Gartner (NYSE:IT) Price Target Raised to $470.00 at Wells Fargo & Company

by · The Markets Daily

Gartner (NYSE:IT – Free Report) had its price objective lifted by Wells Fargo & Company from $460.00 to $470.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an underweight rating on the information technology services provider’s stock.

A number of other research firms have also weighed in on IT. BMO Capital Markets upped their target price on Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. Bank of America increased their price objective on Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Robert W. Baird increased their price objective on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, UBS Group increased their price objective on Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $539.25.

Get Our Latest Analysis on Gartner

Gartner Trading Up 0.5 %

Shares of IT traded up $2.51 during mid-day trading on Wednesday, reaching $539.41. 45,316 shares of the company’s stock traded hands, compared to its average volume of 367,282. The stock has a market cap of $41.57 billion, a P/E ratio of 51.13, a P/E/G ratio of 3.14 and a beta of 1.32. The stock’s 50-day moving average is $510.44 and its two-hundred day moving average is $473.06. Gartner has a 12 month low of $396.60 and a 12 month high of $542.13. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.90.

Gartner (NYSE:IT – Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.05. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the firm earned $2.56 earnings per share. Gartner’s revenue was up 5.4% compared to the same quarter last year. Research analysts forecast that Gartner will post 11.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Gartner

In other news, EVP Claire Herkes sold 478 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $506.01, for a total transaction of $241,872.78. Following the sale, the executive vice president now owns 1,905 shares of the company’s stock, valued at approximately $963,949.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Gartner news, EVP Claire Herkes sold 478 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $506.01, for a total value of $241,872.78. Following the transaction, the executive vice president now directly owns 1,905 shares in the company, valued at $963,949.05. 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 this hyperlink. Also, CEO Eugene A. Hall sold 34,060 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the completion of the transaction, the chief executive officer now owns 1,143,401 shares in the company, valued at $577,874,865.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,899 shares of company stock valued at $24,959,886 over the last 90 days. 3.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Gartner

Several large investors have recently modified their holdings of IT. Eastern Bank acquired a new stake in shares of Gartner during the third quarter worth $26,000. Central Pacific Bank Trust Division acquired a new stake in shares of Gartner during the first quarter worth $36,000. Crewe Advisors LLC lifted its holdings in shares of Gartner by 223.3% during the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock worth $44,000 after purchasing an additional 67 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of Gartner during the third quarter worth $44,000. Finally, Fortitude Family Office LLC lifted its holdings in Gartner by 23.8% in the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after acquiring an additional 20 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Gartner Company Profile

(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.

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