Short Interest in Gartner, Inc. (NYSE:IT) Expands By 9.3%

Gartner, Inc. (NYSE:IT) was the recipient of a significant increase in short interest during 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 short sold. Based on an average daily volume of 316,200 shares, the short-interest ratio is presently 3.7 days.

Gartner Stock Down 0.3 %

Shares of IT traded down $1.44 during mid-day trading on Tuesday, reaching $515.56. The company had a trading volume of 510,017 shares, compared to its average volume of 373,848. 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 50-day moving average price of $521.12 and a 200 day moving average price of $485.23. Gartner has a 52 week low of $411.15 and a 52 week high of $559.00. The company has a market capitalization of $39.77 billion, a price-to-earnings ratio of 38.02, a price-to-earnings-growth ratio of 3.23 and a beta of 1.31.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.05. The firm had revenue of $1.48 billion for 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.56 EPS. On average, sell-side analysts forecast that Gartner will post 11.89 EPS for the current year.

Insiders Place Their Bets

In related news, Director James C. Smith sold 2,128 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $500.15, for a total transaction of $1,064,319.20. Following the transaction, the director now owns 572,090 shares in the company, valued at $286,130,813.50. The trade was a 0.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Akhil Jain sold 500 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $492.00, for a total value of $246,000.00. Following the transaction, the executive vice president now owns 4,339 shares in the company, valued at approximately $2,134,788. This represents a 10.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,560 shares of company stock valued at $37,909,141 over the last 90 days. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Gartner

Hedge funds and other institutional investors have recently modified their holdings of the company. Eastern Bank bought a new position in Gartner in the 3rd quarter worth $26,000. Crewe Advisors LLC raised its holdings in Gartner by 223.3% in 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 period. Ashton Thomas Securities LLC bought a new position in Gartner in the 3rd quarter worth $44,000. True Wealth Design LLC raised its holdings in Gartner by 2,350.0% during the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock valued at $50,000 after acquiring an additional 94 shares during the period. Finally, Fortitude Family Office LLC raised its holdings in Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after acquiring an additional 20 shares during the period. 91.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IT. Morgan Stanley boosted their price target on Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Robert W. Baird upped their target price on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Barclays upped their target price on 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 upped their target price on Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. Finally, StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Gartner has a consensus rating of “Hold” and an average target price of $539.25.

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.