Insider Selling: Gartner, Inc. (NYSE:IT) CFO Sells 3,415 Shares of Stock

Gartner, Inc. (NYSE:IT) CFO Craig Safian sold 3,415 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $450.17, for a total value of $1,537,330.55. Following the completion of the sale, the chief financial officer now owns 77,890 shares of the company’s stock, valued at approximately $35,063,741.30. This trade represents a 4.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Gartner Price Performance

Shares of IT opened at $445.55 on Thursday. The firm has a market cap of $34.23 billion, a price-to-earnings ratio of 27.79, a PEG ratio of 3.30 and a beta of 1.24. The stock has a 50 day moving average of $421.67 and a 200-day moving average of $480.94. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. Gartner, Inc. has a 52 week low of $366.05 and a 52 week high of $584.01.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, topping the consensus estimate of $2.72 by $0.26. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The business’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.93 EPS. As a group, analysts forecast that Gartner, Inc. will post 12.5 EPS for the current year.

Institutional Trading of Gartner

Hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new stake in Gartner during the 4th quarter valued at $460,541,000. T. Rowe Price Investment Management Inc. raised its stake in Gartner by 692.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,066,732 shares of the information technology services provider’s stock valued at $447,751,000 after acquiring an additional 932,077 shares in the last quarter. Madison Investment Advisors LLC bought a new stake in Gartner during the 4th quarter valued at $244,799,000. GAMMA Investing LLC increased its position in shares of Gartner by 40,841.0% during the 1st quarter. GAMMA Investing LLC now owns 499,071 shares of the information technology services provider’s stock valued at $209,480,000 after purchasing an additional 497,852 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Gartner during the 4th quarter valued at $165,476,000. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on IT shares. UBS Group increased their price target on Gartner from $500.00 to $525.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Barclays reduced their price target on Gartner from $510.00 to $475.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Robert W. Baird reduced their price target on Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Finally, Wells Fargo & Company reduced their price target on Gartner from $401.00 to $400.00 and set an “underweight” rating for the company in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $518.67.

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.