Gartner (NYSE:IT) Reaches New 52-Week High at $517.98

Gartner, Inc. (NYSE:IT)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $517.98 and last traded at $516.32, with a volume of 8593 shares traded. The stock had previously closed at $511.08.

Wall Street Analysts Forecast Growth

IT has been the topic of several analyst reports. Wells Fargo & Company raised shares of Gartner to a “strong sell” rating in a report on Tuesday, August 13th. Bank of America lifted their price objective on Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. UBS Group raised their price target on Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Morgan Stanley increased their price objective on 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 given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $521.00.

Gartner Stock Up 0.9 %

The firm has a market cap of $40.04 billion, a price-to-earnings ratio of 50.85, a P/E/G ratio of 3.21 and a beta of 1.32. The firm has a 50 day moving average price of $486.21 and a 200-day moving average price of $463.12. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 3.80.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the prior year, the firm earned $2.85 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities analysts forecast that Gartner, Inc. will post 11.65 EPS for the current year.

Insider Buying and Selling at Gartner

In related news, EVP Alwyn Dawkins sold 1,000 shares of Gartner stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $505.49, for a total transaction of $505,490.00. Following the completion of the sale, the executive vice president now owns 56,650 shares in the company, valued at approximately $28,636,008.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Alwyn Dawkins sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $505.49, for a total transaction of $505,490.00. Following the transaction, the executive vice president now owns 56,650 shares of the company’s stock, valued at $28,636,008.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Claire Herkes sold 478 shares of Gartner stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $506.01, for a total transaction of $241,872.78. Following the completion of the sale, the executive vice president now directly owns 1,905 shares of the company’s stock, valued at $963,949.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,164 shares of company stock worth $32,601,014. 3.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Gartner

Large investors have recently bought and sold shares of the stock. Gilbert & Cook Inc. raised its position in shares of Gartner by 10.6% in the 4th quarter. Gilbert & Cook Inc. now owns 1,430 shares of the information technology services provider’s stock worth $645,000 after buying an additional 137 shares during the period. D.A. Davidson & CO. lifted its stake in shares of Gartner by 19.6% in the 4th quarter. D.A. Davidson & CO. now owns 1,068 shares of the information technology services provider’s stock valued at $482,000 after purchasing an additional 175 shares in the last quarter. US Bancorp DE grew its holdings in shares of Gartner by 5.4% during the 4th quarter. US Bancorp DE now owns 5,090 shares of the information technology services provider’s stock worth $2,296,000 after purchasing an additional 260 shares during the period. TD Asset Management Inc increased its position in Gartner by 4.8% during the 4th quarter. TD Asset Management Inc now owns 53,059 shares of the information technology services provider’s stock worth $23,935,000 after purchasing an additional 2,419 shares in the last quarter. Finally, Stifel Financial Corp raised its holdings in Gartner by 13.6% in the fourth quarter. Stifel Financial Corp now owns 38,424 shares of the information technology services provider’s stock valued at $17,334,000 after buying an additional 4,607 shares during the period. Hedge funds and other institutional investors own 91.51% 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.