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

Gartner, Inc. (NYSE:IT) Director James C. Smith sold 5,000 shares of the company’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 sale, the director now directly owns 509,457 shares in the company, valued at approximately $266,965,657.14. The trade was a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Gartner Trading Down 0.7 %

NYSE:IT opened at $519.23 on Thursday. Gartner, Inc. has a 1 year low of $411.15 and a 1 year high of $559.00. The stock has a market cap of $40.05 billion, a P/E ratio of 38.29, a P/E/G ratio of 3.24 and a beta of 1.32. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a 50-day simple moving average of $520.55 and a 200-day simple moving average of $482.61.

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

Wall Street Analyst Weigh In

Several research firms have commented on IT. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Barclays boosted 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. Morgan Stanley increased their price target on Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Bank of America boosted their price objective on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Robert W. Baird raised their target price on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. One investment 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. According to MarketBeat.com, Gartner currently has a consensus rating of “Hold” and a consensus price target of $539.25.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. State Street Corp lifted its position in Gartner by 1.1% in the third quarter. State Street Corp now owns 3,257,355 shares of the information technology services provider’s stock valued at $1,650,697,000 after acquiring an additional 36,258 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Gartner by 1.9% during the third quarter. Geode Capital Management LLC now owns 2,018,358 shares of the information technology services provider’s stock worth $1,020,378,000 after purchasing an additional 36,698 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of 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 purchasing an additional 103,814 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Gartner by 3.3% in the 3rd quarter. Franklin Resources Inc. now owns 801,589 shares of the information technology services provider’s stock valued at $422,678,000 after purchasing an additional 25,315 shares during the period. Finally, Sustainable Growth Advisers LP purchased a new position in Gartner during the 2nd quarter worth approximately $266,541,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

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.