Insider Selling: Gartner, Inc. (NYSE:IT) CEO Sells $17,213,924.00 in Stock

Gartner, Inc. (NYSE:IT) CEO Eugene A. Hall sold 34,060 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the sale, the chief executive officer now directly owns 1,143,401 shares in the company, valued at $577,874,865.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Gartner Trading Down 0.2 %

NYSE IT opened at $506.49 on Thursday. The stock has a market capitalization of $39.32 billion, a P/E ratio of 50.40, a P/E/G ratio of 3.89 and a beta of 1.32. The business has a 50 day simple moving average of $480.57 and a 200 day simple moving average of $461.49. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.90. Gartner, Inc. has a one year low of $323.61 and a one year high of $515.09.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, topping the consensus estimate of $3.02 by $0.20. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the firm posted $2.85 EPS. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Research analysts expect that Gartner, Inc. will post 11.59 earnings per share for the current year.

Institutional Investors Weigh In On Gartner

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. TCW Group Inc. increased its holdings in shares of Gartner by 4.0% during the fourth quarter. TCW Group Inc. now owns 199,062 shares of the information technology services provider’s stock valued at $89,800,000 after acquiring an additional 7,639 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Gartner by 11.4% in the first quarter. Russell Investments Group Ltd. now owns 25,063 shares of the information technology services provider’s stock valued at $11,987,000 after buying an additional 2,560 shares in the last quarter. Icon Wealth Advisors LLC bought a new position in shares of Gartner in the fourth quarter valued at $2,093,000. Madison Asset Management LLC grew its holdings in shares of Gartner by 2.8% during the fourth quarter. Madison Asset Management LLC now owns 344,657 shares of the information technology services provider’s stock valued at $155,478,000 after buying an additional 9,538 shares during the last quarter. Finally, TFO Wealth Partners LLC increased its position in shares of Gartner by 3,456.6% during the fourth quarter. TFO Wealth Partners LLC now owns 2,703 shares of the information technology services provider’s stock worth $1,219,000 after acquiring an additional 2,627 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on IT. Robert W. Baird boosted their price objective on shares of Gartner from $517.00 to $565.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Morgan Stanley upped their price target on Gartner from $440.00 to $470.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. Bank of America lifted their price objective on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company upgraded Gartner to a “strong sell” rating in a report on Tuesday, August 13th. Finally, BMO Capital Markets raised their price target on shares of Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $521.00.

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.