Gartner Inc (NYSE:IT) Sees Large Increase in Short Interest

Gartner Inc (NYSE:IT) was the recipient of a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 3,322,900 shares, an increase of 10.5% from the May 30th total of 3,007,200 shares. Approximately 3.8% of the shares of the company are short sold. Based on an average daily volume of 359,600 shares, the short-interest ratio is currently 9.2 days.

Shares of NYSE:IT traded up $0.63 during midday trading on Monday, reaching $170.87. 223,302 shares of the company’s stock were exchanged, compared to its average volume of 459,614. The business has a 50 day moving average price of $159.48. The stock has a market cap of $15.34 billion, a price-to-earnings ratio of 45.08, a PEG ratio of 3.04 and a beta of 1.26. Gartner has a 12 month low of $120.89 and a 12 month high of $171.36. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.67 and a quick ratio of 0.67.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, May 7th. The information technology services provider reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. The business had revenue of $970.00 million during the quarter, compared to analysts’ expectations of $960.72 million. Gartner had a net margin of 4.09% and a return on equity of 37.59%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the company posted $0.72 EPS. As a group, equities research analysts expect that Gartner will post 3.96 EPS for the current year.

In other Gartner news, EVP Alwyn Dawkins sold 700 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $153.50, for a total value of $107,450.00. Following the completion of the sale, the executive vice president now directly owns 35,556 shares of the company’s stock, valued at approximately $5,457,846. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Robin B. Kranich sold 6,366 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $154.27, for a total transaction of $982,082.82. Following the completion of the sale, the executive vice president now directly owns 10,265 shares of the company’s stock, valued at $1,583,581.55. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,610 shares of company stock valued at $2,103,725. Insiders own 4.00% of the company’s stock.

Several institutional investors have recently made changes to their positions in IT. Avestar Capital LLC increased its position in shares of Gartner by 1,036.8% during the 1st quarter. Avestar Capital LLC now owns 216 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 197 shares in the last quarter. Sontag Advisory LLC acquired a new stake in Gartner in the 4th quarter valued at about $47,000. Claybrook Capital LLC acquired a new stake in Gartner in the 4th quarter valued at about $51,000. Smithfield Trust Co. increased its position in Gartner by 80.9% in the 1st quarter. Smithfield Trust Co. now owns 425 shares of the information technology services provider’s stock valued at $64,000 after acquiring an additional 190 shares in the last quarter. Finally, Horizon Investments LLC acquired a new stake in Gartner in the 1st quarter valued at about $208,000. Institutional investors and hedge funds own 99.29% of the company’s stock.

IT has been the subject of a number of research reports. Cantor Fitzgerald reissued a “buy” rating and issued a $107.00 price target on shares of Perrigo in a report on Wednesday, May 8th. Zacks Investment Research downgraded shares of Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a report on Thursday, May 9th. BMO Capital Markets downgraded shares of Capital Power from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a GBX 2,280 ($29.79) price objective on shares of Anglo American in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. Gartner presently has a consensus rating of “Hold” and an average price target of $148.38.

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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