Gartner, Inc. (NYSE:IT) Receives $521.00 Average Target Price from Brokerages

Shares of Gartner, Inc. (NYSE:IT) have been given an average recommendation of “Hold” by the seven analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $521.00.

Several research firms have recently commented on IT. Wells Fargo & Company raised shares of Gartner to a “strong sell” rating in a report on Tuesday, August 13th. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. BMO Capital Markets increased their price target on Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Morgan Stanley boosted their price objective on Gartner from $440.00 to $470.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. Finally, Bank of America increased their target price on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st.

Insider Activity

In other news, EVP Alwyn Dawkins sold 1,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $505.49, for a total value of $505,490.00. Following the completion of the transaction, the executive vice president now directly owns 56,650 shares in the company, valued at $28,636,008.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Alwyn Dawkins sold 1,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $505.49, for a total value of $505,490.00. Following the completion of the sale, the executive vice president now owns 56,650 shares in the company, valued at $28,636,008.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James C. Smith sold 2,128 shares of Gartner stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $500.15, for a total value of $1,064,319.20. Following the transaction, the director now directly owns 572,090 shares in the company, valued at $286,130,813.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,626 shares of company stock valued at $15,145,217. Company insiders own 3.60% of the company’s stock.

Institutional Trading of Gartner

Several institutional investors and hedge funds have recently added to or reduced their stakes in IT. Vanguard Group Inc. grew its position in Gartner by 0.7% in the first quarter. Vanguard Group Inc. now owns 8,974,760 shares of the information technology services provider’s stock worth $4,277,999,000 after buying an additional 60,786 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Gartner by 22.0% during the 2nd quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock worth $852,014,000 after acquiring an additional 341,911 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Gartner by 12.0% in the 4th quarter. Wellington Management Group LLP now owns 1,852,820 shares of the information technology services provider’s stock worth $835,826,000 after acquiring an additional 198,274 shares during the last quarter. Brown Advisory Inc. raised its position in shares of Gartner by 4.6% during the fourth quarter. Brown Advisory Inc. now owns 1,208,914 shares of the information technology services provider’s stock worth $545,353,000 after purchasing an additional 52,826 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of Gartner by 18.5% during the fourth quarter. Franklin Resources Inc. now owns 920,716 shares of the information technology services provider’s stock valued at $415,344,000 after purchasing an additional 143,556 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Gartner Stock Up 1.0 %

Shares of Gartner stock opened at $510.56 on Friday. The business has a 50-day moving average price of $477.01 and a 200 day moving average price of $460.65. Gartner has a fifty-two week low of $323.61 and a fifty-two week high of $510.98. The firm has a market cap of $39.34 billion, a P/E ratio of 50.80, a P/E/G ratio of 3.89 and a beta of 1.32. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 3.80.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.02 by $0.20. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.85 EPS. On average, sell-side analysts forecast that Gartner will post 11.59 earnings per share for the current fiscal 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.