Gartner, Inc. (NYSE:IT) Short Interest Down 12.5% in July

Gartner, Inc. (NYSE:IT) saw a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 1,120,000 shares, a decline of 12.5% from the July 15th total of 1,280,000 shares. Based on an average trading volume of 402,800 shares, the short-interest ratio is presently 2.8 days. Approximately 1.5% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wells Fargo & Company upgraded shares of Gartner to a “strong sell” rating in a report on Tuesday, August 13th. UBS Group boosted their target price on Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets lifted their price target on shares of Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Robert W. Baird boosted their price objective on shares of Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley raised their target price on shares of Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Gartner has a consensus rating of “Hold” and a consensus target price of $521.00.

Gartner Stock Down 0.4 %

Gartner stock traded down $2.06 during trading hours on Monday, hitting $480.64. The stock had a trading volume of 119,378 shares, compared to its average volume of 400,917. The stock’s 50-day moving average price is $459.28 and its 200-day moving average price is $456.05. The stock has a market capitalization of $37.31 billion, a P/E ratio of 48.09, a price-to-earnings-growth ratio of 3.80 and a beta of 1.33. Gartner has a 12-month low of $323.61 and a 12-month high of $509.15. The company has a quick ratio of 0.91, a current ratio of 0.90 and a debt-to-equity ratio of 3.80.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $3.02 by $0.20. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the business earned $2.85 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts anticipate that Gartner will post 11.58 EPS for the current fiscal year.

Insider Transactions at Gartner

In other news, CEO Eugene A. Hall sold 12,082 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $504.84, for a total transaction of $6,099,476.88. Following the transaction, the chief executive officer now directly owns 1,143,389 shares in the company, valued at approximately $577,228,502.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Eugene A. Hall sold 12,082 shares of Gartner stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $504.84, for a total value of $6,099,476.88. Following the transaction, the chief executive officer now owns 1,143,389 shares in the company, valued at approximately $577,228,502.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Karen E. Dykstra sold 1,683 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $465.55, for a total value of $783,520.65. Following the sale, the director now owns 19,825 shares of the company’s stock, valued at $9,229,528.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,770 shares of company stock valued at $12,700,121. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sheaff Brock Investment Advisors LLC boosted its holdings in Gartner by 0.5% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 4,900 shares of the information technology services provider’s stock worth $2,210,000 after purchasing an additional 22 shares during the last quarter. Moors & Cabot Inc. boosted its stake in shares of Gartner by 3.0% in the 2nd quarter. Moors & Cabot Inc. now owns 763 shares of the information technology services provider’s stock worth $343,000 after buying an additional 22 shares during the last quarter. TIAA Trust National Association boosted its stake in shares of Gartner by 3.2% in the 1st quarter. TIAA Trust National Association now owns 744 shares of the information technology services provider’s stock worth $355,000 after buying an additional 23 shares during the last quarter. Mather Group LLC. grew its holdings in shares of Gartner by 2.2% in the second quarter. Mather Group LLC. now owns 1,079 shares of the information technology services provider’s stock worth $514,000 after acquiring an additional 23 shares during the period. Finally, Wallace Advisory Group LLC increased its position in Gartner by 2.4% during the second quarter. Wallace Advisory Group LLC now owns 980 shares of the information technology services provider’s stock valued at $440,000 after acquiring an additional 23 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

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.