Gartner, Inc. (NYSE:IT) CEO Eugene A. Hall Sells 10,425 Shares

Gartner, Inc. (NYSE:ITGet Rating) CEO Eugene A. Hall sold 10,425 shares of Gartner stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $294.26, for a total transaction of $3,067,660.50. Following the sale, the chief executive officer now owns 1,167,041 shares of the company’s stock, valued at $343,413,484.66. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Gartner Stock Up 0.7 %

IT stock opened at $295.44 on Friday. The stock has a market capitalization of $23.79 billion, a P/E ratio of 33.31 and a beta of 1.45. The company has a debt-to-equity ratio of 20.79, a quick ratio of 0.70 and a current ratio of 0.62. Gartner, Inc. has a one year low of $221.39 and a one year high of $368.99. The company has a 50 day moving average price of $251.55 and a two-hundred day moving average price of $271.96.

Gartner (NYSE:ITGet Rating) last released its earnings results on Tuesday, August 2nd. The information technology services provider reported $2.85 EPS for the quarter, topping the consensus estimate of $2.15 by $0.70. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Gartner had a net margin of 14.42% and a return on equity of 497.67%. Gartner’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.24 EPS. As a group, sell-side analysts expect that Gartner, Inc. will post 9.15 EPS for the current year.

Gartner announced that its board has approved a stock buyback program on Tuesday, May 3rd that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the information technology services provider to repurchase up to 2.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Gartner

Hedge funds and other institutional investors have recently bought and sold shares of the company. Lindbrook Capital LLC grew its stake in Gartner by 168.4% in the 2nd quarter. Lindbrook Capital LLC now owns 102 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 64 shares during the period. Clearstead Advisors LLC purchased a new stake in shares of Gartner during the 1st quarter valued at $27,000. Crewe Advisors LLC purchased a new stake in shares of Gartner during the 2nd quarter valued at $30,000. Cambridge Trust Co. purchased a new stake in shares of Gartner during the 1st quarter valued at $31,000. Finally, JFS Wealth Advisors LLC grew its stake in shares of Gartner by 588.2% during the 1st quarter. JFS Wealth Advisors LLC now owns 117 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 100 shares during the period. 92.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IT has been the subject of a number of research reports. Wells Fargo & Company lifted their price target on shares of Gartner from $305.00 to $345.00 and gave the company an “overweight” rating in a research report on Wednesday. Robert W. Baird raised their price objective on shares of Gartner from $334.00 to $365.00 in a research note on Wednesday. Morgan Stanley raised their price objective on shares of Gartner from $274.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday. BMO Capital Markets dropped their price objective on shares of Gartner from $315.00 to $265.00 and set a “market perform” rating for the company in a research note on Tuesday, June 21st. Finally, Bank of America raised shares of Gartner from a “neutral” rating to a “buy” rating and set a $340.00 price objective for the company in a research note on Thursday, April 14th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Gartner has a consensus rating of “Moderate Buy” and an average price target of $321.67.

About Gartner

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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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Insider Buying and Selling by Quarter for Gartner (NYSE:IT)

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