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 stock in a transaction dated Tuesday, November 26th. The stock was 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 of the company’s stock, valued at $266,965,657.14. This trade represents a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Gartner Price Performance

Gartner stock traded down $3.77 during midday trading on Wednesday, reaching $519.23. 326,906 shares of the stock were exchanged, compared to its average volume of 373,617. Gartner, Inc. has a 52 week low of $411.15 and a 52 week high of $559.00. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $40.05 billion, a PE ratio of 38.58, a PEG ratio of 3.24 and a beta of 1.32. The company’s fifty day moving average is $520.55 and its 200-day moving average is $482.61.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, topping the consensus estimate of $2.45 by $0.05. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the firm earned $2.56 earnings per share. Gartner’s revenue was up 5.4% on a year-over-year basis. On average, sell-side analysts forecast that Gartner, Inc. will post 11.89 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on IT. UBS Group lifted their target price on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets raised their price objective on shares of Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Morgan Stanley boosted their price target on shares of Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Finally, Barclays upped their price target on Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $539.25.

Hedge Funds Weigh In On Gartner

A number of hedge funds and other institutional investors have recently modified their holdings of IT. B. Riley Wealth Advisors Inc. grew its position in Gartner by 20.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 593 shares of the information technology services provider’s stock worth $283,000 after acquiring an additional 102 shares during the last quarter. Tidal Investments LLC increased its position in shares of Gartner by 24.4% in the first quarter. Tidal Investments LLC now owns 9,890 shares of the information technology services provider’s stock valued at $4,717,000 after acquiring an additional 1,940 shares during the period. Plato Investment Management Ltd raised its stake in shares of Gartner by 2,455.8% during the first quarter. Plato Investment Management Ltd now owns 2,198 shares of the information technology services provider’s stock valued at $1,048,000 after acquiring an additional 2,112 shares during the last quarter. Wahed Invest LLC grew its stake in shares of 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 position in Gartner during the 1st quarter valued at about $1,513,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

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.