Insider Selling: Gartner, Inc. (NYSE:IT) Director Sells $2,620,100.00 in Stock

Gartner, Inc. (NYSE:IT) Director James C. Smith sold 5,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $524.02, for a total value of $2,620,100.00. Following the completion of the sale, the director now owns 509,457 shares in the company, valued at $266,965,657.14. This represents a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Gartner Stock Performance

NYSE:IT opened at $517.78 on Friday. The stock has a market cap of $39.94 billion, a P/E ratio of 38.18, a PEG ratio of 3.24 and a beta of 1.32. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31. The business’s 50-day moving average price is $520.93 and its two-hundred day moving average price is $483.12. Gartner, Inc. has a twelve month low of $411.15 and a twelve month high of $559.00.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the firm posted $2.56 earnings per share. Gartner’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, equities analysts predict that Gartner, Inc. will post 11.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. boosted its stake in Gartner by 20.8% in the first quarter. B. Riley Wealth Advisors Inc. now owns 593 shares of the information technology services provider’s stock worth $283,000 after buying an additional 102 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of Gartner by 24.4% during the 1st quarter. Tidal Investments LLC now owns 9,890 shares of the information technology services provider’s stock valued at $4,717,000 after purchasing an additional 1,940 shares during the last quarter. Plato Investment Management Ltd raised its position in Gartner by 2,455.8% in the 1st quarter. Plato Investment Management Ltd now owns 2,198 shares of the information technology services provider’s stock worth $1,048,000 after purchasing an additional 2,112 shares during the period. Wahed Invest LLC lifted its stake in Gartner by 13.2% in the first quarter. Wahed Invest LLC now owns 1,481 shares of the information technology services provider’s stock worth $706,000 after purchasing an additional 173 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in Gartner during the first quarter valued at about $1,513,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Barclays lifted their target price on shares of Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. Morgan Stanley increased their target price on Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Wells Fargo & Company lifted their price target on Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Finally, Robert W. Baird raised their target price on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average 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.