Gartner, Inc. (NYSE:IT) Shares Sold by Advisor Group Holdings Inc.

Posted by Defense World Staff on Jun 1st, 2023

Advisor Group Holdings Inc. lowered its position in shares of Gartner, Inc. (NYSE:IT – Get Rating) by 21.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,176 shares of the information technology services provider’s stock after selling 4,699 shares during the period. Advisor Group Holdings Inc.’s holdings in Gartner were worth $5,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc increased its holdings in Gartner by 105.6% in the 4th quarter. AdvisorNet Financial Inc now owns 74 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 38 shares during the last quarter. Spire Wealth Management boosted its position in Gartner by 4,300.0% in the 4th quarter. Spire Wealth Management now owns 88 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 86 shares during the period. Neo Ivy Capital Management purchased a new position in Gartner in the 3rd quarter valued at approximately $26,000. Altshuler Shaham Ltd purchased a new position in Gartner in the 3rd quarter valued at approximately $31,000. Finally, Vienna Asset Management LLC purchased a new position in Gartner in the 3rd quarter valued at approximately $33,000. Institutional investors and hedge funds own 91.86% of the company’s stock.

Insider Activity at Gartner

In related news, CFO Craig Safian sold 4,510 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $341.53, for a total transaction of $1,540,300.30. Following the transaction, the chief financial officer now owns 64,282 shares of the company’s stock, valued at $21,954,231.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Craig Safian sold 4,510 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $341.53, for a total transaction of $1,540,300.30. Following the completion of the transaction, the chief financial officer now owns 64,282 shares of the company’s stock, valued at $21,954,231.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alwyn Dawkins sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $316.71, for a total transaction of $316,710.00. Following the transaction, the executive vice president now directly owns 44,915 shares of the company’s stock, valued at approximately $14,225,029.65. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,593 shares of company stock valued at $4,130,981. Company insiders own 3.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on IT shares. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research report on Friday, May 26th. Morgan Stanley lifted their price objective on shares of Gartner from $358.00 to $366.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 8th. BMO Capital Markets decreased their price objective on shares of Gartner from $357.00 to $337.00 and set a “market perform” rating for the company in a research report on Friday, April 21st. Wells Fargo & Company decreased their price objective on shares of Gartner from $387.00 to $380.00 and set an “overweight” rating for the company in a research report on Wednesday, April 19th. Finally, UBS Group started coverage on shares of Gartner in a research report on Wednesday. They set a “neutral” rating for the company. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $357.86.

Gartner Stock Up 0.1 %

Shares of NYSE IT opened at $342.94 on Thursday. Gartner, Inc. has a 12-month low of $221.39 and a 12-month high of $358.25. The company has a market capitalization of $27.11 billion, a PE ratio of 29.59, a price-to-earnings-growth ratio of 4.53 and a beta of 1.28. The company has a debt-to-equity ratio of 5.19, a current ratio of 0.84 and a quick ratio of 0.84. The firm’s 50-day moving average is $315.88 and its two-hundred day moving average is $329.05.

Gartner (NYSE:IT – Get Rating) last announced its quarterly earnings results on Tuesday, May 2nd. The information technology services provider reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.84. Gartner had a net margin of 16.56% and a return on equity of 772.55%. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the prior year, the firm earned $2.33 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities analysts anticipate that Gartner, Inc. will post 10.05 EPS for the current fiscal year.

About Gartner

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Gartner, Inc is a research and advisory company, which equips business leaders with insights, advice, and tools that help build organizations. It operates through the following segments: Research, Consulting, and Conferences. The Research segment provides executives with objective insights and advice through reports, briefings, proprietary tools, access to the firm?s research experts, peer networking services, and membership programs.