Insider Selling: Gartner, Inc. (NYSE:IT) Director Sells 10,000 Shares of Stock

Gartner, Inc. (NYSE:IT) Director James C. Smith sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $535.76, for a total transaction of $5,357,600.00. Following the completion of the transaction, the director now directly owns 554,274 shares of the company’s stock, valued at approximately $296,957,838.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Gartner Stock Up 1.3 %

Shares of NYSE IT traded up $7.00 during trading hours on Friday, hitting $547.75. The company had a trading volume of 519,560 shares, compared to its average volume of 369,009. Gartner, Inc. has a 1-year low of $397.43 and a 1-year high of $552.33. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 3.80. The firm’s 50 day moving average is $511.54 and its 200-day moving average is $473.53. The stock has a market capitalization of $42.21 billion, a P/E ratio of 40.33, a price-to-earnings-growth ratio of 3.14 and a beta of 1.32.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the firm posted $2.56 EPS. The company’s quarterly revenue was up 5.4% on a year-over-year basis. On average, analysts expect that Gartner, Inc. will post 11.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gartner

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sustainable Growth Advisers LP acquired a new stake in Gartner during the 2nd quarter worth approximately $266,541,000. Principal Financial Group Inc. boosted its position in shares of Gartner by 22.0% in the second quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock valued at $852,014,000 after acquiring an additional 341,911 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Gartner by 38.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 414,559 shares of the information technology services provider’s stock valued at $197,608,000 after acquiring an additional 114,610 shares in the last quarter. Natixis Advisors LLC raised its stake in Gartner by 117.4% in the 2nd quarter. Natixis Advisors LLC now owns 200,097 shares of the information technology services provider’s stock worth $89,856,000 after purchasing an additional 108,061 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Gartner in the 3rd quarter valued at about $36,789,000. 91.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Bank of America boosted their price objective on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Robert W. Baird increased their price target on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research note on Wednesday. UBS Group increased their target price on shares of Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Morgan Stanley raised their price objective on Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Finally, BMO Capital Markets boosted their price objective on Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $539.25.

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.