Gartner (NYSE:IT) Shares Gap Up – Here’s What Happened

by · The Markets Daily

Gartner, Inc. (NYSE:IT – Get Free Report) shares gapped up before the market opened on Thursday. The stock had previously closed at $186.54, but opened at $196.19. Gartner shares last traded at $199.78, with a volume of 101,028 shares traded.

Analyst Upgrades and Downgrades

Several research firms recently commented on IT. The Goldman Sachs Group upped their price target on shares of Gartner from $162.00 to $181.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Wells Fargo & Company lifted their price objective on shares of Gartner from $120.00 to $150.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 5th. Weiss Ratings raised shares of Gartner from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, August 13th. Morgan Stanley set a $177.00 target price on shares of Gartner in a research report on Wednesday, August 5th. Finally, Truist Financial set a $205.00 target price on shares of Gartner in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $187.30.

Get Our Latest Stock Analysis on IT

Gartner Stock Up 3.8%

The company has a market cap of $12.23 billion, a P/E ratio of 17.34, a PEG ratio of 0.70 and a beta of 0.96. The stock has a 50-day moving average of $181.11 and a 200 day moving average of $160.51. The company has a debt-to-equity ratio of 46.98, a current ratio of 0.88 and a quick ratio of 0.88.

Gartner (NYSE:IT – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The information technology services provider reported $4.37 earnings per share for the quarter, topping the consensus estimate of $3.76 by $0.61. The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Gartner had a net margin of 11.99% and a return on equity of 525.46%. Gartner’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.53 earnings per share. Gartner has set its FY 2026 guidance at 14.000- EPS. Research analysts anticipate that Gartner, Inc. will post 14.39 earnings per share for the current year.

Insider Activity

In related news, EVP Akhil Jain sold 700 shares of Gartner stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $201.73, for a total value of $141,211.00. Following the transaction, the executive vice president directly owned 8,130 shares of the company’s stock, valued at $1,640,064.90. This trade represents a 7.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Anne Fuchs sold 860 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $184.30, for a total transaction of $158,498.00. Following the transaction, the director owned 8,097 shares of the company’s stock, valued at approximately $1,492,277.10. This represents a 9.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 6,043 shares of company stock valued at $1,172,858 over the last quarter. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Gartner

A number of large investors have recently modified their holdings of the business. Bamco Inc. NY bought a new stake in shares of Gartner during the 2nd quarter valued at approximately $985,243,000. BlackRock Inc. acquired a new stake in Gartner in the second quarter valued at $676,246,000. J. Stern & Co. LLP raised its position in shares of Gartner by 8,182.0% during the fourth quarter. J. Stern & Co. LLP now owns 1,536,890 shares of the information technology services provider’s stock worth $387,727,000 after acquiring an additional 1,518,333 shares during the last quarter. Norges Bank bought a new position in Gartner during the 4th quarter worth approximately $299,576,000. Finally, Bank of America Corp DE bought a new stake in shares of Gartner in the 2nd quarter valued at $117,661,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Company Profile

(Get Free Report)

Gartner, Inc is a global research and advisory firm that provides business leaders with insights, analysis and guidance on technology, digital transformation and related business strategies. The company serves organizations across industries, including corporations, government agencies and technology providers.

Gartner’s offerings include subscription-based research, consulting services, benchmarking and measurement tools, executive programs, and conferences and other events. Its research covers areas such as information technology, cybersecurity, cloud computing, artificial intelligence, data and analytics, human resources, finance, supply chains and customer experience.

Founded in 1979 by Gideon Gartner, the company has expanded its operations internationally and serves clients across North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa.

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