Gartner, Inc. (NYSE:IT) Receives $552.63 Consensus Price Target from Brokerages

Shares of Gartner, Inc. (NYSE:IT) have earned an average rating of “Hold” from the nine analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $552.63.

A number of brokerages have recently commented on IT. Morgan Stanley dropped their price target on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $525.00 to $600.00 in a report on Friday, January 10th. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, March 5th. Wells Fargo & Company lowered their price target on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research report on Friday, January 10th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a report on Tuesday, February 4th.

Insider Buying and Selling

In other Gartner news, Director Eileen Serra sold 1,200 shares of Gartner stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the sale, the director now owns 1,627 shares of the company’s stock, valued at $796,855.79. The trade was a 42.45 % 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, SVP John J. Rinello sold 90 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the transaction, the senior vice president now owns 3,259 shares in the company, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.60% of the stock is owned by company insiders.

Institutional Trading of Gartner

A number of hedge funds have recently bought and sold shares of the company. Czech National Bank raised its stake in shares of Gartner by 6.5% during the fourth quarter. Czech National Bank now owns 16,725 shares of the information technology services provider’s stock worth $8,103,000 after acquiring an additional 1,028 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Gartner by 70.0% during the 3rd quarter. Assetmark Inc. now owns 5,144 shares of the information technology services provider’s stock valued at $2,607,000 after purchasing an additional 2,118 shares during the last quarter. Entropy Technologies LP purchased a new position in Gartner in the 4th quarter worth $366,000. D.A. Davidson & CO. raised its position in Gartner by 2.6% in the 4th quarter. D.A. Davidson & CO. now owns 1,137 shares of the information technology services provider’s stock worth $551,000 after purchasing an additional 29 shares during the period. Finally, ING Groep NV lifted its stake in Gartner by 38.4% in the third quarter. ING Groep NV now owns 10,306 shares of the information technology services provider’s stock worth $5,223,000 after purchasing an additional 2,860 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Gartner Stock Performance

NYSE IT opened at $451.83 on Friday. The company has a market capitalization of $34.71 billion, a PE ratio of 28.19, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. Gartner has a 52-week low of $411.15 and a 52-week high of $584.01. The company has a 50-day simple moving average of $508.71 and a 200 day simple moving average of $509.85.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the business posted $3.04 EPS. Gartner’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, research analysts predict that Gartner will post 12.5 EPS for the current year.

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.