Insider Selling: Gartner, Inc. (NYSE:IT) SVP Sells 90 Shares of Stock

Gartner, Inc. (NYSE:IT) SVP John J. Rinello sold 90 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the sale, the senior vice president now owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. This represents a 2.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Gartner Price Performance

Shares of IT traded down $8.10 during trading hours on Wednesday, reaching $514.02. The company had a trading volume of 503,614 shares, compared to its average volume of 486,750. The firm has a 50 day simple moving average of $510.29 and a 200-day simple moving average of $507.91. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. The company has a market capitalization of $39.65 billion, a price-to-earnings ratio of 32.07, a PEG ratio of 3.50 and a beta of 1.34. Gartner, Inc. has a 12-month low of $411.15 and a 12-month high of $584.01.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $2.23. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 136.32%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.04 EPS. Research analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current year.

Hedge Funds Weigh In On Gartner

Hedge funds have recently added to or reduced their stakes in the business. Czech National Bank increased its holdings in Gartner by 6.5% during the 4th quarter. Czech National Bank now owns 16,725 shares of the information technology services provider’s stock valued at $8,103,000 after acquiring an additional 1,028 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Gartner by 70.0% during the 3rd quarter. Assetmark Inc. now owns 5,144 shares of the information technology services provider’s stock worth $2,607,000 after purchasing an additional 2,118 shares during the last quarter. ING Groep NV boosted its stake in shares of Gartner by 38.4% during the 3rd quarter. ING Groep NV now owns 10,306 shares of the information technology services provider’s stock worth $5,223,000 after purchasing an additional 2,860 shares during the last quarter. Conestoga Capital Advisors LLC boosted its stake in shares of Gartner by 1.5% during the 4th quarter. Conestoga Capital Advisors LLC now owns 31,626 shares of the information technology services provider’s stock worth $15,322,000 after purchasing an additional 480 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of Gartner by 8.6% during the 3rd quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock worth $84,520,000 after purchasing an additional 13,205 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on IT shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday. Robert W. Baird increased their price target on shares of Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 5th. Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $525.00 to $600.00 in a research report on Friday, January 10th. Finally, Wells Fargo & Company cut their price objective on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $552.63.

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.