock worth $144,022,000 after purchasing an additional 190,326 shares during the period. Institutional investors own 91.51% of the company's stock.

Gartner Trading Up 0.2%

NYSE IT traded up $0.69 on Friday, hitting $356.83. The company's stock had a trading volume of 753,801 shares, compared to its average volume of 867,332. Gartner, Inc. has a 52-week low of $352.29 and a 52-week high of $584.01. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.64. The company's 50-day simple moving average is $403.72 and its 200 day simple moving average is $442.74. The firm has a market cap of $27.47 billion, a P/E ratio of 22.20, a PEG ratio of 2.31 and a beta of 1.19.

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 for the quarter, topping the consensus estimate of $2.72 by $0.26. Gartner had a return on equity of 96.70% and a net margin of 19.82%. The business had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.53 billion. During the same quarter last year, the business posted $2.93 EPS. The business's revenue was up 4.2% on a year-over-year basis. Research analysts predict that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on IT shares. Barclays decreased their target price on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Wells Fargo & Company decreased their target price on shares of Gartner from $400.00 to $345.00 and set an "underweight" rating on the stock in a research report on Friday, July 18th. The Goldman Sachs Group lowered their price objective on Gartner from $622.00 to $535.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Finally, UBS Group lowered their price objective on Gartner from $500.00 to $480.00 and set a "buy" rating for the company in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $507.56.

Insiders Place Their Bets

In other news, EVP Akhil Jain sold 625 shares of Gartner stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $450.00, for a total transaction of $281,250.00. Following the sale, the executive vice president owned 6,548 shares of the company's stock, valued at approximately $2,946,600. The trade was a 8.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP William James Wartinbee III sold 538 shares of Gartner stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $449.09, for a total transaction of $241,610.42. Following the sale, the executive vice president directly owned 7,965 shares in the company, valued at $3,577,001.85. The trade was a 6.33% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,426 shares of company stock worth $2,430,327. Insiders own 2.30% of the company's stock.

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.