David K. Mcveigh Sells 2,516 Shares of Gartner Inc (NYSE:IT) Stock

Gartner Inc (NYSE:IT) EVP David K. Mcveigh sold 2,516 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $157.33, for a total value of $395,842.28. Following the transaction, the executive vice president now owns 8,942 shares of the company’s stock, valued at $1,406,844.86. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

IT traded up $0.08 during trading hours on Friday, hitting $160.08. 469 shares of the stock were exchanged, compared to its average volume of 507,339. The stock has a 50-day simple moving average of $145.61 and a 200-day simple moving average of $149.66. Gartner Inc has a 12 month low of $120.89 and a 12 month high of $171.77. The stock has a market cap of $14.49 billion, a price-to-earnings ratio of 42.27, a price-to-earnings-growth ratio of 3.48 and a beta of 1.23. The company has a debt-to-equity ratio of 3.08, a current ratio of 0.68 and a quick ratio of 0.68.

Gartner (NYSE:IT) last announced its quarterly earnings data on Thursday, October 31st. The information technology services provider reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.27. Gartner had a return on equity of 40.06% and a net margin of 6.04%. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $992.84 million. During the same period last year, the business posted $0.85 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. Sell-side analysts expect that Gartner Inc will post 3.55 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. UBS Asset Management Americas Inc. lifted its stake in Gartner by 3.7% during the second quarter. UBS Asset Management Americas Inc. now owns 318,887 shares of the information technology services provider’s stock worth $51,322,000 after purchasing an additional 11,466 shares during the last quarter. Institute for Wealth Management LLC. lifted its stake in Gartner by 16.2% during the second quarter. Institute for Wealth Management LLC. now owns 1,597 shares of the information technology services provider’s stock worth $257,000 after purchasing an additional 223 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Gartner by 1.3% during the second quarter. State Board of Administration of Florida Retirement System now owns 123,533 shares of the information technology services provider’s stock worth $19,881,000 after purchasing an additional 1,620 shares during the last quarter. Cambridge Trust Co. bought a new position in Gartner during the second quarter worth $233,000. Finally, Norris Perne & French LLP MI lifted its stake in Gartner by 0.4% during the second quarter. Norris Perne & French LLP MI now owns 60,108 shares of the information technology services provider’s stock worth $9,674,000 after purchasing an additional 257 shares during the last quarter. Hedge funds and other institutional investors own 95.83% of the company’s stock.

IT has been the subject of several research analyst reports. TheStreet cut Gartner from a “b” rating to a “c+” rating in a research note on Thursday, October 31st. Morgan Stanley reduced their target price on Gartner from $156.00 to $155.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. Bank of America increased their target price on Gartner from $150.00 to $172.00 and gave the company a “buy” rating in a research note on Monday. BMO Capital Markets reduced their target price on Gartner to $142.00 and set a “market perform” rating for the company in a research note on Wednesday, July 31st. Finally, ValuEngine upgraded Gartner from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $155.40.

About Gartner

Gartner, Inc operates as a research and advisory company. It operates through three segments: Research, Conferences, and Consulting. The Research segment offers objective insights and advice on the priorities of various leaders in a range of functional areas of the enterprise through research and other reports, briefings, proprietary tools, access to analysts, peer networking services, and membership programs that enable clients to make better decisions; and practice and talent management research insights in various business functions, such as human resources, sales, legal, and finance.

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