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 stock was sold at an average price of $157.33, for a total transaction of $395,842.28. Following the completion of the transaction, the executive vice president now owns 8,942 shares in the company, valued at $1,406,844.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Shares of IT stock opened at $160.36 on Friday. The company has a market capitalization of $14.49 billion, a price-to-earnings ratio of 42.31, a PEG ratio of 3.48 and a beta of 1.23. Gartner Inc has a one year low of $120.89 and a one year high of $171.77. The company’s fifty day moving average price is $146.03 and its 200-day moving average price is $149.67. 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 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.27. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $992.84 million. Gartner had a net margin of 6.04% and a return on equity of 40.06%. The company’s revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm earned $0.85 EPS. Equities research analysts expect that Gartner Inc will post 3.55 earnings per share for the current fiscal year.

Several research analysts have weighed in on IT shares. Morgan Stanley decreased their price target on shares of Gartner from $156.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 31st. ValuEngine upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Bank of America increased their price target on shares of Gartner from $150.00 to $172.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. BMO Capital Markets decreased their price target on shares of Gartner to $142.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 31st. Finally, TheStreet downgraded shares of Gartner from a “b” rating to a “c+” rating in a research report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Gartner presently has an average rating of “Hold” and an average price target of $155.40.

Several hedge funds have recently made changes to their positions in IT. KAMES CAPITAL plc raised its position in shares of Gartner by 0.4% during the 2nd quarter. KAMES CAPITAL plc now owns 239,957 shares of the information technology services provider’s stock valued at $38,575,000 after purchasing an additional 1,027 shares during the period. Contravisory Investment Management Inc. purchased a new position in Gartner during the second quarter valued at $337,000. Retirement Systems of Alabama grew its stake in Gartner by 0.6% during the second quarter. Retirement Systems of Alabama now owns 42,013 shares of the information technology services provider’s stock valued at $6,762,000 after acquiring an additional 239 shares in the last quarter. Spence Asset Management grew its stake in Gartner by 2.8% during the second quarter. Spence Asset Management now owns 61,748 shares of the information technology services provider’s stock valued at $9,938,000 after acquiring an additional 1,669 shares in the last quarter. Finally, Chicago Capital LLC purchased a new position in Gartner during the second quarter valued at $354,000. Hedge funds and other institutional investors own 95.83% of the company’s stock.

Gartner Company Profile

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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