Gartner (NYSE:IT) Sets New 52-Week High at $517.48

Shares of Gartner, Inc. (NYSE:IT) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $517.48 and last traded at $514.76, with a volume of 4304 shares changing hands. The stock had previously closed at $506.49.

Analyst Upgrades and Downgrades

IT has been the subject of a number of recent research reports. Wells Fargo & Company upgraded shares of Gartner to a “strong sell” rating in a research note on Tuesday, August 13th. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Bank of America increased their target price on shares of Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. UBS Group increased their target price on shares of Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, BMO Capital Markets increased their target price on shares of Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Gartner currently has a consensus rating of “Hold” and a consensus price target of $521.00.

Gartner Trading Up 1.2 %

The business’s fifty day simple moving average is $480.57 and its 200 day simple moving average is $461.49. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 3.80. The stock has a market cap of $39.79 billion, a P/E ratio of 50.40, a price-to-earnings-growth ratio of 3.89 and a beta of 1.32.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.20. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the firm earned $2.85 EPS. The company’s revenue was up 6.1% on a year-over-year basis. As a group, analysts expect that Gartner, Inc. will post 11.59 EPS for the current year.

Insider Activity

In other news, Director Karen E. Dykstra sold 1,683 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $465.55, for a total value of $783,520.65. Following the transaction, the director now owns 19,825 shares of the company’s stock, valued at approximately $9,229,528.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Akhil Jain sold 400 shares of Gartner stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $485.00, for a total transaction of $194,000.00. Following the transaction, the executive vice president now owns 4,839 shares of the company’s stock, valued at approximately $2,346,915. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Karen E. Dykstra sold 1,683 shares of Gartner stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $465.55, for a total transaction of $783,520.65. Following the transaction, the director now directly owns 19,825 shares in the company, valued at approximately $9,229,528.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,164 shares of company stock valued at $32,601,014. 3.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sustainable Growth Advisers LP acquired a new stake in Gartner during the 2nd quarter worth approximately $266,541,000. First Trust Advisors LP raised its holdings in Gartner by 830.4% during the 4th quarter. First Trust Advisors LP now owns 514,230 shares of the information technology services provider’s stock worth $231,974,000 after buying an additional 458,963 shares during the period. Principal Financial Group Inc. raised its holdings in Gartner by 22.0% during the 2nd quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock worth $852,014,000 after buying an additional 341,911 shares during the period. Wellington Management Group LLP raised its holdings in Gartner by 12.0% during the 4th quarter. Wellington Management Group LLP now owns 1,852,820 shares of the information technology services provider’s stock worth $835,826,000 after buying an additional 198,274 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Gartner by 38.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 414,559 shares of the information technology services provider’s stock worth $197,608,000 after buying an additional 114,610 shares during the period. 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.