Avantax Advisory Services Inc. Decreases Stake in Gartner, Inc. (NYSE:IT)

Avantax Advisory Services Inc. trimmed its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 48.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 865 shares of the information technology services provider's stock after selling 800 shares during the period. Avantax Advisory Services Inc.'s holdings in Gartner were worth $419,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of IT. Kestra Investment Management LLC purchased a new position in shares of Gartner in the fourth quarter valued at $29,000. SBI Securities Co. Ltd. bought a new position in Gartner during the fourth quarter valued at $49,000. True Wealth Design LLC grew its stake in shares of Gartner by 2,350.0% in the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider's stock worth $50,000 after buying an additional 94 shares in the last quarter. Promus Capital LLC bought a new stake in shares of Gartner in the 4th quarter worth about $57,000. Finally, Global Retirement Partners LLC raised its position in shares of Gartner by 14.0% during the 4th quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider's stock valued at $134,000 after buying an additional 34 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wells Fargo & Company reduced their price objective on Gartner from $470.00 to $460.00 and set an "underweight" rating on the stock in a research note on Friday, January 10th. UBS Group lowered their price target on Gartner from $565.00 to $500.00 and set a "buy" rating for the company in a research report on Tuesday. Robert W. Baird cut their price objective on shares of Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a research report on Friday. Morgan Stanley dropped their price target on shares of Gartner from $564.00 to $555.00 and set an "equal weight" rating for the company in a research note on Thursday, January 16th. Finally, StockNews.com cut Gartner from a "buy" rating to a "hold" rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Gartner currently has a consensus rating of "Hold" and a consensus target price of $536.63.

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Insiders Place Their Bets

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

Gartner Stock Performance

Shares of Gartner stock traded down $12.14 during midday trading on Tuesday, hitting $417.66. The company had a trading volume of 727,561 shares, compared to its average volume of 394,512. Gartner, Inc. has a 12-month low of $409.50 and a 12-month high of $584.01. The company has a fifty day simple moving average of $501.11 and a 200 day simple moving average of $507.61. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The stock has a market cap of $32.08 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 3.30 and a beta of 1.29.

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