Gartner, Inc. (NYSE:IT) SVP John J. Rinello Sells 90 Shares of Stock

Gartner, Inc. (NYSE:IT) SVP John J. Rinello sold 90 shares of Gartner stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the transaction, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Gartner Trading Down 1.6 %

Shares of NYSE:IT opened at $514.02 on Thursday. The stock’s 50-day simple moving average is $510.12 and its two-hundred day simple moving average is $507.95. The stock has a market capitalization of $39.65 billion, a price-to-earnings ratio of 32.07, a PEG ratio of 3.50 and a beta of 1.34. Gartner, Inc. has a 52-week low of $411.15 and a 52-week high of $584.01. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 136.32%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter last year, the firm posted $3.04 earnings per share. The firm’s revenue was up 8.1% compared to the same quarter last year. Analysts expect that Gartner, Inc. will post 12.5 EPS for the current year.

Analysts Set New Price Targets

IT has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price objective on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft upped their price target on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $525.00 to $600.00 in a report on Friday, January 10th. Robert W. Baird boosted their target price on Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. Finally, Wells Fargo & Company dropped their price target on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $552.63.

Institutional Investors Weigh In On Gartner

A number of hedge funds have recently modified their holdings of IT. Eastern Bank bought a new position in shares of Gartner during the 3rd quarter valued at approximately $26,000. Kestra Investment Management LLC purchased a new position in Gartner during the fourth quarter valued at approximately $29,000. Ashton Thomas Securities LLC bought a new position in shares of Gartner in the third quarter worth approximately $44,000. SBI Securities Co. Ltd. purchased a new stake in shares of Gartner in the fourth quarter worth $49,000. Finally, True Wealth Design LLC increased its stake in shares of Gartner by 2,350.0% in the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after purchasing an additional 94 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

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.