Gartner Inc (NYSE:IT) SVP Peter Sondergaard sold 4,172 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $111.90, for a total value of $466,846.80. Following the completion of the transaction, the senior vice president now owns 93,765 shares in the company, valued at approximately $10,492,303.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Gartner Inc (NYSE:IT) traded up 0.89% during mid-day trading on Friday, reaching $113.41. The company’s stock had a trading volume of 499,308 shares. The company has a 50-day moving average price of $111.86 and a 200-day moving average price of $104.54. Gartner Inc has a 12-month low of $84.54 and a 12-month high of $116.48. The firm has a market cap of $10.26 billion, a PE ratio of 51.55 and a beta of 1.09.
Gartner (NYSE:IT) last released its quarterly earnings results on Thursday, May 4th. The information technology services provider reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.61 by $0.01. The firm had revenue of $625.17 million for the quarter, compared to the consensus estimate of $612.84 million. Gartner had a net margin of 7.57% and a negative return on equity of 408.56%. Gartner’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.67 earnings per share. On average, equities research analysts expect that Gartner Inc will post $3.48 earnings per share for the current year.
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A number of research analysts have recently weighed in on IT shares. Barclays PLC raised their target price on Gartner from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, April 6th. Zacks Investment Research lowered Gartner from a “hold” rating to a “sell” rating in a report on Tuesday, March 14th. Royal Bank of Canada upgraded Gartner from an “outperform” rating to a “top pick” rating and lifted their price target for the stock from $117.00 to $124.00 in a report on Monday, March 13th. Credit Suisse Group AG reiterated a “buy” rating and set a $124.00 price target on shares of Gartner in a report on Tuesday, April 11th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $110.00 price target on shares of Gartner in a report on Wednesday, April 5th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $118.36.
Several institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Gartner by 2.0% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 11,967 shares of the information technology services provider’s stock valued at $1,058,000 after buying an additional 229 shares during the last quarter. Rothschild Asset Management Inc. boosted its position in Gartner by 37.5% in the third quarter. Rothschild Asset Management Inc. now owns 5,481 shares of the information technology services provider’s stock valued at $485,000 after buying an additional 1,496 shares during the last quarter. Capital Fund Management S.A. purchased a new position in Gartner during the third quarter valued at $1,902,000. Quantbot Technologies LP boosted its position in Gartner by 97.0% in the third quarter. Quantbot Technologies LP now owns 7,163 shares of the information technology services provider’s stock valued at $633,000 after buying an additional 3,527 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its position in Gartner by 2.4% in the third quarter. Mutual of America Capital Management LLC now owns 62,747 shares of the information technology services provider’s stock valued at $5,550,000 after buying an additional 1,494 shares during the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.
Gartner, Inc is an information technology research and advisory company. The Company works with clients to research, analyze and interpret the business of information technology (IT), supply chain and marketing within the context of their individual roles. It operates in three segments: Research, Consulting and Events.
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