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 completion of the transaction, the director now directly owns 554,274 shares in the company, valued at $296,957,838.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Gartner Stock Performance

Shares of Gartner stock traded up $7.00 during midday trading on Friday, hitting $547.75. The company had a trading volume of 519,560 shares, compared to its average volume of 369,009. The stock has a market cap of $42.21 billion, a PE ratio of 40.33, a P/E/G ratio of 3.14 and a beta of 1.32. Gartner, Inc. has a 1-year low of $397.43 and a 1-year high of $552.33. The business’s 50 day simple moving average is $511.54 and its two-hundred day simple moving average is $473.53. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.90.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the business earned $2.56 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, equities analysts predict that Gartner, Inc. will post 11.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Gartner

Several institutional investors and hedge funds have recently bought and sold shares of IT. Vanguard Group Inc. increased its stake in Gartner by 0.7% in the first quarter. Vanguard Group Inc. now owns 8,974,760 shares of the information technology services provider’s stock valued at $4,277,999,000 after acquiring an additional 60,786 shares during the period. Principal Financial Group Inc. boosted its stake in Gartner by 5.5% in the 3rd quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock valued at $1,014,099,000 after buying an additional 103,814 shares in the last quarter. Bessemer Group Inc. raised its stake in Gartner by 1.3% during the first quarter. Bessemer Group Inc. now owns 609,945 shares of the information technology services provider’s stock worth $290,742,000 after acquiring an additional 7,852 shares in the last quarter. Sustainable Growth Advisers LP bought a new position in shares of Gartner during the second quarter valued at $266,541,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Gartner by 10.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 585,026 shares of the information technology services provider’s stock worth $262,706,000 after purchasing an additional 56,908 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on IT shares. Bank of America upped their target price on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a report on Wednesday. UBS Group boosted their target price on shares of Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Robert W. Baird raised their target price on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Gartner currently has an average rating of “Hold” and an average target price of $539.25.

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.