Insider Selling: Gartner, Inc. (NYSE:IT) Director Sells 5,000 Shares of Stock

Gartner, Inc. (NYSE:IT) Director James C. Smith sold 5,000 shares of Gartner stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $524.02, for a total transaction of $2,620,100.00. Following the sale, the director now directly owns 509,457 shares in the company, valued at $266,965,657.14. This trade represents a 0.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Gartner Stock Down 0.7 %

Shares of IT traded down $3.77 during mid-day trading on Wednesday, hitting $519.23. 326,906 shares of the company’s stock were exchanged, compared to its average volume of 373,617. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31. The stock has a market cap of $40.05 billion, a price-to-earnings ratio of 38.58, a P/E/G ratio of 3.24 and a beta of 1.32. The firm has a fifty day moving average of $520.55 and a two-hundred day moving average of $482.61. Gartner, Inc. has a twelve month low of $411.15 and a twelve month high of $559.00.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, beating 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 firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the company earned $2.56 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, sell-side analysts forecast that Gartner, Inc. will post 11.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on IT shares. BMO Capital Markets upped their price target on Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. UBS Group raised their target price on shares of Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Wells Fargo & Company raised their price target on Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. Finally, Bank of America upped 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. One research 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $539.25.

Hedge Funds Weigh In On Gartner

Several large investors have recently added to or reduced their stakes in IT. Baron Wealth Management LLC raised its stake in shares of Gartner by 4.1% in the third quarter. Baron Wealth Management LLC now owns 481 shares of the information technology services provider’s stock valued at $244,000 after acquiring an additional 19 shares during the last quarter. Fortitude Family Office LLC boosted its position in Gartner by 23.8% in the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after buying an additional 20 shares during the last quarter. Moors & Cabot Inc. raised its position in shares of Gartner by 3.0% during the second quarter. Moors & Cabot Inc. now owns 763 shares of the information technology services provider’s stock worth $343,000 after acquiring an additional 22 shares during the last quarter. Mather Group LLC. boosted its holdings in Gartner by 2.2% in the second quarter. Mather Group LLC. now owns 1,079 shares of the information technology services provider’s stock valued at $514,000 after acquiring an additional 23 shares during the last quarter. Finally, Wallace Advisory Group LLC raised its stake in shares of Gartner by 2.4% during the second quarter. Wallace Advisory Group LLC now owns 980 shares of the information technology services provider’s stock worth $440,000 after buying an additional 23 shares during the last quarter. Institutional investors and hedge funds 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.