Gartner Target of Unusually Large Options Trading (IT)

Gartner Inc (NYSE:IT) was the target of some unusual options trading activity on Monday. Investors purchased 1,501 put options on the stock. This represents an increase of approximately 1,386% compared to the average volume of 101 put options.

Gartner opened at $132.97 on Tuesday, according to Marketbeat.com. The stock has a market cap of $12.31 billion, a P/E ratio of 40.17, a price-to-earnings-growth ratio of 2.33 and a beta of 1.16. Gartner has a twelve month low of $111.57 and a twelve month high of $142.16. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 2.21.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, May 8th. The information technology services provider reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Gartner had a negative net margin of 1.45% and a positive return on equity of 33.99%. The firm had revenue of $964.00 million for the quarter, compared to analyst estimates of $921.22 million. During the same period in the previous year, the business posted $0.60 earnings per share. Gartner’s quarterly revenue was up 54.2% on a year-over-year basis. equities analysts predict that Gartner will post 3.74 EPS for the current year.

A number of equities analysts recently weighed in on IT shares. TheStreet lowered shares of Gartner from a “b” rating to a “c+” rating in a research report on Wednesday, February 28th. Zacks Investment Research upgraded shares of Gartner from a “sell” rating to a “hold” rating in a research report on Tuesday, March 20th. Royal Bank of Canada restated a “buy” rating and set a $139.00 price target on shares of Gartner in a research report on Monday, April 9th. They noted that the move was a valuation call. Morgan Stanley boosted their price target on shares of Gartner from $127.00 to $133.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 9th. Finally, Cantor Fitzgerald boosted their price target on shares of Gartner to $148.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 9th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $141.40.

In other news, EVP Robin B. Kranich sold 4,874 shares of Gartner stock in a transaction dated Friday, May 11th. The shares were sold at an average price of $134.89, for a total value of $657,453.86. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Alwyn Dawkins sold 1,500 shares of Gartner stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $135.32, for a total transaction of $202,980.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,352 shares of company stock worth $1,943,685. Company insiders own 4.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of IT. Polen Capital Management LLC raised its stake in Gartner by 30.5% during the first quarter. Polen Capital Management LLC now owns 5,393,527 shares of the information technology services provider’s stock worth $634,387,000 after purchasing an additional 1,261,318 shares during the period. JPMorgan Chase & Co. raised its stake in Gartner by 114.6% during the first quarter. JPMorgan Chase & Co. now owns 1,713,982 shares of the information technology services provider’s stock worth $201,598,000 after purchasing an additional 915,229 shares during the period. Principal Financial Group Inc. raised its stake in Gartner by 22.6% during the first quarter. Principal Financial Group Inc. now owns 3,589,077 shares of the information technology services provider’s stock worth $422,148,000 after purchasing an additional 662,107 shares during the period. Summit Trail Advisors LLC raised its stake in Gartner by 11,530.3% during the first quarter. Summit Trail Advisors LLC now owns 453,467 shares of the information technology services provider’s stock worth $453,000 after purchasing an additional 449,568 shares during the period. Finally, Wells Fargo & Company MN raised its stake in Gartner by 28.7% during the first quarter. Wells Fargo & Company MN now owns 1,484,145 shares of the information technology services provider’s stock worth $174,566,000 after purchasing an additional 330,798 shares during the period. 96.80% of the stock is currently owned by institutional investors.

About Gartner

Gartner, Inc operates as a research and advisory company. It operates through four segments: Research, Consulting, Events, and Talent Assessment & Other. 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 our 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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