Gartner Inc (NYSE:IT) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 2,766,300 shares, a drop of 12.2% from the July 31st total of 3,150,500 shares. Currently, 3.2% of the company’s shares are sold short. Based on an average daily trading volume, of 433,400 shares, the short-interest ratio is presently 6.4 days.
Several equities analysts have recently weighed in on IT shares. BMO Capital Markets cut their price objective on Gartner to $142.00 and set a “market perform” rating on the stock in a report on Wednesday, July 31st. ValuEngine upgraded Gartner from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Finally, Morgan Stanley cut their price objective on Gartner from $156.00 to $155.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $151.67.
In other news, EVP Alwyn Dawkins sold 771 shares of Gartner stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $129.52, for a total transaction of $99,859.92. Following the transaction, the executive vice president now owns 34,235 shares in the company, valued at approximately $4,434,117.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anne Sutherland Fuchs sold 1,828 shares of Gartner stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $136.75, for a total value of $249,979.00. Following the transaction, the director now owns 27,237 shares in the company, valued at approximately $3,724,659.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,499 shares of company stock worth $601,805. Company insiders own 4.00% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Avestar Capital LLC raised its position in Gartner by 1,036.8% in the 1st quarter. Avestar Capital LLC now owns 216 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 197 shares during the last quarter. Ibex Wealth Advisors acquired a new stake in Gartner in the 2nd quarter valued at approximately $40,000. CSat Investment Advisory L.P. raised its position in Gartner by 114.8% in the 2nd quarter. CSat Investment Advisory L.P. now owns 348 shares of the information technology services provider’s stock valued at $56,000 after buying an additional 186 shares during the last quarter. FTB Advisors Inc. acquired a new stake in Gartner in the 2nd quarter valued at approximately $60,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Gartner in the 2nd quarter valued at approximately $76,000. 95.98% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:IT traded up $1.92 during trading on Thursday, hitting $138.69. 42,344 shares of the company’s stock traded hands, compared to its average volume of 472,725. The company has a 50-day moving average price of $136.98 and a 200-day moving average price of $150.87. Gartner has a 52 week low of $120.89 and a 52 week high of $171.77. The company has a market cap of $12.34 billion, a price-to-earnings ratio of 36.59, a price-to-earnings-growth ratio of 2.99 and a beta of 1.23. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 2.93.
Gartner (NYSE:IT) last announced its earnings results on Tuesday, July 30th. The information technology services provider reported $1.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.27. Gartner had a return on equity of 41.29% and a net margin of 5.43%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the firm earned $1.03 EPS. Gartner’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, analysts predict that Gartner will post 3.51 earnings per share for the current fiscal year.
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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