Gartner (NYSE:IT) Sets New 12-Month High at $517.98

Gartner, Inc. (NYSE:IT)’s share price hit a new 52-week high on Thursday . The company traded as high as $517.98 and last traded at $516.32, with a volume of 8593 shares. The stock had previously closed at $511.08.

Analyst Ratings Changes

IT has been the topic of several research reports. UBS Group boosted their price objective on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Bank of America increased their price objective 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. BMO Capital Markets boosted their target price on shares of Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Robert W. Baird raised their price target on shares of Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company raised shares of Gartner to a “strong sell” rating in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $521.00.

Gartner Price Performance

The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 3.80. The company’s 50-day moving average price is $486.21 and its two-hundred day moving average price is $463.12. The company has a market cap of $40.04 billion, a P/E ratio of 50.85, a P/E/G ratio of 3.21 and a beta of 1.32.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, topping the consensus estimate of $3.02 by $0.20. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.58 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.85 EPS. As a group, sell-side analysts expect that Gartner, Inc. will post 11.65 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Alwyn Dawkins sold 1,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $505.49, for a total transaction of $505,490.00. Following the completion of the sale, the executive vice president now owns 56,650 shares of the company’s stock, valued at approximately $28,636,008.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Gartner news, CEO Eugene A. Hall sold 34,060 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $505.40, for a total value of $17,213,924.00. Following the sale, the chief executive officer now directly owns 1,143,401 shares in the company, valued at $577,874,865.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alwyn Dawkins sold 1,000 shares of Gartner stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $505.49, for a total transaction 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 65,164 shares of company stock valued at $32,601,014. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Gartner

Large investors have recently made changes to their positions in the company. Central Pacific Bank Trust Division bought a new stake in shares of Gartner during the 1st quarter worth about $36,000. Crewe Advisors LLC increased its position in shares of Gartner by 223.3% during the 2nd quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after purchasing an additional 67 shares during the period. J.Safra Asset Management Corp raised its stake in shares of Gartner by 58.7% in the 1st quarter. J.Safra Asset Management Corp now owns 146 shares of the information technology services provider’s stock worth $70,000 after buying an additional 54 shares in the last quarter. Rothschild Investment LLC acquired a new stake in shares of Gartner in the second quarter valued at $94,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Gartner by 16.0% during the first quarter. EverSource Wealth Advisors LLC now owns 275 shares of the information technology services provider’s stock valued at $131,000 after buying an additional 38 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Company Profile

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.