Abacus FCF Advisors LLC Raises Position in Gartner, Inc. (NYSE:IT)

Abacus FCF Advisors LLC boosted its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 46.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 8,193 shares of the information technology services provider's stock after acquiring an additional 2,604 shares during the period. Abacus FCF Advisors LLC's holdings in Gartner were worth $3,969,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kestra Investment Management LLC purchased a new position in shares of Gartner in the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. acquired a new position in Gartner in the 4th quarter valued at $49,000. Promus Capital LLC purchased a new position in Gartner in the 4th quarter valued at $57,000. Hurley Capital LLC acquired a new stake in Gartner during the 4th quarter worth $73,000. Finally, Global Retirement Partners LLC boosted its stake in Gartner by 14.0% during the 4th quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider's stock worth $134,000 after purchasing an additional 34 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. UBS Group decreased their price target on shares of Gartner from $565.00 to $500.00 and set a "buy" rating on the stock in a research note on Tuesday, March 25th. Morgan Stanley cut their price objective on shares of Gartner from $564.00 to $555.00 and set an "equal weight" rating for the company in a report on Thursday, January 16th. Robert W. Baird lowered their target price on Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Wells Fargo & Company cut their price target on Gartner from $488.00 to $401.00 and set an "underweight" rating for the company in a report on Wednesday. Finally, Barclays reduced their price objective on Gartner from $600.00 to $510.00 and set an "overweight" rating on the stock in a research report on Friday, April 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $518.00.

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Insider Buying and Selling at Gartner

In other Gartner news, Director Eileen Serra sold 1,200 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the transaction, the director now directly owns 1,627 shares in the company, valued at $796,855.79. This represents a 42.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John J. Rinello sold 90 shares of Gartner stock in a transaction on Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the completion of the sale, the senior vice president now directly owns 3,259 shares of the company's stock, valued at $1,728,932.09. The trade was a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.60% of the company's stock.

Gartner Trading Up 2.0 %

Gartner stock traded up $7.81 during mid-day trading on Friday, hitting $399.84. The company's stock had a trading volume of 574,913 shares, compared to its average volume of 449,990. Gartner, Inc. has a 1 year low of $366.05 and a 1 year high of $584.01. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $30.71 billion, a PE ratio of 24.94, a price-to-earnings-growth ratio of 3.30 and a beta of 1.26. The stock's fifty day moving average is $461.38 and its two-hundred day moving average is $496.20.

Gartner (NYSE:IT - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, topping analysts' consensus estimates of $3.22 by $2.23. The business had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.69 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The company's revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.04 EPS. On average, analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current year.

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.