The Investors Sell Shares of Gartner, Inc. (IT) on Strength (IT)

The Investors Sell Shares of Gartner, Inc. (IT) on Strength (IT)

Investors sold shares of Gartner, Inc. (NYSE:IT) on strength during trading on Wednesday. $19.55 million flowed into the stock on the tick-up and $42.09 million flowed out of the stock on the tick-down, for a money net flow of $22.54 million out of the stock. Of all stocks tracked, Gartner had the 25th highest net out-flow for the day. Gartner traded up $1.05 for the day and closed at $124.07

IT has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of Gartner from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Royal Bank Of Canada reissued a “top pick” rating and set a $142.00 price objective (up previously from $130.00) on shares of Gartner in a research report on Friday, July 21st. Credit Suisse Group reissued an “outperform” rating and set a $138.00 price objective (up previously from $130.00) on shares of Gartner in a research report on Wednesday, August 9th. BidaskClub cut shares of Gartner from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 9th. Finally, TheStreet cut shares of Gartner from a “b” rating to a “c+” rating in a research report on Tuesday, August 8th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $127.67.

The firm has a market cap of $11.24 billion, a price-to-earnings ratio of 254.76 and a beta of 1.07. The firm’s 50-day moving average is $123.64 and its 200 day moving average is $120.69.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, August 8th. The information technology services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.83 by $0.05. Gartner had a net margin of 1.50% and a return on equity of 103.10%. The business had revenue of $843.73 million for the quarter, compared to analyst estimates of $892.64 million. During the same quarter in the previous year, the firm posted $0.75 earnings per share. Gartner’s quarterly revenue was up 38.3% on a year-over-year basis. Equities analysts expect that Gartner, Inc. will post $3.41 earnings per share for the current year.

In related news, Director Anne Sutherland Fuchs sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $117.02, for a total transaction of $585,100.00. Following the sale, the director now owns 29,895 shares of the company’s stock, valued at $3,498,312.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Robin B. Kranich sold 7,487 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $120.08, for a total transaction of $899,038.96. Following the sale, the senior vice president now directly owns 21,298 shares in the company, valued at approximately $2,557,463.84. The disclosure for this sale can be found here. Insiders have sold 23,363 shares of company stock worth $2,775,387 in the last three months. 4.30% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of the stock. First Trust Advisors LP lifted its stake in shares of Gartner by 47.2% in the third quarter. First Trust Advisors LP now owns 225,934 shares of the information technology services provider’s stock worth $28,108,000 after buying an additional 72,439 shares in the last quarter. Nationwide Fund Advisors lifted its stake in shares of Gartner by 24.2% in the third quarter. Nationwide Fund Advisors now owns 269,360 shares of the information technology services provider’s stock worth $33,511,000 after buying an additional 52,443 shares in the last quarter. APG Asset Management N.V. lifted its stake in shares of Gartner by 25.3% in the third quarter. APG Asset Management N.V. now owns 54,055 shares of the information technology services provider’s stock worth $6,725,000 after buying an additional 10,900 shares in the last quarter. Oakbrook Investments LLC lifted its stake in shares of Gartner by 16.7% in the third quarter. Oakbrook Investments LLC now owns 7,870 shares of the information technology services provider’s stock worth $979,000 after buying an additional 1,125 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Gartner in the third quarter worth approximately $412,000. 91.90% of the stock is currently owned by institutional investors and hedge funds.

Gartner Company Profile

Gartner, Inc is an information technology research and advisory company. The Company works with clients to research, analyze and interpret the business of information technology (IT), supply chain and marketing within the context of their individual roles. It operates in three segments: Research, Consulting and Events.

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