Gartner, Inc. (NYSE:IT) SVP Sells $167,685.44 in Stock

Gartner, Inc. (NYSE:IT) SVP William James Wartinbee III sold 416 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $403.09, for a total transaction of $167,685.44. Following the transaction, the senior vice president now directly owns 6,641 shares of the company’s stock, valued at $2,676,920.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Gartner Stock Performance

Shares of NYSE IT opened at $417.78 on Thursday. The firm has a 50 day moving average of $358.30 and a 200 day moving average of $346.80. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 4.32. The firm has a market capitalization of $32.57 billion, a price-to-earnings ratio of 35.92, a price-to-earnings-growth ratio of 5.93 and a beta of 1.24. Gartner, Inc. has a 12-month low of $292.60 and a 12-month high of $425.96.

Gartner (NYSE:IT) last announced its earnings results on Friday, November 3rd. The information technology services provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.60. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.39 billion. Gartner had a net margin of 15.97% and a return on equity of 206.71%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.41 earnings per share. On average, research analysts anticipate that Gartner, Inc. will post 11.03 earnings per share for the current year.

Gartner declared that its board has authorized a share buyback program on Friday, November 3rd that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the information technology services provider to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Gartner

A number of hedge funds have recently modified their holdings of IT. Morgan Stanley boosted its position in shares of Gartner by 271.1% in the fourth quarter. Morgan Stanley now owns 2,151,011 shares of the information technology services provider’s stock worth $723,041,000 after purchasing an additional 1,571,413 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Gartner by 926.7% in the first quarter. Envestnet Asset Management Inc. now owns 1,726,215 shares of the information technology services provider’s stock worth $64,835,000 after buying an additional 1,558,080 shares in the last quarter. Norges Bank purchased a new position in shares of Gartner in the fourth quarter worth $263,599,000. Brown Advisory Inc. lifted its holdings in shares of Gartner by 2,360.5% in the first quarter. Brown Advisory Inc. now owns 779,471 shares of the information technology services provider’s stock worth $253,928,000 after buying an additional 747,791 shares in the last quarter. Finally, Gateway Advisory LLC purchased a new position in shares of Gartner in the first quarter worth $535,000. 90.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. BMO Capital Markets decreased their price objective on shares of Gartner from $352.00 to $346.00 in a report on Thursday, August 3rd. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a report on Monday, November 6th. Finally, Morgan Stanley boosted their target price on shares of Gartner from $366.00 to $372.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 2nd. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $363.20.

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.