Gartner, Inc. (NYSE:IT) Short Interest Update

Gartner, Inc. (NYSE:IT) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 1,200,000 shares, a growth of 5.3% from the August 15th total of 1,140,000 shares. Based on an average daily volume of 366,500 shares, the short-interest ratio is currently 3.3 days. Approximately 1.6% of the company’s stock are sold short.

Gartner Stock Down 0.1 %

Shares of NYSE:IT opened at $510.08 on Tuesday. The firm has a market cap of $39.60 billion, a price-to-earnings ratio of 50.75, a PEG ratio of 3.89 and a beta of 1.32. Gartner has a 12-month low of $323.61 and a 12-month high of $515.09. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 3.80. The stock’s 50-day moving average price is $478.23 and its two-hundred day moving average price is $460.93.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share for the quarter, beating the consensus estimate of $3.02 by $0.20. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.85 EPS. On average, research analysts forecast that Gartner will post 11.59 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on IT shares. Robert W. Baird raised their target price on Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. UBS Group lifted their price objective on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company upgraded Gartner to a “strong sell” rating in a research report on Tuesday, August 13th. BMO Capital Markets lifted their price objective on Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Finally, StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Gartner currently has an average rating of “Hold” and a consensus target price of $521.00.

Insider Buying and Selling at Gartner

In other news, EVP Alwyn Dawkins sold 1,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $505.49, for a total value of $505,490.00. Following the completion of the sale, the executive vice president now directly owns 56,650 shares of the company’s stock, valued at $28,636,008.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Alwyn Dawkins sold 1,000 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $505.49, for a total transaction of $505,490.00. Following the completion of the sale, the executive vice president now directly owns 56,650 shares of the company’s stock, valued at $28,636,008.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Karen E. Dykstra sold 1,683 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $465.55, for a total value of $783,520.65. Following the sale, the director now directly owns 19,825 shares of the company’s stock, valued at $9,229,528.75. The disclosure for this sale can be found here. Insiders have sold 65,164 shares of company stock worth $32,601,014 over the last three months. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Gartner

Several hedge funds and other institutional investors have recently bought and sold shares of IT. Frazier Financial Advisors LLC purchased a new stake in Gartner during the 4th quarter worth approximately $27,000. DSM Capital Partners LLC purchased a new stake in Gartner during the 4th quarter worth approximately $32,000. Central Pacific Bank Trust Division purchased a new stake in Gartner during the 1st quarter worth approximately $36,000. Crewe Advisors LLC increased its holdings in Gartner by 223.3% during the 2nd quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock worth $44,000 after purchasing an additional 67 shares during the last quarter. Finally, J.Safra Asset Management Corp increased its holdings in Gartner by 58.7% during the 1st quarter. J.Safra Asset Management Corp now owns 146 shares of the information technology services provider’s stock worth $70,000 after purchasing an additional 54 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

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.