Gartner EVP sells over $2.7 million in company stock

In a recent transaction, Scott Hensel, the Executive Vice President of Global Services & Delivery at Gartner Inc. (NYSE:IT), sold 5,580 shares of the company's common stock at a price of $490.00 per share, resulting in a total sale value of approximately $2.73 million. The sale took place on August 29, 2024, and was made public in a filing with the Securities and Exchange Commission.

Following the transaction, Hensel's direct ownership in Gartner Inc. stands at 19,724 shares. The sale price of $490.00 reflects the value investors were willing to pay for Gartner's stock on the date of the transaction.

Gartner, known for its research and advisory services in the field of information technology, is headquartered in Stamford, Connecticut. The company has a strong presence in the management services sector and is incorporated in Delaware.

Investors often monitor insider sales as they may provide insights into an executive's perspective on the company's current valuation and future prospects. However, it is worth noting that insider transactions can be influenced by a variety of factors and may not necessarily indicate a change in the company's fundamental outlook.

The transaction was signed off by Jenna Gallagher on behalf of Scott Hensel on September 3, 2024. Details of the sale are now accessible to the public, providing transparency into the trading activities of Gartner's executives.

In other recent news, Gartner Inc., a prominent research and advisory company, has reported a margin-driven earnings beat, leading BMO Capital Markets to raise its stock price target from $450 to $510. The company's earnings beat is attributed to lower selling, general, and administrative expenses than anticipated. Gartner also experienced a resurgence in new business and an acceleration in Contract Value (CV) growth, in line with management's earlier forecasts.

In the second quarter of 2024, Gartner announced its EBITDA reached $416 million, marking an 8% increase year-over-year. The company's adjusted earnings per share (EPS) grew by 13% to $3.22. Furthermore, Gartner repurchased $340 million of its stock and updated its full-year guidance, projecting research revenue to be at least $5.105 billion.

Despite challenges in the Tech Vendor and GTS segments, Gartner is expected to focus on sales force recruitment in the latter half of 2024 to meet management's year-end targets. BMO Capital Markets has revised its estimates for Gartner and raised the target price, reflecting the company's recent performance and near-term expectations. These are some of the recent developments that have been making headlines in the company's trajectory.

InvestingPro Insights

As Gartner Inc. (NYSE:IT) continues to navigate the information technology advisory market, recent data from InvestingPro provides a snapshot of the company's financial health and market performance. With a market capitalization of $36.87 billion and a Price/Earnings (P/E) ratio of 45.46, Gartner is trading at a higher earnings multiple than some of its peers. This indicates that investors are expecting higher earnings growth from the company in the future. The P/E ratio has slightly adjusted to 44.4 over the last twelve months as of Q2 2024, suggesting a consistent valuation by the market.

InvestingPro Tips highlight that Gartner's stock has been trading with low price volatility, which might appeal to investors looking for stable returns. Additionally, the company's stock is trading near its 52-week high, with the price at 94.6% of this peak, reflecting a strong market confidence in the company's performance. This aligns with the impressive one-year price total return of 40.54%, showcasing the robust growth the stock has experienced over the past year.

For investors seeking more in-depth analysis, InvestingPro offers additional tips on Gartner Inc., which can be found at https://www.investing.com/pro/IT. These tips provide further insights into the company’s financial obligations, profitability, and analyst predictions that are crucial for making informed investment decisions. With 15 more InvestingPro Tips available, investors can gain a comprehensive understanding of Gartner's financial nuances and market position.

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