Insider Selling: Gartner, Inc. (NYSE:IT) CEO Sells 34,060 Shares of Stock

Gartner, Inc. (NYSE:IT) CEO Eugene A. Hall sold 34,060 shares of Gartner stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $505.40, for a total value of $17,213,924.00. Following the sale, the chief executive officer now directly owns 1,143,401 shares of the company’s stock, valued at $577,874,865.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Gartner Stock Performance

IT stock traded down $0.48 during trading on Monday, reaching $510.08. The company had a trading volume of 249,294 shares, compared to its average volume of 388,179. The company has a market cap of $39.60 billion, a price-to-earnings ratio of 50.80, a price-to-earnings-growth ratio of 3.89 and a beta of 1.32. Gartner, Inc. has a twelve month low of $323.61 and a twelve month high of $515.09. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a 50-day simple moving average of $477.01 and a 200-day simple moving average of $460.61.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wells Fargo & Company upgraded Gartner to a “strong sell” rating in a research note on Tuesday, August 13th. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Robert W. Baird raised their price objective on Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. UBS Group raised 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. Finally, Morgan Stanley boosted their price objective on shares of Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $521.00.

Institutional Trading of Gartner

Large investors have recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC acquired a new stake in shares of Gartner in the fourth quarter worth $27,000. DSM Capital Partners LLC acquired a new stake in Gartner during the 4th quarter worth about $32,000. Central Pacific Bank Trust Division acquired a new stake in Gartner during the 1st quarter worth about $36,000. Crewe Advisors LLC lifted its holdings in shares of Gartner by 223.3% in the 2nd quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after buying an additional 67 shares during the period. Finally, J.Safra Asset Management Corp boosted its stake in shares of Gartner by 58.7% in the first 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.

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.