Insider Selling: Gartner, Inc. (NYSE:IT) Director Sells 2,450 Shares of Stock

Gartner, Inc. (NYSE:IT) Director James C. Smith sold 2,450 shares of Gartner stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $554.68, for a total value of $1,358,966.00. Following the completion of the transaction, the director now owns 529,844 shares of the company’s stock, valued at approximately $293,893,869.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Gartner Price Performance

IT stock traded up $1.14 during mid-day trading on Wednesday, reaching $551.80. The company’s stock had a trading volume of 420,145 shares, compared to its average volume of 369,079. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. The company’s 50 day moving average is $515.17 and its two-hundred day moving average is $476.03. Gartner, Inc. has a fifty-two week low of $411.15 and a fifty-two week high of $559.00. The stock has a market cap of $42.52 billion, a PE ratio of 40.93, a P/E/G ratio of 3.44 and a beta of 1.32.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on IT. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Bank of America lifted their price target on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Barclays lifted their target price on shares of Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company upped their price target on shares of Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 6th. One 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 stock currently has an average rating of “Hold” and a consensus target price of $539.25.

Institutional Investors Weigh In On Gartner

A number of hedge funds have recently modified their holdings of IT. BNP Paribas Financial Markets raised its stake in Gartner by 43.1% during the third quarter. BNP Paribas Financial Markets now owns 137,184 shares of the information technology services provider’s stock worth $69,519,000 after purchasing an additional 41,323 shares during the period. Avestar Capital LLC increased its holdings in shares of Gartner by 12.3% during the 3rd quarter. Avestar Capital LLC now owns 811 shares of the information technology services provider’s stock worth $411,000 after buying an additional 89 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Gartner during the 3rd quarter valued at approximately $186,000. D.A. Davidson & CO. lifted its holdings in Gartner by 4.2% in the third quarter. D.A. Davidson & CO. now owns 1,108 shares of the information technology services provider’s stock valued at $561,000 after acquiring an additional 45 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its position in Gartner by 43.0% in the third quarter. Brown Brothers Harriman & Co. now owns 722 shares of the information technology services provider’s stock worth $366,000 after acquiring an additional 217 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

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.