Insider Selling: Gartner, Inc. (NYSE:IT) EVP Sells 625 Shares of Stock

Gartner, Inc. (NYSE:IT) EVP Akhil Jain sold 625 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $450.00, for a total value of $281,250.00. Following the sale, the executive vice president now directly owns 6,548 shares of the company’s stock, valued at approximately $2,946,600. This represents a 8.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Gartner Trading Up 0.1%

Shares of IT stock opened at $443.33 on Friday. Gartner, Inc. has a fifty-two week low of $366.05 and a fifty-two week high of $584.01. The stock has a market cap of $34.12 billion, a P/E ratio of 27.66, a P/E/G ratio of 3.30 and a beta of 1.24. The business has a fifty day simple moving average of $419.89 and a 200-day simple moving average of $478.29. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on IT shares. UBS Group increased their price objective on Gartner from $500.00 to $525.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Wells Fargo & Company cut their price objective on Gartner from $401.00 to $400.00 and set an “underweight” rating for the company in a research report on Thursday, May 1st. Barclays cut their price objective on Gartner from $510.00 to $475.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Wall Street Zen cut Gartner from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Finally, Robert W. Baird cut their price objective on Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $518.67.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IT. Norges Bank purchased a new position in shares of Gartner in the fourth quarter valued at $460,541,000. T. Rowe Price Investment Management Inc. increased its position in Gartner by 692.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,066,732 shares of the information technology services provider’s stock worth $447,751,000 after purchasing an additional 932,077 shares in the last quarter. Madison Investment Advisors LLC purchased a new stake in Gartner during the 4th quarter worth about $244,799,000. GAMMA Investing LLC increased its position in Gartner by 40,841.0% during the 1st quarter. GAMMA Investing LLC now owns 499,071 shares of the information technology services provider’s stock worth $209,480,000 after purchasing an additional 497,852 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Gartner during the 4th quarter worth about $165,476,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

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.