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

Gartner, Inc. (NYSE:IT) was the recipient of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 1,170,000 shares, an increase of 9.3% from the October 31st total of 1,070,000 shares. Approximately 1.6% of the shares of the stock are sold short. Based on an average trading volume of 316,200 shares, the short-interest ratio is currently 3.7 days.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on IT shares. Morgan Stanley lifted their target price on Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Barclays lifted their price objective on shares of Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Wells Fargo & Company increased their target price on shares of Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a report on Wednesday, November 6th. Robert W. Baird boosted their price target on shares of Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $539.25.

Insiders Place Their Bets

In related news, EVP Akhil Jain sold 500 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $492.00, for a total transaction of $246,000.00. Following the sale, the executive vice president now owns 4,339 shares in the company, valued at $2,134,788. The trade was a 10.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James C. Smith sold 2,450 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $554.68, for a total transaction of $1,358,966.00. Following the sale, the director now directly owns 529,844 shares in the company, valued at $293,893,869.92. The trade was a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,560 shares of company stock worth $37,909,141 in the last 90 days. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Sustainable Growth Advisers LP bought a new stake in shares of Gartner in the 2nd quarter worth approximately $266,541,000. Principal Financial Group Inc. raised its holdings in Gartner by 22.0% in the 2nd quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock worth $852,014,000 after purchasing an additional 341,911 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Gartner in the 3rd quarter worth about $70,955,000. Natixis Advisors LLC boosted its stake in shares of Gartner by 117.4% during the 2nd quarter. Natixis Advisors LLC now owns 200,097 shares of the information technology services provider’s stock valued at $89,856,000 after purchasing an additional 108,061 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Gartner during the third quarter valued at about $36,789,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Price Performance

Gartner stock traded down $1.44 during midday trading on Tuesday, hitting $515.56. 510,017 shares of the company’s stock were exchanged, compared to its average volume of 373,848. The stock has a 50-day moving average price of $521.03 and a two-hundred day moving average price of $484.77. Gartner has a 52-week low of $411.15 and a 52-week high of $559.00. The company has a market cap of $39.77 billion, a P/E ratio of 38.03, a PEG ratio of 3.23 and a beta of 1.31. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02.

Gartner (NYSE:IT) last released its quarterly 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. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $2.56 earnings per share. On average, equities research analysts forecast that Gartner will post 11.89 earnings per share for the current year.

Gartner Company Profile

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.