James C. Smith Sells 5,000 Shares of Gartner, Inc. (NYSE:IT) Stock

Gartner, Inc. (NYSE:IT) Director James C. Smith sold 5,000 shares of Gartner stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $524.02, for a total value of $2,620,100.00. Following the completion of the sale, the director now owns 509,457 shares of the company’s stock, valued at approximately $266,965,657.14. The trade was a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Gartner Price Performance

Shares of IT opened at $519.23 on Friday. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a 50 day simple moving average of $520.81 and a 200 day simple moving average of $482.87. Gartner, Inc. has a 52-week low of $411.15 and a 52-week high of $559.00. The firm has a market capitalization of $40.05 billion, a PE ratio of 38.29, a P/E/G ratio of 3.24 and a beta of 1.32.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.05. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the firm earned $2.56 EPS. Gartner’s quarterly revenue was up 5.4% compared to the same quarter last year. Sell-side analysts predict that Gartner, Inc. will post 11.89 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IT. Morgan Stanley boosted their target price on Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Wells Fargo & Company boosted their target price on Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 6th. Barclays boosted their target price on Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $539.25.

Institutional Investors Weigh In On Gartner

Several institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. lifted its stake in Gartner by 3.3% in the 3rd quarter. Franklin Resources Inc. now owns 801,589 shares of the information technology services provider’s stock valued at $422,678,000 after acquiring an additional 25,315 shares in the last quarter. Tidal Investments LLC lifted its stake in Gartner by 9.0% in the 3rd quarter. Tidal Investments LLC now owns 8,824 shares of the information technology services provider’s stock valued at $4,472,000 after acquiring an additional 732 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Gartner in the 3rd quarter valued at approximately $897,000. Pine Valley Investments Ltd Liability Co lifted its stake in Gartner by 15.6% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 17,146 shares of the information technology services provider’s stock valued at $8,689,000 after acquiring an additional 2,313 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in Gartner in the 3rd quarter valued at approximately $1,216,000. Institutional investors own 91.51% of the company’s stock.

About Gartner

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.