Gartner (NYSE:IT) Trading Up 4.9% on Insider Buying Activity

Gartner, Inc. (NYSE:IT) shares were up 4.9% during mid-day trading on Monday following insider buying activity. The stock traded as high as $245.38 and last traded at $245.40. Approximately 423,366 shares traded hands during trading, a decline of 55% from the average daily volume of 950,473 shares. The stock had previously closed at $233.89.

Specifically, Director Stephen G. Pagliuca bought 43,300 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were purchased at an average price of $229.57 per share, for a total transaction of $9,940,381.00. Following the completion of the acquisition, the director owned 111,613 shares of the company’s stock, valued at approximately $25,622,996.41. This trade represents a 63.38% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Wall Street Analysts Forecast Growth

IT has been the topic of a number of analyst reports. Wolfe Research started coverage on shares of Gartner in a research report on Wednesday, September 3rd. They issued a “peer perform” rating on the stock. Royal Bank Of Canada initiated coverage on Gartner in a report on Tuesday, September 9th. They set a “sector perform” rating and a $263.00 price target on the stock. Truist Financial set a $300.00 price target on Gartner in a report on Wednesday, November 26th. William Blair reaffirmed an “outperform” rating on shares of Gartner in a research report on Tuesday, October 21st. Finally, BMO Capital Markets cut their price objective on Gartner from $272.00 to $254.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Gartner has a consensus rating of “Hold” and an average target price of $311.67.

Gartner Stock Performance

The company has a 50-day simple moving average of $237.16 and a two-hundred day simple moving average of $291.78. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market capitalization of $17.69 billion, a P/E ratio of 21.54 and a beta of 1.08.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, November 4th. The information technology services provider reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.35. The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.52 billion. Gartner had a return on equity of 92.12% and a net margin of 13.71%.Gartner has set its FY 2025 guidance at 12.650- EPS. As a group, equities analysts forecast that Gartner, Inc. will post 12.5 EPS for the current year.

Institutional Investors Weigh In On Gartner

A number of hedge funds and other institutional investors have recently bought and sold shares of IT. Addison Advisors LLC bought a new position in shares of Gartner during the second quarter valued at $27,000. Ransom Advisory Ltd purchased a new position in Gartner in the 1st quarter worth about $29,000. Chilton Capital Management LLC bought a new position in Gartner during the 2nd quarter valued at about $47,000. Osterweis Capital Management Inc. purchased a new stake in shares of Gartner during the 2nd quarter valued at about $48,000. Finally, Bayforest Capital Ltd grew its stake in shares of Gartner by 527.3% in the first quarter. Bayforest Capital Ltd now owns 138 shares of the information technology services provider’s stock worth $58,000 after acquiring an additional 116 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

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.