Gartner, Inc. (NYSE:IT) Director Richard J. Bressler Sells 6,413 Shares of Stock

Gartner, Inc. (NYSE:IT) Director Richard J. Bressler sold 6,413 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $418.97, for a total value of $2,686,854.61. Following the completion of the sale, the director now owns 11,871 shares in the company, valued at $4,973,592.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Gartner Price Performance

Shares of IT opened at $424.90 on Tuesday. Gartner, Inc. has a twelve month low of $292.60 and a twelve month high of $425.96. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 4.32. The company has a 50 day moving average of $360.89 and a 200-day moving average of $348.69. The stock has a market capitalization of $33.12 billion, a P/E ratio of 36.53, a P/E/G ratio of 5.98 and a beta of 1.24.

Gartner (NYSE:IT) last announced its quarterly earnings results on Friday, November 3rd. The information technology services provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.60. Gartner had a return on equity of 206.71% and a net margin of 15.97%. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the firm posted $2.41 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities research analysts forecast that Gartner, Inc. will post 11.03 EPS for the current fiscal year.

Gartner announced that its Board of Directors has initiated a stock repurchase plan on Friday, November 3rd that allows the company to buyback $500.00 million in shares. This buyback authorization allows the information technology services provider to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on IT shares. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. BMO Capital Markets dropped their price target on Gartner from $352.00 to $346.00 in a research report on Thursday, August 3rd. Finally, Morgan Stanley boosted their price target on Gartner from $366.00 to $372.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 2nd. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Gartner currently has a consensus rating of “Hold” and an average target price of $363.20.

Institutional Investors Weigh In On Gartner

A number of hedge funds and other institutional investors have recently modified their holdings of IT. OFI Invest Asset Management acquired a new position in Gartner in the third quarter valued at about $25,000. Arlington Partners LLC lifted its stake in Gartner by 275.0% in the second quarter. Arlington Partners LLC now owns 75 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 55 shares during the period. Cornerstone Planning Group LLC acquired a new position in shares of Gartner during the second quarter worth approximately $27,000. Resurgent Financial Advisors LLC bought a new stake in Gartner during the fourth quarter worth $29,000. Finally, Cary Street Partners Investment Advisory LLC grew its holdings in Gartner by 357.9% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 87 shares of the information technology services provider’s stock worth $30,000 after buying an additional 68 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Gartner Company Profile

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.