Gartner (NYSE:IT) Trading 4.9% Higher Following Insider Buying Activity

Gartner, Inc. (NYSE:IT)’s stock price shot up 4.9% during mid-day trading on Monday following insider buying activity. The stock traded as high as $245.38 and last traded at $245.40. 423,366 shares changed hands during trading, a decline of 55% from the average session volume of 950,473 shares. The stock had previously closed at $233.89.

Specifically, Director Stephen G. Pagliuca bought 43,300 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were bought at an average price of $229.57 per share, for a total transaction of $9,940,381.00. Following the purchase, the director owned 111,613 shares in the company, valued at $25,622,996.41. This represents a 63.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

Wall Street Analyst Weigh In

Several brokerages have recently commented on IT. Wells Fargo & Company lowered their price objective on Gartner from $231.00 to $218.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 5th. Royal Bank Of Canada started coverage on Gartner in a research note on Tuesday, September 9th. They set a “sector perform” rating and a $263.00 target price on the stock. Morgan Stanley set a $307.00 price target on Gartner in a research note on Monday, October 13th. Wolfe Research initiated coverage on shares of Gartner in a report on Wednesday, September 3rd. They set a “peer perform” rating for the company. Finally, William Blair reissued an “outperform” rating on shares of Gartner in a report on Tuesday, October 21st. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $311.67.

Gartner Price Performance

The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a fifty day simple moving average of $236.95 and a two-hundred day simple moving average of $290.45. The firm has a market cap of $17.76 billion, a PE ratio of 21.61 and a beta of 1.08.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, November 4th. The information technology services provider reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.35. Gartner had a return on equity of 92.12% and a net margin of 13.71%.The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.52 billion. Gartner has set its FY 2025 guidance at 12.650- EPS. Equities analysts predict that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Institutional Trading of Gartner

A number of large investors have recently made changes to their positions in IT. Sequoia Financial Advisors LLC grew its position in Gartner by 1.8% in the second quarter. Sequoia Financial Advisors LLC now owns 1,725 shares of the information technology services provider’s stock worth $697,000 after acquiring an additional 31 shares in the last quarter. Verdence Capital Advisors LLC boosted its holdings in shares of Gartner by 2.6% in the 2nd quarter. Verdence Capital Advisors LLC now owns 1,333 shares of the information technology services provider’s stock worth $539,000 after purchasing an additional 34 shares during the period. Accurate Wealth Management LLC increased its position in shares of Gartner by 2.8% during the 2nd quarter. Accurate Wealth Management LLC now owns 1,308 shares of the information technology services provider’s stock valued at $507,000 after purchasing an additional 36 shares during the last quarter. EP Wealth Advisors LLC increased its position in shares of Gartner by 5.0% during the 1st quarter. EP Wealth Advisors LLC now owns 800 shares of the information technology services provider’s stock valued at $336,000 after purchasing an additional 38 shares during the last quarter. Finally, Apollon Wealth Management LLC raised its holdings in Gartner by 4.2% during the 2nd quarter. Apollon Wealth Management LLC now owns 965 shares of the information technology services provider’s stock valued at $390,000 after buying an additional 39 shares during the period. 91.51% of the stock is currently 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.