Gartner, Inc. (NYSE:IT) CMO Kenneth Allard Sells 1,345 Shares

Gartner, Inc. (NYSE:ITGet Rating) CMO Kenneth Allard sold 1,345 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $290.55, for a total value of $390,789.75. Following the completion of the transaction, the chief marketing officer now directly owns 3,074 shares in the company, valued at approximately $893,150.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Gartner Trading Up 0.7 %

NYSE IT opened at $295.44 on Friday. The stock has a 50-day simple moving average of $251.55 and a 200 day simple moving average of $271.96. The company has a market capitalization of $23.79 billion, a PE ratio of 33.31 and a beta of 1.45. The company has a current ratio of 0.62, a quick ratio of 0.70 and a debt-to-equity ratio of 20.79. Gartner, Inc. has a 12 month low of $221.39 and a 12 month high of $368.99.

Gartner (NYSE:ITGet Rating) last released its quarterly earnings data on Tuesday, August 2nd. The information technology services provider reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.70. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.32 billion. Gartner had a return on equity of 497.67% and a net margin of 14.42%. The firm’s revenue was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.24 earnings per share. Research analysts forecast that Gartner, Inc. will post 9.15 EPS for the current year.

Gartner announced that its Board of Directors has initiated a stock repurchase program on Tuesday, May 3rd that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the information technology services provider to purchase up to 2.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have commented on IT. Bank of America raised Gartner from a “neutral” rating to a “buy” rating and set a $340.00 price objective on the stock in a research note on Thursday, April 14th. Wells Fargo & Company boosted their price objective on Gartner from $305.00 to $345.00 and gave the stock an “overweight” rating in a research note on Wednesday. BMO Capital Markets cut their price target on Gartner from $315.00 to $265.00 and set a “market perform” rating on the stock in a research note on Tuesday, June 21st. TheStreet lowered Gartner from a “b” rating to a “c+” rating in a research note on Tuesday, May 3rd. Finally, Robert W. Baird upped their price target on Gartner from $334.00 to $365.00 in a research note on Wednesday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $321.67.

Institutional Investors Weigh In On Gartner

Large investors have recently modified their holdings of the business. Lindbrook Capital LLC increased its holdings in shares of Gartner by 168.4% in the second quarter. Lindbrook Capital LLC now owns 102 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 64 shares in the last quarter. Clearstead Advisors LLC bought a new stake in shares of Gartner in the first quarter worth about $27,000. Crewe Advisors LLC bought a new position in shares of Gartner during the second quarter worth about $30,000. Cambridge Trust Co. bought a new position in shares of Gartner during the first quarter worth about $31,000. Finally, JFS Wealth Advisors LLC grew its holdings in shares of Gartner by 588.2% during the first quarter. JFS Wealth Advisors LLC now owns 117 shares of the information technology services provider’s stock worth $35,000 after buying an additional 100 shares in the last quarter. 92.05% of the stock is currently owned by institutional investors.

Gartner Company Profile

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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.

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