Gartner, Inc. (NYSE:IT) Sees Significant Growth in Short Interest

Gartner, Inc. (NYSE:ITGet Free Report) saw a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 1,060,000 shares, a growth of 7.9% from the February 29th total of 982,100 shares. Based on an average daily volume of 394,900 shares, the short-interest ratio is presently 2.7 days. Currently, 1.4% of the company’s shares are short sold.

Gartner Trading Down 1.7 %

Shares of Gartner stock opened at $469.48 on Wednesday. Gartner has a 12-month low of $292.60 and a 12-month high of $486.54. The stock has a market capitalization of $36.61 billion, a P/E ratio of 42.45, a price-to-earnings-growth ratio of 4.36 and a beta of 1.29. The company has a 50-day simple moving average of $464.98 and a 200 day simple moving average of $425.45. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.60.

Gartner (NYSE:ITGet Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.21. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. Gartner had a net margin of 14.94% and a return on equity of 156.35%. The company’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business posted $3.70 earnings per share. Research analysts expect that Gartner will post 11.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on IT shares. Morgan Stanley increased their price objective on Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. UBS Group boosted their price target on Gartner from $412.00 to $490.00 and gave the company a “neutral” rating in a research note on Tuesday, February 6th. Wells Fargo & Company raised their price objective on Gartner from $380.00 to $435.00 and gave the stock an “overweight” rating in a research report on Friday, December 15th. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. Finally, BMO Capital Markets raised their price objective on shares of Gartner from $444.00 to $450.00 and gave the stock a “market perform” rating in a report on Thursday, February 8th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $455.25.

View Our Latest Stock Analysis on IT

Insider Transactions at Gartner

In other Gartner news, EVP Valentin Sribar sold 682 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $453.00, for a total transaction of $308,946.00. Following the completion of the sale, the executive vice president now directly owns 12,269 shares in the company, valued at approximately $5,557,857. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Gartner news, EVP Yvonne Genovese sold 560 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $457.37, for a total value of $256,127.20. Following the completion of the sale, the executive vice president now owns 2,398 shares of the company’s stock, valued at $1,096,773.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Valentin Sribar sold 682 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $453.00, for a total transaction of $308,946.00. Following the completion of the sale, the executive vice president now owns 12,269 shares of the company’s stock, valued at $5,557,857. The disclosure for this sale can be found here. Insiders have sold 22,952 shares of company stock valued at $10,598,070 over the last three months. Company insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Gartner

Several institutional investors have recently bought and sold shares of IT. US Bancorp DE lifted its position in shares of Gartner by 6.0% during the first quarter. US Bancorp DE now owns 2,563 shares of the information technology services provider’s stock worth $762,000 after purchasing an additional 144 shares in the last quarter. Aviva PLC grew its position in shares of Gartner by 53.3% during the 1st quarter. Aviva PLC now owns 42,028 shares of the information technology services provider’s stock worth $12,502,000 after buying an additional 14,618 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Gartner by 9.5% during the first quarter. Canada Pension Plan Investment Board now owns 27,043 shares of the information technology services provider’s stock worth $8,044,000 after buying an additional 2,347 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in Gartner by 25.2% in the first quarter. Allianz Asset Management GmbH now owns 98,889 shares of the information technology services provider’s stock valued at $29,415,000 after buying an additional 19,892 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Gartner by 1.1% in the first quarter. Vanguard Group Inc. now owns 9,198,161 shares of the information technology services provider’s stock valued at $2,736,085,000 after acquiring an additional 102,709 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

About Gartner

(Get Free Report)

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.

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