Barclays Increases Gartner (NYSE:IT) Price Target to $525.00

Gartner (NYSE:IT) had its price objective hoisted by equities researchers at Barclays from $470.00 to $525.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the information technology services provider’s stock. Barclays‘s target price would suggest a potential downside of 4.34% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley boosted their price target on shares of Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Bank of America upped their target price on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. UBS Group lifted their price target on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. 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 note on Wednesday. Finally, BMO Capital Markets raised their price objective on Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research note 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 issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $539.25.

Gartner Price Performance

NYSE IT traded up $8.06 on Wednesday, reaching $548.81. The company had a trading volume of 85,740 shares, compared to its average volume of 367,010. The stock has a market capitalization of $42.29 billion, a PE ratio of 51.81, a price-to-earnings-growth ratio of 3.14 and a beta of 1.32. Gartner has a 12 month low of $397.43 and a 12 month high of $548.81. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 3.80. The firm’s 50 day moving average price is $511.54 and its 200 day moving average price is $473.53.

Gartner (NYSE:IT) last issued its earnings results 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. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.56 earnings per share. As a group, equities analysts predict that Gartner will post 11.65 earnings per share for the current year.

Insider Buying and Selling at Gartner

In other news, CFO Craig Safian sold 6,310 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $483.57, for a total value of $3,051,326.70. Following the sale, the chief financial officer now directly owns 71,544 shares in the company, valued at approximately $34,596,532.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Akhil Jain sold 400 shares of Gartner stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $485.00, for a total transaction of $194,000.00. Following the completion of the sale, the executive vice president now owns 4,839 shares of the company’s stock, valued at approximately $2,346,915. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Craig Safian sold 6,310 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $483.57, for a total value of $3,051,326.70. Following the completion of the transaction, the chief financial officer now directly owns 71,544 shares in the company, valued at approximately $34,596,532.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,899 shares of company stock worth $24,959,886 over the last 90 days. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Gartner

A number of hedge funds and other institutional investors have recently made changes to their positions in IT. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Gartner in the 3rd quarter worth approximately $36,789,000. W.G. Shaheen & Associates DBA Whitney & Co purchased a new stake in Gartner during the third quarter worth $224,000. Baron Wealth Management LLC boosted its position in Gartner by 4.1% during the 3rd quarter. Baron Wealth Management LLC now owns 481 shares of the information technology services provider’s stock valued at $244,000 after acquiring an additional 19 shares in the last quarter. Meeder Advisory Services Inc. increased its holdings in shares of Gartner by 10.7% in the 3rd quarter. Meeder Advisory Services Inc. now owns 1,940 shares of the information technology services provider’s stock valued at $983,000 after acquiring an additional 188 shares during the period. Finally, AMG National Trust Bank bought a new position in shares of Gartner in the 3rd quarter worth $207,000. Institutional investors own 91.51% of the company’s stock.

About Gartner

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.