Gartner, Inc. (NYSE:IT) Director Sells $9,592,128.97 in Stock

Gartner, Inc. (NYSE:IT) Director James C. Smith sold 17,533 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $547.09, for a total value of $9,592,128.97. Following the completion of the transaction, the director now directly owns 532,294 shares of the company’s stock, valued at approximately $291,212,724.46. This trade represents a 3.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Gartner Trading Down 2.7 %

Shares of IT stock opened at $522.77 on Friday. Gartner, Inc. has a twelve month low of $411.15 and a twelve month high of $559.00. The stock’s fifty day simple moving average is $518.32 and its 200 day simple moving average is $477.49. 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 firm has a market capitalization of $40.28 billion, a P/E ratio of 38.55, a P/E/G ratio of 3.45 and a beta of 1.32.

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 return on equity of 118.27% and a net margin of 17.33%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the firm posted $2.56 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts predict that Gartner, Inc. will post 11.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Gartner

Several large investors have recently modified their holdings of IT. Eastern Bank bought a new stake in shares of Gartner in the third quarter worth $26,000. Crewe Advisors LLC grew its position in shares of Gartner by 223.3% in the 2nd quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after buying an additional 67 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Gartner in the third quarter valued at about $44,000. True Wealth Design LLC raised its position in shares of Gartner by 2,350.0% during the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after acquiring an additional 94 shares during the last quarter. Finally, Fortitude Family Office LLC lifted its stake in shares of Gartner by 23.8% in the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after acquiring an additional 20 shares during the period. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on IT shares. Bank of America boosted their target price on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Barclays upped their target price on Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. UBS Group lifted their price target on Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, BMO Capital Markets lifted their target price on Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Gartner currently has a consensus rating of “Hold” and an average 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.