Insider Selling: Gartner, Inc. (NYSE:IT) Director Sells 1,683 Shares of Stock

Gartner, Inc. (NYSE:IT) Director Karen E. Dykstra sold 1,683 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $465.55, for a total value of $783,520.65. Following the sale, the director now directly owns 19,825 shares in the company, valued at approximately $9,229,528.75. The sale was disclosed in a document filed with the SEC, which is available at this link.

Gartner Stock Performance

IT stock traded down $5.81 during midday trading on Wednesday, reaching $467.26. The stock had a trading volume of 260,298 shares, compared to its average volume of 408,348. The stock has a market cap of $36.27 billion, a PE ratio of 47.07, a P/E/G ratio of 3.80 and a beta of 1.33. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.91 and a current ratio of 0.90. The firm has a fifty day simple moving average of $451.05 and a two-hundred day simple moving average of $455.19. Gartner, Inc. has a 52-week low of $323.61 and a 52-week high of $509.15.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.20. The company 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 firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $2.85 EPS. As a group, equities research analysts anticipate that Gartner, Inc. will post 11.58 EPS for the current year.

Hedge Funds Weigh In On Gartner

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IT. MCF Advisors LLC purchased a new position in shares of Gartner during the 4th quarter valued at about $27,000. Frazier Financial Advisors LLC purchased a new position in shares of Gartner during the 4th quarter valued at about $27,000. DSM Capital Partners LLC purchased a new position in shares of Gartner during the 4th quarter valued at about $32,000. Harbor Investment Advisory LLC raised its stake in shares of Gartner by 7,500.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 76 shares of the information technology services provider’s stock valued at $34,000 after buying an additional 75 shares during the last quarter. Finally, Central Pacific Bank Trust Division purchased a new position in shares of Gartner during the 1st quarter valued at about $36,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on IT shares. Bank of America increased their target price on Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Robert W. Baird increased their target price on Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. UBS Group increased their target price on Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets raised their price objective on Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley raised their price objective on Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Gartner has a consensus rating of “Moderate Buy” and an average target price of $521.00.

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.