Wells Fargo & Company Increases Gartner (NYSE:IT) Price Target to $460.00

Gartner (NYSE:IT) had its target price increased by stock analysts at Wells Fargo & Company from $435.00 to $460.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “underweight” rating on the information technology services provider’s stock. Wells Fargo & Company‘s target price suggests a potential downside of 13.21% from the company’s current price.

IT has been the subject of a number of other reports. UBS Group lifted their price target on shares of Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. BMO Capital Markets raised 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 upped their price objective 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. Finally, Bank of America raised their target price on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Gartner presently has an average rating of “Hold” and an average price target of $532.86.

Gartner Stock Performance

Shares of NYSE IT opened at $530.04 on Monday. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $41.15 billion, a price-to-earnings ratio of 52.74, a P/E/G ratio of 3.23 and a beta of 1.32. The stock’s fifty day moving average price is $496.73 and its two-hundred day moving average price is $466.48. Gartner has a one year low of $323.61 and a one year high of $534.80.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, beating the consensus estimate of $3.02 by $0.20. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the company posted $2.85 earnings per share. Gartner’s revenue was up 6.1% compared to the same quarter last year. On average, equities analysts forecast that Gartner will post 11.65 EPS for the current year.

Insider Buying and Selling

In related news, EVP Alwyn Dawkins sold 1,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $505.49, for a total transaction of $505,490.00. Following the sale, the executive vice president now owns 56,650 shares of the company’s stock, valued at $28,636,008.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Gartner news, EVP Alwyn Dawkins sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $505.49, for a total transaction of $505,490.00. Following the sale, the executive vice president now directly owns 56,650 shares of the company’s stock, valued at $28,636,008.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Claire Herkes sold 478 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $506.01, for a total transaction of $241,872.78. Following the completion of the transaction, the executive vice president now owns 1,905 shares of the company’s stock, valued at approximately $963,949.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,164 shares of company stock worth $32,601,014 in the last three months. 3.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Central Pacific Bank Trust Division bought a new stake in shares of Gartner in the 1st quarter valued at $36,000. Crewe Advisors LLC boosted its position in Gartner by 223.3% during the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after acquiring an additional 67 shares during the last quarter. J.Safra Asset Management Corp grew its holdings in Gartner by 58.7% during the 1st quarter. J.Safra Asset Management Corp now owns 146 shares of the information technology services provider’s stock worth $70,000 after acquiring an additional 54 shares during the period. Asset Dedication LLC raised its position in shares of Gartner by 46.5% in the 3rd quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock worth $75,000 after acquiring an additional 47 shares in the last quarter. Finally, Rothschild Investment LLC bought a new position in shares of Gartner in the 2nd quarter worth about $94,000. 91.51% of the stock is owned by institutional investors and hedge funds.

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.