Short Interest in Gartner Inc (NYSE:IT) Expands By 8.2%

Gartner Inc (NYSE:IT) was the recipient of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 1,980,000 shares, a growth of 8.2% from the January 15th total of 1,830,000 shares. Approximately 2.3% of the shares of the company are short sold. Based on an average daily volume of 483,500 shares, the days-to-cover ratio is currently 4.1 days.

In related news, CFO Craig Safian sold 1,744 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $158.77, for a total transaction of $276,894.88. Also, Director Anne Sutherland Fuchs sold 2,000 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $158.77, for a total value of $317,540.00. Insiders have sold 13,409 shares of company stock worth $2,100,794 over the last 90 days. 4.00% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Gartner by 2.6% during the second quarter. BlackRock Inc. now owns 6,337,629 shares of the information technology services provider’s stock valued at $1,019,978,000 after purchasing an additional 161,750 shares during the period. Polen Capital Management LLC increased its holdings in shares of Gartner by 3.0% during the fourth quarter. Polen Capital Management LLC now owns 5,328,987 shares of the information technology services provider’s stock valued at $821,197,000 after purchasing an additional 153,981 shares during the period. State Street Corp increased its holdings in shares of Gartner by 0.7% during the fourth quarter. State Street Corp now owns 3,586,626 shares of the information technology services provider’s stock valued at $552,699,000 after purchasing an additional 23,469 shares during the period. ArrowMark Colorado Holdings LLC increased its holdings in shares of Gartner by 6.8% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 422,029 shares of the information technology services provider’s stock valued at $65,035,000 after purchasing an additional 26,889 shares during the period. Finally, GW&K Investment Management LLC increased its holdings in shares of Gartner by 10.3% during the third quarter. GW&K Investment Management LLC now owns 407,538 shares of the information technology services provider’s stock valued at $58,274,000 after purchasing an additional 38,093 shares during the period. 97.22% of the stock is currently owned by institutional investors.

NYSE IT traded up $1.53 during trading hours on Friday, hitting $152.41. The company had a trading volume of 470,843 shares, compared to its average volume of 626,972. Gartner has a fifty-two week low of $124.77 and a fifty-two week high of $171.77. The company has a quick ratio of 0.68, a current ratio of 0.71 and a debt-to-equity ratio of 3.06. The business has a fifty day simple moving average of $157.57 and a 200-day simple moving average of $148.66. The firm has a market cap of $13.34 billion, a P/E ratio of 59.30, a price-to-earnings-growth ratio of 2.86 and a beta of 1.22.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, February 4th. The information technology services provider reported $1.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.36. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. Gartner had a return on equity of 38.63% and a net margin of 5.50%. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the company earned $1.20 earnings per share. Equities analysts forecast that Gartner will post 4.07 EPS for the current fiscal year.

Several equities research analysts have weighed in on IT shares. Robert W. Baird increased their target price on Gartner from $166.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. TheStreet raised Gartner from a “c+” rating to a “b” rating in a research report on Tuesday, February 4th. Morgan Stanley increased their target price on Gartner from $156.00 to $158.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Jefferies Financial Group started coverage on Gartner in a research report on Wednesday, November 27th. They issued a “hold” rating and a $178.00 target price on the stock. Finally, ValuEngine lowered Gartner from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $160.83.

About Gartner

Gartner, Inc operates as a research and advisory company. It operates through three segments: Research, Conferences, and Consulting. The Research segment offers objective insights and advice on the priorities of various leaders in a range of functional areas of the enterprise through research and other reports, briefings, proprietary tools, access to analysts, peer networking services, and membership programs that enable clients to make better decisions; and practice and talent management research insights in various business functions, such as human resources, sales, legal, and finance.

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