Insider Selling: Gartner, Inc. (NYSE:IT) Director Sells 1,200 Shares of Stock

Gartner, Inc. (NYSE:IT) Director Eileen Serra sold 1,200 shares of Gartner stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $489.77, for a total value of $587,724.00. Following the transaction, the director now owns 1,627 shares of the company’s stock, valued at $796,855.79. The trade was a 42.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Gartner Price Performance

IT stock traded down $5.02 during midday trading on Wednesday, reaching $498.05. The company had a trading volume of 351,651 shares, compared to its average volume of 483,509. Gartner, Inc. has a 1-year low of $411.15 and a 1-year high of $584.01. The stock has a 50 day moving average price of $509.46 and a 200-day moving average price of $509.89. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market capitalization of $38.26 billion, a price-to-earnings ratio of 31.07, a price-to-earnings-growth ratio of 3.30 and a beta of 1.34.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, beating the consensus estimate of $3.22 by $2.23. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.04 EPS. Equities research analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IT has been the subject of several research analyst reports. Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley dropped their price objective on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Wells Fargo & Company reduced their target price on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a report on Friday, January 10th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Gartner has a consensus rating of “Hold” and an average price target of $552.63.

Institutional Investors Weigh In On Gartner

A number of large investors have recently modified their holdings of IT. Cary Street Partners Financial LLC acquired a new position in shares of Gartner during the 4th quarter worth $27,000. Kestra Investment Management LLC acquired a new position in Gartner during the fourth quarter worth about $29,000. Itau Unibanco Holding S.A. raised its stake in Gartner by 453.3% during the fourth quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider’s stock worth $40,000 after acquiring an additional 68 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Gartner in the 3rd quarter valued at approximately $44,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Gartner in the 4th quarter valued at approximately $49,000. Institutional investors and hedge funds own 91.51% 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.