Robin B. Kranich Sells 739 Shares of Gartner, Inc. (NYSE:IT) Stock

Gartner, Inc. (NYSE:IT) EVP Robin B. Kranich sold 739 shares of the company’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $436.50, for a total transaction of $322,573.50. Following the completion of the sale, the executive vice president now directly owns 20,464 shares in the company, valued at $8,932,536. This represents a 3.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Gartner Price Performance

Shares of IT opened at $432.12 on Friday. The firm has a market capitalization of $33.19 billion, a price-to-earnings ratio of 26.96, a price-to-earnings-growth ratio of 3.30 and a beta of 1.24. The stock’s fifty day moving average is $423.97 and its 200-day moving average is $482.13. Gartner, Inc. has a one year low of $366.05 and a one year high of $584.01. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.72 by $0.26. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. Gartner’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.93 EPS. Equities analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current year.

Institutional Investors Weigh In On Gartner

Institutional investors have recently added to or reduced their stakes in the company. Czech National Bank lifted its holdings in shares of Gartner by 6.5% in the fourth quarter. Czech National Bank now owns 16,725 shares of the information technology services provider’s stock valued at $8,103,000 after buying an additional 1,028 shares during the period. Entropy Technologies LP acquired a new stake in Gartner in the 4th quarter valued at about $366,000. D.A. Davidson & CO. boosted its position in shares of Gartner by 2.6% during the 4th quarter. D.A. Davidson & CO. now owns 1,137 shares of the information technology services provider’s stock valued at $551,000 after purchasing an additional 29 shares in the last quarter. Conestoga Capital Advisors LLC grew its stake in shares of Gartner by 1.5% in the 4th quarter. Conestoga Capital Advisors LLC now owns 31,626 shares of the information technology services provider’s stock worth $15,322,000 after purchasing an additional 480 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Gartner by 0.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 3,379 shares of the information technology services provider’s stock worth $1,637,000 after purchasing an additional 30 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IT has been the topic of several research reports. Robert W. Baird cut their price objective on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. UBS Group increased their price target on Gartner from $500.00 to $525.00 and gave the stock a “buy” rating in a research report on Wednesday. The Goldman Sachs Group reduced their price objective on Gartner from $622.00 to $535.00 and set a “buy” rating for the company in a research report on Wednesday. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Finally, Morgan Stanley reduced their price target 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $518.67.

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.