Short Interest in Gartner, Inc. (NYSE:IT) Grows By 9.3%

Gartner, Inc. (NYSE:IT) was the target of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 1,170,000 shares, an increase of 9.3% from the October 31st total of 1,070,000 shares. Currently, 1.6% of the company’s stock are short sold. Based on an average daily volume of 316,200 shares, the days-to-cover ratio is presently 3.7 days.

Insiders Place Their Bets

In related news, EVP Claire Herkes sold 411 shares of Gartner stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $521.24, for a total value of $214,229.64. Following the completion of the sale, the executive vice president now directly owns 1,494 shares in the company, valued at approximately $778,732.56. This trade represents a 21.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Akhil Jain sold 500 shares of Gartner stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $492.00, for a total transaction of $246,000.00. Following the completion of the sale, the executive vice president now owns 4,339 shares of the company’s stock, valued at $2,134,788. This represents a 10.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,560 shares of company stock worth $37,909,141. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Gartner

Several institutional investors and hedge funds have recently bought and sold shares of IT. Eastern Bank purchased a new stake in Gartner in the third quarter valued at $26,000. Ashton Thomas Securities LLC purchased a new stake in Gartner in the 3rd quarter valued at $44,000. Crewe Advisors LLC lifted its holdings in Gartner by 223.3% in the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after acquiring an additional 67 shares during the last quarter. True Wealth Design LLC boosted its position in shares of Gartner by 2,350.0% during the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after purchasing an additional 94 shares during the period. Finally, Fortitude Family Office LLC boosted its position in shares of Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after buying an additional 20 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Trading Down 0.3 %

Shares of Gartner stock traded down $1.44 during trading on Tuesday, hitting $515.56. The stock had a trading volume of 510,017 shares, compared to its average volume of 373,848. The stock has a market cap of $39.77 billion, a PE ratio of 38.03, a PEG ratio of 3.23 and a beta of 1.31. Gartner has a 12 month low of $411.15 and a 12 month high of $559.00. The firm’s fifty day simple moving average is $521.03 and its 200-day simple moving average is $484.77. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.05. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the company earned $2.56 EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts expect that Gartner will post 11.89 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on IT shares. Robert W. Baird increased their target price on shares of Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft increased their price target on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Barclays increased their target price on Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company increased their price objective on shares of Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Gartner has an average rating of “Hold” and a consensus target price of $539.25.

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.