Claire Herkes, the Executive Vice President of Conferences at Gartner Inc. (NYSE:), has sold a total of 1,460 shares of the company’s common stock on March 14, 2024, for an aggregate sale price of over $694,000. The transaction was executed in multiple trades with prices ranging from $475.48 to $476.20, with the reported price reflecting the weighted average sale price of $475.76 per share.
Following the sale, Herkes’s ownership in Gartner Inc. stands at 2,842 shares of common stock. The sale was disclosed in a regulatory filing with the Securities and Exchange Commission. As per the filing, Herkes has committed to providing full information regarding the number of shares and the prices at which the transactions were effected upon request.
Gartner Inc., headquartered in Stamford, Connecticut, is a leading research and advisory company providing insights, advice, and tools for various industries. The company’s stock is publicly traded under the ticker symbol NYSE:IT.
Investors often monitor the buying and selling activities of a company’s executives as it may provide insights into their perspective on the company’s current valuation and future prospects. The sale by a high-ranking executive such as Herkes is routinely disclosed to maintain transparency with the market and ensure compliance with securities regulations.
InvestingPro Insights
As Gartner Inc. (NYSE:IT) makes headlines with the recent sale of shares by Executive Vice President Claire Herkes, investors are taking a closer look at the company’s financial health and market performance. Gartner’s market capitalization stands robust at $37.03 billion, reflecting its significant presence in the research and advisory sector. Despite a moderate revenue growth of 7.87% over the last twelve months as of Q1 2023, the company’s high Price to Earnings (P/E) ratio of 42.63 indicates that it is trading at a premium relative to its earnings.
An InvestingPro Tip suggests that Gartner is trading at a high P/E ratio relative to near-term earnings growth. This could signal that investors are expecting higher future growth or that the stock might be overvalued. Additionally, with a Price to Book (P/B) ratio of 54.4 as of the last twelve months, the company’s stock is also trading at a significant premium relative to its book value, which may be of interest to investors looking at asset valuation metrics.
Another key metric is the company’s performance over the last year, with a substantial price total return of 55.7%. This strong return could appeal to growth-focused investors, although it’s worth noting that 7 analysts have revised their earnings downwards for the upcoming period, which may temper expectations.
For those looking to delve deeper into Gartner’s financials and stock performance, InvestingPro offers additional insights. Subscribers can access a wealth of analytics, including more InvestingPro Tips to inform their investment decisions. Currently, there are 16 additional tips available for Gartner Inc. at InvestingPro. Interested readers can take advantage of a special offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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