First Trust Direct Indexing L.P. Purchases 202 Shares of Gartner, Inc. (NYSE:IT)

First Trust Direct Indexing L.P. increased its position in shares of Gartner, Inc. (NYSE:IT) by 11.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,915 shares of the information technology services provider’s stock after buying an additional 202 shares during the period. First Trust Direct Indexing L.P.’s holdings in Gartner were worth $913,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Morgan Stanley raised its position in shares of Gartner by 4.6% in the 3rd quarter. Morgan Stanley now owns 2,157,075 shares of the information technology services provider’s stock worth $741,193,000 after acquiring an additional 95,040 shares in the last quarter. Wellington Management Group LLP lifted its stake in Gartner by 12.0% in the fourth quarter. Wellington Management Group LLP now owns 1,852,820 shares of the information technology services provider’s stock valued at $835,826,000 after buying an additional 198,274 shares during the period. Brown Advisory Inc. boosted its holdings in shares of Gartner by 4.6% during the 4th quarter. Brown Advisory Inc. now owns 1,208,914 shares of the information technology services provider’s stock worth $545,353,000 after buying an additional 52,826 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Gartner by 18.5% during the 4th quarter. Franklin Resources Inc. now owns 920,716 shares of the information technology services provider’s stock worth $415,344,000 after buying an additional 143,556 shares during the period. Finally, Norges Bank acquired a new stake in shares of Gartner in the 4th quarter valued at about $388,781,000. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft started coverage on Gartner in a report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price target on the stock. UBS Group lowered their price objective on shares of Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. BMO Capital Markets reduced their price objective on shares of Gartner from $450.00 to $432.00 and set a “market perform” rating for the company in a report on Thursday, May 2nd. StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a research report on Saturday, June 29th. Finally, Robert W. Baird cut their price target on Gartner from $536.00 to $517.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $474.50.

Insider Buying and Selling at Gartner

In related news, Director James C. Smith sold 10,000 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $455.20, for a total value of $4,552,000.00. Following the transaction, the director now directly owns 608,369 shares of the company’s stock, valued at approximately $276,929,568.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director James C. Smith sold 10,000 shares of Gartner stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $455.20, for a total value of $4,552,000.00. Following the sale, the director now owns 608,369 shares of the company’s stock, valued at approximately $276,929,568.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anne Sutherland Fuchs sold 705 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $428.99, for a total value of $302,437.95. Following the transaction, the director now directly owns 8,524 shares of the company’s stock, valued at $3,656,710.76. The disclosure for this sale can be found here. Insiders sold 22,544 shares of company stock worth $10,079,813 in the last quarter. 3.60% of the stock is currently owned by company insiders.

Gartner Trading Up 0.4 %

Shares of IT stock opened at $447.75 on Friday. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $34.76 billion, a price-to-earnings ratio of 44.55, a PEG ratio of 3.92 and a beta of 1.33. Gartner, Inc. has a 52-week low of $323.61 and a 52-week high of $486.54. The company has a 50-day simple moving average of $438.93 and a two-hundred day simple moving average of $451.95.

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

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.