Gartner, Inc. (IT) Short Interest Update

Gartner, Inc. (NYSE:IT) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totalling 2,403,124 shares, a growth of 44.4% from the August 15th total of 1,664,555 shares. Based on an average daily volume of 530,061 shares, the short-interest ratio is currently 4.5 days. Currently, 2.7% of the shares of the stock are short sold.

In other news, Director Anne Sutherland Fuchs sold 5,000 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $118.92, for a total transaction of $594,600.00. Following the completion of the sale, the director now owns 27,395 shares of the company’s stock, valued at $3,257,813.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 of the company’s stock, 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 valued at $2,775,387 in the last three months. Corporate insiders own 4.40% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Creative Planning raised its position in Gartner by 1.2% during the second quarter. Creative Planning now owns 1,950 shares of the information technology services provider’s stock worth $241,000 after acquiring an additional 23 shares during the last quarter. Raymond James Trust N.A. grew its holdings in shares of Gartner by 1.3% during the second quarter. Raymond James Trust N.A. now owns 1,952 shares of the information technology services provider’s stock worth $241,000 after buying an additional 26 shares in the last quarter. Isthmus Partners LLC grew its holdings in shares of Gartner by 0.3% during the first quarter. Isthmus Partners LLC now owns 9,283 shares of the information technology services provider’s stock worth $1,002,000 after buying an additional 32 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in shares of Gartner by 0.6% during the first quarter. Dynamic Technology Lab Private Ltd now owns 6,511 shares of the information technology services provider’s stock worth $704,000 after buying an additional 40 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Gartner by 0.4% during the second quarter. Nisa Investment Advisors LLC now owns 13,047 shares of the information technology services provider’s stock worth $1,611,000 after buying an additional 47 shares in the last quarter. Institutional investors own 91.93% of the company’s stock.

IT has been the subject of several research reports. BidaskClub cut shares of Gartner from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research raised shares of Gartner from a “hold” rating to a “buy” rating and set a $142.00 price objective for the company in a research note on Wednesday, July 19th. TheStreet cut shares of Gartner from a “b” rating to a “c+” rating in a research note on Tuesday, August 8th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $105.00 price objective on shares of Gartner in a research note on Thursday, August 31st. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $132.00 price objective (down previously from $137.00) on shares of Gartner in a research note on Monday, August 14th. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $126.56.

Shares of Gartner (IT) opened at 124.18 on Friday. The stock has a market cap of $11.25 billion, a PE ratio of 254.99 and a beta of 1.04. The stock has a 50 day moving average of $121.55 and a 200 day moving average of $117.93. Gartner has a 1-year low of $84.54 and a 1-year high of $130.02.

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

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About Gartner

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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