Insider Selling: Gartner, Inc. (NYSE:IT) Director Sells 2,128 Shares of Stock

Gartner, Inc. (NYSE:IT) Director James C. Smith sold 2,128 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $500.15, for a total transaction of $1,064,319.20. Following the sale, the director now directly owns 572,090 shares of the company’s stock, valued at approximately $286,130,813.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Gartner Stock Performance

IT opened at $505.67 on Friday. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $38.97 billion, a price-to-earnings ratio of 50.32, a PEG ratio of 3.89 and a beta of 1.32. The company has a fifty day moving average of $474.68 and a 200 day moving average of $459.99. Gartner, Inc. has a fifty-two week low of $323.61 and a fifty-two week high of $509.15.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.02 by $0.20. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.58 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.85 earnings per share. As a group, sell-side analysts forecast that Gartner, Inc. will post 11.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IT has been the subject of several recent research reports. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. BMO Capital Markets raised their target price on shares of Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Morgan Stanley raised their price objective on shares of Gartner from $440.00 to $470.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. Robert W. Baird lifted their target price on shares of Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, UBS Group raised their price target on Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $521.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. TCW Group Inc. raised its position in 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 purchasing an additional 7,639 shares during the period. Russell Investments Group Ltd. raised 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 acquiring an additional 2,560 shares during the period. Icon Wealth Advisors LLC bought a new stake in shares of Gartner in the 4th quarter worth about $2,093,000. Madison Asset Management LLC boosted its stake in shares of Gartner by 2.8% during the 4th quarter. Madison Asset Management LLC now owns 344,657 shares of the information technology services provider’s stock worth $155,478,000 after purchasing an additional 9,538 shares during the period. Finally, TFO Wealth Partners LLC raised its position in Gartner by 3,456.6% in the 4th quarter. TFO Wealth Partners LLC now owns 2,703 shares of the information technology services provider’s stock worth $1,219,000 after purchasing an additional 2,627 shares during the period. 91.51% of the stock is currently owned by institutional investors.

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.