Avantax Advisory Services Inc. Has $417,000 Holdings in Gartner, Inc. (NYSE:IT)

Avantax Advisory Services Inc. grew its stake in shares of Gartner, Inc. (NYSE:IT) by 14.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 994 shares of the information technology services provider’s stock after acquiring an additional 129 shares during the period. Avantax Advisory Services Inc.’s holdings in Gartner were worth $417,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. DAVENPORT & Co LLC raised its position in shares of Gartner by 11.5% in the first quarter. DAVENPORT & Co LLC now owns 921 shares of the information technology services provider’s stock valued at $387,000 after buying an additional 95 shares in the last quarter. Three Seasons Wealth LLC acquired a new stake in shares of Gartner in the fourth quarter valued at approximately $731,000. SG Americas Securities LLC raised its position in shares of Gartner by 3.6% in the first quarter. SG Americas Securities LLC now owns 42,389 shares of the information technology services provider’s stock valued at $17,792,000 after buying an additional 1,484 shares in the last quarter. Brighton Jones LLC acquired a new stake in shares of Gartner in the fourth quarter valued at approximately $309,000. Finally, HighPoint Advisor Group LLC raised its position in shares of Gartner by 3.6% in the first quarter. HighPoint Advisor Group LLC now owns 1,145 shares of the information technology services provider’s stock valued at $482,000 after buying an additional 40 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on IT shares. The Goldman Sachs Group decreased their target price on shares of Gartner from $535.00 to $457.00 and set a “buy” rating on the stock in a research note on Wednesday. UBS Group reaffirmed a “neutral” rating and set a $270.00 target price (down previously from $480.00) on shares of Gartner in a research note on Wednesday. BMO Capital Markets decreased their target price on shares of Gartner from $409.00 to $272.00 and set a “market perform” rating on the stock in a research note on Wednesday. Barclays decreased their target price on shares of Gartner from $475.00 to $320.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Morgan Stanley decreased their target price on shares of Gartner from $455.00 to $322.00 and set an “equal weight” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $369.25.

Gartner Stock Down 0.0%

IT opened at $243.91 on Thursday. The company has a 50 day moving average of $383.65 and a 200 day moving average of $432.96. The company has a market cap of $18.77 billion, a PE ratio of 15.01 and a beta of 1.19. Gartner, Inc. has a 12 month low of $231.00 and a 12 month high of $584.01. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.64.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.38 by $0.15. Gartner had a net margin of 19.71% and a return on equity of 86.19%. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the prior year, the company posted $3.22 EPS. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, sell-side analysts expect that Gartner, Inc. will post 12.5 EPS for the current year.

Insider Activity

In related news, EVP William James Wartinbee III sold 538 shares of Gartner stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $449.09, for a total value of $241,610.42. Following the transaction, the executive vice president owned 7,965 shares in the company, valued at $3,577,001.85. This trade represents a 6.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Craig Safian sold 3,415 shares of Gartner stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $450.17, for a total transaction of $1,537,330.55. Following the completion of the transaction, the chief financial officer owned 77,890 shares in the company, valued at approximately $35,063,741.30. The trade was a 4.20% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,578 shares of company stock worth $2,060,191. 2.30% of the stock is currently owned by corporate insiders.

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.