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John J. Rinello, Senior Vice President of Global Business Sales at Gartner Inc. (NYSE:IT), recently sold 90 shares of the company’s common stock, amounting to approximately $47,745. The shares were sold at an average price of $530.51 each on February 10, 2025. The transaction occurred as Gartner, a prominent player in the IT Services industry with a market capitalization of $39.6 billion, trades near $514 per share. According to InvestingPro analysis, the stock currently appears overvalued relative to its Fair Value.
In addition to the sale, Rinello acquired 311 shares of common stock through the release of Restricted Stock Units (RSUs), which converted on a one-for-one basis. These RSUs were part of a vesting schedule that began in 2022 and represent the 2025 installment. The transaction did not involve any monetary exchange. InvestingPro data shows Gartner maintains a "GOOD" overall financial health score, with notably low price volatility compared to its peers.
Moreover, 91 shares were withheld to cover applicable income and payroll taxes, valued at $528.87 per share, totaling approximately $48,127. Following these transactions, Rinello holds 3,479 shares of Gartner’s common stock directly. The company trades at a P/E ratio of 31.8x and has delivered a 15.8% return over the past year. For deeper insights into insider trading patterns and additional financial metrics, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Gartner Inc. outperformed analyst expectations with its fourth-quarter results. The technology research and consulting firm produced adjusted earnings per share of $5.45, a substantial increase over the projected $3.26. Likewise, revenue was reported at $1.7 billion, slightly surpassing the anticipated $1.69 billion.
Gartner’s contract value, a significant indicator of prospective revenue, saw an 8% year-over-year growth to $5.3 billion. For the full year of 2024, the company reported $6.3 billion in revenue, a 6% annual increase, and adjusted earnings per share of $14.09, a 24% rise from 2023.
The firm’s Research segment, its primary revenue source, experienced a 5% growth in the fourth quarter to $1.31 billion. Meanwhile, the Conferences and Consulting segments posted robust growth of 17% and 19%, respectively. Gartner also generated $311 million in free cash flow during the quarter, a 59% increase from the prior year period, and a 31% rise to $1.38 billion for the full year.
These are recent developments from Gartner, which CEO Gene Hall indicates will continue to accelerate hiring, aiming for sustained, long-term, double-digit growth in 2025.
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