Insider Selling: Gartner, Inc. (NYSE:IT) Director Sells $5,357,600.00 in Stock

Gartner, Inc. (NYSE:IT) Director James C. Smith sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $535.76, for a total transaction of $5,357,600.00. Following the transaction, the director now owns 554,274 shares of the company’s stock, valued at $296,957,838.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Gartner Trading Up 1.2 %

Shares of IT opened at $547.40 on Monday. The company has a current ratio of 1.02, a quick ratio of 0.90 and a debt-to-equity ratio of 2.31. Gartner, Inc. has a 12-month low of $397.43 and a 12-month high of $552.33. The firm has a 50-day moving average price of $512.66 and a 200 day moving average price of $474.59. The firm has a market capitalization of $42.18 billion, a P/E ratio of 40.37, a P/E/G ratio of 3.27 and a beta of 1.32.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. Gartner’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.56 earnings per share. Sell-side analysts forecast that Gartner, Inc. will post 11.88 EPS for the current year.

Wall Street Analyst Weigh In

IT has been the subject of a number of research analyst reports. Bank of America upped their price objective on shares of Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Barclays increased their target price on shares of Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. Robert W. Baird increased their target price on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Morgan Stanley increased their target price 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. Finally, Wells Fargo & Company increased their target price on shares of Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a research 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $539.25.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of IT. Sustainable Growth Advisers LP purchased a new position in Gartner during the second quarter worth about $266,541,000. Principal Financial Group Inc. boosted its stake in Gartner by 22.0% during the second quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock worth $852,014,000 after buying an additional 341,911 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Gartner by 38.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 414,559 shares of the information technology services provider’s stock worth $197,608,000 after buying an additional 114,610 shares during the period. Natixis Advisors LLC boosted its stake in Gartner by 117.4% during the second quarter. Natixis Advisors LLC now owns 200,097 shares of the information technology services provider’s stock worth $89,856,000 after buying an additional 108,061 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Gartner during the third quarter worth about $36,789,000. Hedge funds and other institutional investors 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.