First Trust Direct Indexing L.P. reduced its position in Gartner, Inc. (NYSE:IT – Free Report) by 19.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,506 shares of the information technology services provider’s stock after selling 363 shares during the period. First Trust Direct Indexing L.P.’s holdings in Gartner were worth $528,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in IT. Perpetual Ltd grew its stake in shares of Gartner by 46.0% during the second quarter. Perpetual Ltd now owns 4,178 shares of the information technology services provider’s stock worth $1,464,000 after purchasing an additional 1,316 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in Gartner by 2.8% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 2,599 shares of the information technology services provider’s stock valued at $910,000 after purchasing an additional 71 shares during the period. Atlantic Union Bankshares Corp grew its holdings in Gartner by 247.6% during the second quarter. Atlantic Union Bankshares Corp now owns 2,350 shares of the information technology services provider’s stock valued at $823,000 after purchasing an additional 1,674 shares during the period. Czech National Bank grew its holdings in Gartner by 0.5% during the second quarter. Czech National Bank now owns 9,356 shares of the information technology services provider’s stock valued at $3,278,000 after purchasing an additional 46 shares during the period. Finally, AE Wealth Management LLC acquired a new position in Gartner during the second quarter valued at approximately $205,000. 90.28% of the stock is owned by institutional investors and hedge funds.
Gartner Stock Performance
Shares of IT opened at $356.26 on Monday. Gartner, Inc. has a 12 month low of $272.58 and a 12 month high of $377.88. The firm has a fifty day simple moving average of $348.00 and a 200 day simple moving average of $334.33. The stock has a market capitalization of $28.08 billion, a price-to-earnings ratio of 30.87, a PEG ratio of 4.90 and a beta of 1.24. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 4.18.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the company. UBS Group assumed coverage on Gartner in a research note on Wednesday, May 31st. They issued a “neutral” rating and a $368.00 target price for the company. Morgan Stanley boosted their target price on Gartner from $366.00 to $372.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 2nd. BMO Capital Markets reduced their price target on shares of Gartner from $352.00 to $346.00 in a report on Thursday, August 3rd. Finally, StockNews.com started coverage on shares of Gartner in a report on Saturday, August 19th. They issued a “hold” rating for the company. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Gartner has an average rating of “Hold” and a consensus price target of $361.00.
Get Our Latest Analysis on Gartner
Insider Activity at Gartner
In other news, EVP Michael Patrick Diliberto sold 7,938 shares of Gartner stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $335.09, for a total value of $2,659,944.42. Following the completion of the transaction, the executive vice president now owns 18,501 shares of the company’s stock, valued at approximately $6,199,500.09. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Michael Patrick Diliberto sold 7,938 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $335.09, for a total value of $2,659,944.42. Following the completion of the sale, the executive vice president now directly owns 18,501 shares of the company’s stock, valued at $6,199,500.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Robin B. Kranich sold 716 shares of Gartner stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $349.78, for a total value of $250,442.48. Following the transaction, the executive vice president now owns 13,230 shares of the company’s stock, valued at $4,627,589.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,654 shares of company stock valued at $6,431,987. Insiders own 3.90% of the company’s stock.
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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