Gartner (NYSE:IT) Price Target Raised to $590.00

Gartner (NYSE:IT) had its price target upped by Robert W. Baird from $565.00 to $590.00 in a report released on Wednesday, Benzinga reports. They currently have an outperform rating on the information technology services provider’s stock.

A number of other research analysts have also weighed in on the stock. UBS Group raised their target price on shares of Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets upped their target price on Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Bank of America lifted their price target on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Wells Fargo & Company boosted their price target on shares of Gartner from $435.00 to $460.00 and gave the company an “underweight” rating in a research report on Monday, October 14th. Finally, StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $539.25.

Gartner Price Performance

Shares of NYSE:IT traded up $2.03 during trading on Wednesday, reaching $538.93. The stock had a trading volume of 28,778 shares, compared to its average volume of 367,206. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90. Gartner has a 1-year low of $396.60 and a 1-year high of $542.13. The stock has a market cap of $41.53 billion, a PE ratio of 51.13, a PEG ratio of 3.14 and a beta of 1.32. The business has a fifty day moving average price of $510.44 and a 200-day moving average price of $473.06.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.05. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.56 EPS. On average, equities analysts forecast that Gartner will post 11.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Gartner

In other Gartner news, EVP Akhil Jain sold 400 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $485.00, for a total transaction of $194,000.00. Following the transaction, the executive vice president now directly owns 4,839 shares in the company, valued at $2,346,915. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Eugene A. Hall sold 34,060 shares of Gartner stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 1,143,401 shares in the company, valued at approximately $577,874,865.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Akhil Jain sold 400 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $485.00, for a total transaction of $194,000.00. Following the completion of the transaction, the executive vice president now directly owns 4,839 shares of the company’s stock, valued at $2,346,915. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,899 shares of company stock worth $24,959,886 over the last three months. Insiders own 3.60% of the company’s stock.

Institutional Trading of Gartner

Large investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans raised its holdings in Gartner by 8.2% in the third quarter. Thrivent Financial for Lutherans now owns 37,824 shares of the information technology services provider’s stock valued at $19,168,000 after acquiring an additional 2,875 shares in the last quarter. Natixis Advisors LLC increased its position in shares of Gartner by 15.4% in the 3rd quarter. Natixis Advisors LLC now owns 230,939 shares of the information technology services provider’s stock valued at $117,031,000 after purchasing an additional 30,842 shares during the last quarter. Mizuho Securities USA LLC raised its holdings in shares of Gartner by 1,074.8% in the 3rd quarter. Mizuho Securities USA LLC now owns 70,312 shares of the information technology services provider’s stock valued at $35,631,000 after purchasing an additional 64,327 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Gartner by 37.7% during the 3rd quarter. Empowered Funds LLC now owns 5,537 shares of the information technology services provider’s stock worth $2,806,000 after purchasing an additional 1,515 shares during the last quarter. Finally, Empirical Finance LLC grew its stake in shares of Gartner by 2.1% during the third quarter. Empirical Finance LLC now owns 2,738 shares of the information technology services provider’s stock worth $1,388,000 after purchasing an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

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.