Insider Selling: Gartner, Inc. (NYSE:IT) Director Sells $1,358,966.00 in Stock

Gartner, Inc. (NYSE:IT) Director James C. Smith sold 2,450 shares of the 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 sale, the director now owns 529,844 shares of the company’s stock, valued at $293,893,869.92. This represents a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Gartner Stock Down 2.7 %

NYSE IT opened at $522.77 on Friday. Gartner, Inc. has a 52 week low of $411.15 and a 52 week high of $559.00. The firm has a market capitalization of $40.28 billion, a price-to-earnings ratio of 38.55, a PEG ratio of 3.45 and a beta of 1.32. 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 company has a fifty day moving average of $518.32 and a two-hundred day moving average of $477.49.

Gartner (NYSE:IT) last issued its 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. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the company posted $2.56 EPS. Gartner’s revenue was up 5.4% on a year-over-year basis. On average, analysts predict that Gartner, Inc. will post 11.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on IT shares. Deutsche Bank Aktiengesellschaft upped their target price on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Morgan Stanley lifted their price target on shares of Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Robert W. Baird raised their target price on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Barclays boosted 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. Finally, StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $539.25.

Institutional Investors Weigh In On Gartner

Large investors have recently made changes to their positions in the stock. Empowered Funds LLC boosted its holdings in Gartner by 12.1% in the 1st quarter. Empowered Funds LLC now owns 3,549 shares of the information technology services provider’s stock worth $1,692,000 after buying an additional 382 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of Gartner in the 1st quarter valued at approximately $715,000. Headlands Technologies LLC purchased a new stake in Gartner during the first quarter worth approximately $147,000. QRG Capital Management Inc. grew its holdings in shares of Gartner by 8.0% during the first quarter. QRG Capital Management Inc. now owns 2,361 shares of the information technology services provider’s stock worth $1,125,000 after purchasing an additional 175 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Gartner by 11.4% during the first quarter. Russell Investments Group Ltd. now owns 25,063 shares of the information technology services provider’s stock worth $11,987,000 after purchasing an additional 2,560 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other 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.