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

Gartner, Inc. (NYSE:IT)’s stock price reached 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. The stock had previously closed at $506.49.

Analysts Set New Price Targets

A number of research firms have issued reports on IT. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. BMO Capital Markets lifted their price objective on Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. UBS Group lifted their price objective on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company raised Gartner to a “strong sell” rating in a research note on Tuesday, August 13th. Finally, Bank of America lifted their price objective on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $521.00.

Gartner Trading Up 0.0 %

The stock has a market cap of $39.87 billion, a PE ratio of 51.10, a PEG ratio of 3.89 and a beta of 1.32. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a fifty day moving average price of $483.06 and a 200 day moving average price of $462.16.

Gartner (NYSE:IT) last announced its earnings results 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. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.85 EPS. Equities analysts expect that Gartner, Inc. will post 11.59 EPS for the current year.

Insider Buying and Selling at Gartner

In other Gartner news, CEO Eugene A. Hall sold 12,082 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $504.84, for a total value of $6,099,476.88. Following the transaction, the chief executive officer now owns 1,143,389 shares of the company’s stock, valued at approximately $577,228,502.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Gartner news, Director Karen E. Dykstra sold 1,683 shares of the company’s stock in a transaction on Monday, August 5th. The stock was 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eugene A. Hall sold 12,082 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $504.84, for a total value of $6,099,476.88. Following the completion of the transaction, the chief executive officer now directly owns 1,143,389 shares in the company, valued at approximately $577,228,502.76. The disclosure for this sale can be found here. Insiders have sold 65,164 shares of company stock valued at $32,601,014 in the last quarter. 3.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Gartner

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new position in shares of Gartner during the 2nd quarter worth $3,344,000. New Century Financial Group LLC bought a new position in shares of Gartner during the 2nd quarter worth $260,000. Cetera Investment Advisers grew its position in shares of Gartner by 1.1% during the 2nd quarter. Cetera Investment Advisers now owns 21,679 shares of the information technology services provider’s stock worth $9,735,000 after buying an additional 226 shares in the last quarter. Wallace Advisory Group LLC grew its position in shares of Gartner by 2.4% during the 2nd quarter. Wallace Advisory Group LLC now owns 980 shares of the information technology services provider’s stock worth $440,000 after buying an additional 23 shares in the last quarter. Finally, Copperwynd Financial LLC grew its position in shares of Gartner by 20.4% during the 2nd quarter. Copperwynd Financial LLC now owns 1,773 shares of the information technology services provider’s stock worth $796,000 after buying an additional 301 shares in the last quarter. 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.