Gartner (NYSE:IT) Price Target Raised to $525.00

by · The Cerbat Gem

Gartner (NYSE:IT – Free Report) had its price target hoisted by Barclays from $470.00 to $525.00 in a research note issued to investors on Wednesday,Benzinga reports. Barclays currently has an equal weight rating on the information technology services provider’s stock.

A number of other research analysts also recently commented on the company. Wells Fargo & Company upped their price objective on Gartner from $435.00 to $460.00 and gave the stock an “underweight” rating in a research note on Monday, October 14th. Bank of America increased their price objective on shares of Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. UBS Group raised their price target on shares of Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Robert W. Baird boosted their price objective on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Gartner has a consensus rating of “Hold” and an average target price of $539.25.

Get Our Latest Stock Analysis on IT

Gartner Stock Performance

IT stock opened at $547.75 on Wednesday. The stock’s 50 day simple moving average is $512.66 and its 200 day simple moving average is $474.26. Gartner has a 12-month low of $397.43 and a 12-month high of $552.33. The firm has a market cap of $42.21 billion, a P/E ratio of 40.39, a P/E/G ratio of 3.27 and a beta of 1.32. The company has a current ratio of 1.02, a quick ratio of 0.90 and a debt-to-equity ratio of 2.31.

Gartner (NYSE:IT – Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.05. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the firm posted $2.56 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, equities research analysts predict that Gartner will post 11.88 EPS for the current year.

Insider Buying and Selling

In other Gartner news, EVP Akhil Jain sold 400 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $485.00, for a total value of $194,000.00. Following the sale, the executive vice president now directly owns 4,839 shares in the company, valued at approximately $2,346,915. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Craig Safian sold 6,310 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $483.57, for a total transaction of $3,051,326.70. Following the completion of the sale, the chief financial officer now directly owns 71,544 shares of the company’s stock, valued at $34,596,532.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Akhil Jain sold 400 shares of Gartner stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $485.00, for a total value of $194,000.00. Following the completion of the transaction, the executive vice president now directly owns 4,839 shares in the company, valued at $2,346,915. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,899 shares of company stock valued at $30,317,486 over the last quarter. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Eastern Bank acquired a new position in shares of Gartner in the 3rd quarter valued at about $26,000. Central Pacific Bank Trust Division purchased a new position in Gartner during the first quarter valued at approximately $36,000. Crewe Advisors LLC increased its stake in Gartner by 223.3% in the 2nd quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after buying an additional 67 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Gartner in the 3rd quarter worth approximately $44,000. Finally, Fortitude Family Office LLC boosted its stake in shares of Gartner by 23.8% during the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after buying an additional 20 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

About Gartner

(Get Free Report)

Gartner, Inc operates as a research and advisory company in the United States, Canada, Europe, the Middle East, Africa, and internationally. It operates through three segments: Research, Conferences, and Consulting. The Research segment delivers its research primarily through a subscription service that include on-demand access to published research content, data and benchmarks, and direct access to a network of research experts.

Further Reading