James C. Smith Sells 5,000 Shares of Gartner, Inc. (NYSE:IT) Stock

Gartner, Inc. (NYSE:IT) Director James C. Smith sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $524.02, for a total transaction of $2,620,100.00. Following the completion of the transaction, the director now owns 509,457 shares in the company, valued at $266,965,657.14. This represents a 0.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Gartner Price Performance

Shares of IT stock opened at $517.78 on Friday. The business’s fifty day moving average is $520.93 and its 200 day moving average is $483.12. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31. The stock has a market cap of $39.94 billion, a price-to-earnings ratio of 38.18, a PEG ratio of 3.24 and a beta of 1.32. Gartner, Inc. has a twelve month low of $411.15 and a twelve month high of $559.00.

Gartner (NYSE:IT) last released its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.05. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the firm earned $2.56 EPS. The company’s revenue was up 5.4% compared to the same quarter last year. Research analysts expect that Gartner, Inc. will post 11.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Gartner

A number of hedge funds have recently made changes to their positions in IT. Sustainable Growth Advisers LP purchased a new position in Gartner during the second quarter valued at $266,541,000. Principal Financial Group Inc. grew its stake in shares of Gartner by 22.0% in 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 acquiring an additional 341,911 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Gartner during the third quarter valued at $70,955,000. Natixis Advisors LLC raised its position in shares of Gartner by 117.4% in the 2nd quarter. Natixis Advisors LLC now owns 200,097 shares of the information technology services provider’s stock worth $89,856,000 after purchasing an additional 108,061 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Gartner in the 3rd quarter worth about $36,789,000. 91.51% of the stock is owned by institutional investors.

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.