Insider Selling: Gartner, Inc. (NYSE:IT) EVP Sells $2,734,200.00 in Stock

Gartner, Inc. (NYSE:IT) EVP Scott Hensel sold 5,580 shares of Gartner stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $490.00, for a total transaction of $2,734,200.00. Following the completion of the sale, the executive vice president now owns 19,724 shares in the company, valued at approximately $9,664,760. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Gartner Price Performance

IT opened at $483.86 on Friday. The stock has a 50-day moving average price of $470.86 and a 200-day moving average price of $458.69. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $37.56 billion, a PE ratio of 48.15, a P/E/G ratio of 3.83 and a beta of 1.33. Gartner, Inc. has a 1 year low of $323.61 and a 1 year high of $509.15.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.20. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.58 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. Gartner’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.85 EPS. Sell-side analysts predict that Gartner, Inc. will post 11.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gartner

Several large investors have recently modified their holdings of IT. Frazier Financial Advisors LLC purchased a new position in Gartner in the 4th quarter worth about $27,000. DSM Capital Partners LLC purchased a new position in Gartner in the 4th quarter worth about $32,000. Central Pacific Bank Trust Division purchased a new position in Gartner in the 1st quarter worth about $36,000. Crewe Advisors LLC raised its position in Gartner by 223.3% in the 2nd quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock worth $44,000 after buying an additional 67 shares during the last quarter. Finally, J.Safra Asset Management Corp raised its position in Gartner by 58.7% in the 1st quarter. J.Safra Asset Management Corp now owns 146 shares of the information technology services provider’s stock worth $70,000 after buying an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on IT shares. UBS Group lifted their price target on shares of Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Robert W. Baird lifted their price target on shares of Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. BMO Capital Markets boosted their target price on shares of Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Wells Fargo & Company upgraded shares of Gartner to a “strong sell” rating in a report on Tuesday, August 13th. Finally, Bank of America boosted their target price on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $521.00.

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.