Gartner, Inc. (NYSE:IT) EVP Sells $40,056.00 in Stock

Gartner, Inc. (NYSE:IT) EVP Akhil Jain sold 100 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $400.56, for a total transaction of $40,056.00. Following the completion of the transaction, the executive vice president now directly owns 3,311 shares in the company, valued at $1,326,254.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Gartner Price Performance

Shares of NYSE IT opened at $417.78 on Thursday. The company has a fifty day moving average price of $358.30 and a 200 day moving average price of $346.80. The firm has a market cap of $32.57 billion, a PE ratio of 35.92, a PEG ratio of 5.93 and a beta of 1.24. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 4.32. Gartner, Inc. has a 1-year low of $292.60 and a 1-year high of $425.96.

Gartner (NYSE:IT) last posted its quarterly earnings data on Friday, November 3rd. The information technology services provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.60. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Gartner had a return on equity of 206.71% and a net margin of 15.97%. Gartner’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.41 earnings per share. Research analysts predict that Gartner, Inc. will post 11.03 earnings per share for the current fiscal year.

Gartner declared that its board has authorized a stock buyback program on Friday, November 3rd that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

IT has been the subject of a number of analyst reports. BMO Capital Markets decreased their price objective on Gartner from $352.00 to $346.00 in a research note on Thursday, August 3rd. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. Finally, Morgan Stanley boosted their price objective on shares of Gartner from $366.00 to $372.00 and gave the company an “equal weight” rating in a report on Wednesday, August 2nd. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Gartner presently has an average rating of “Hold” and a consensus price target of $363.20.

Institutional Investors Weigh In On Gartner

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SNC increased its holdings in shares of Gartner by 10.1% in the second quarter. BNP Paribas Arbitrage SNC now owns 141,851 shares of the information technology services provider’s stock valued at $49,692,000 after purchasing an additional 12,972 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in Gartner by 3.2% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 29,157 shares of the information technology services provider’s stock valued at $9,498,000 after acquiring an additional 912 shares during the period. Commerce Bank lifted its position in Gartner by 9.8% during the first quarter. Commerce Bank now owns 12,369 shares of the information technology services provider’s stock worth $4,029,000 after acquiring an additional 1,105 shares during the last quarter. Aviva PLC boosted its holdings in shares of Gartner by 71.3% during the first quarter. Aviva PLC now owns 62,195 shares of the information technology services provider’s stock worth $20,261,000 after acquiring an additional 25,891 shares during the period. Finally, NewEdge Wealth LLC grew its position in shares of Gartner by 16.9% in the first quarter. NewEdge Wealth LLC now owns 2,153 shares of the information technology services provider’s stock valued at $701,000 after purchasing an additional 312 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

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.