John J. Rinello Sells 109 Shares of Gartner, Inc. (NYSE:IT) Stock

Gartner, Inc. (NYSE:IT) SVP John J. Rinello sold 109 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $436.35, for a total value of $47,562.15. Following the sale, the senior vice president now directly owns 3,280 shares in the company, valued at $1,431,228. This represents a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Gartner Price Performance

Gartner stock opened at $432.12 on Friday. The company has a fifty day simple moving average of $423.97 and a 200-day simple moving average of $482.39. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $33.19 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 3.30 and a beta of 1.24. Gartner, Inc. has a 52-week low of $366.05 and a 52-week high of $584.01.

Gartner (NYSE:IT) last released its earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.72 by $0.26. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the company posted $2.93 EPS. On average, equities analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IT. Barclays dropped their target price on Gartner from $510.00 to $475.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a report on Friday, March 21st. UBS Group raised their price target on shares of Gartner from $500.00 to $525.00 and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley decreased their price objective on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group cut their price target on Gartner from $622.00 to $535.00 and set a “buy” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $518.67.

Institutional Trading of Gartner

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cary Street Partners Financial LLC purchased a new position in Gartner during the fourth quarter worth about $27,000. Kestra Investment Management LLC purchased a new stake in Gartner in the fourth quarter valued at $29,000. Itau Unibanco Holding S.A. lifted its stake in shares of Gartner by 453.3% in the 4th quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider’s stock valued at $40,000 after purchasing an additional 68 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Gartner during the 4th quarter worth $49,000. Finally, Olde Wealth Management LLC acquired a new stake in shares of Gartner during the 1st quarter worth about $42,000. 91.51% of the stock is owned by institutional investors and hedge funds.

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.