Gartner, Inc. (NYSE:IT) Given Average Recommendation of “Hold” by Brokerages

Gartner, Inc. (NYSE:IT) has received a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $539.25.

A number of research analysts recently weighed in on IT shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Robert W. Baird raised their target price on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Wells Fargo & Company boosted their price objective on Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 6th. Morgan Stanley increased their target price on shares of Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Finally, StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th.

Insider Buying and Selling

In other news, CEO Eugene A. Hall sold 34,060 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $505.40, for a total value of $17,213,924.00. Following the completion of the sale, the chief executive officer now owns 1,143,401 shares in the company, valued at approximately $577,874,865.40. The trade was a 2.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Akhil Jain sold 500 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $492.00, for a total transaction of $246,000.00. Following the transaction, the executive vice president now owns 4,339 shares in the company, valued at approximately $2,134,788. This represents a 10.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,149 shares of company stock valued at $37,694,911 over the last quarter. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Gartner

Hedge funds have recently made changes to their positions in the stock. State Street Corp raised its stake in Gartner by 1.1% in the third quarter. State Street Corp now owns 3,257,355 shares of the information technology services provider’s stock valued at $1,650,697,000 after buying an additional 36,258 shares during the last quarter. Geode Capital Management LLC boosted its stake in Gartner by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,018,358 shares of the information technology services provider’s stock worth $1,020,378,000 after purchasing an additional 36,698 shares in the last quarter. Principal Financial Group Inc. grew its position in Gartner by 5.5% during the 3rd quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock worth $1,014,099,000 after purchasing an additional 103,814 shares during the last quarter. Franklin Resources Inc. increased its stake in Gartner by 3.3% during the 3rd quarter. Franklin Resources Inc. now owns 801,589 shares of the information technology services provider’s stock valued at $422,678,000 after purchasing an additional 25,315 shares in the last quarter. Finally, Sustainable Growth Advisers LP purchased a new position in shares of Gartner in the second quarter worth $266,541,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Gartner Stock Performance

Shares of IT opened at $517.93 on Wednesday. Gartner has a one year low of $411.15 and a one year high of $559.00. The firm has a market capitalization of $39.95 billion, a P/E ratio of 38.20, a PEG ratio of 3.24 and a beta of 1.32. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02. The business has a fifty day moving average of $521.01 and a 200 day moving average of $484.28.

Gartner (NYSE:IT) last released its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.05. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. Gartner’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.56 earnings per share. As a group, sell-side analysts anticipate that Gartner will post 11.89 EPS for the current year.

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.