Gartner (NYSE:IT) Stock Rating Upgraded by Barclays

Gartner (NYSE:IT) was upgraded by Barclays from an “equal weight” rating to an “overweight” rating in a report issued on Friday, MarketBeat reports. The brokerage currently has a $600.00 price target on the information technology services provider’s stock, up from their previous price target of $525.00. Barclays‘s price objective points to a potential upside of 21.34% from the stock’s current price.

IT has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft raised their price objective 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. Wells Fargo & Company lifted their price target on Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. Robert W. Baird upped their price objective on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Morgan Stanley lifted their target price on Gartner from $560.00 to $564.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Finally, StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $553.13.

Gartner Stock Performance

Shares of IT opened at $494.49 on Friday. Gartner has a 1 year low of $411.15 and a 1 year high of $559.00. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market cap of $38.14 billion, a price-to-earnings ratio of 36.47, a price-to-earnings-growth ratio of 3.18 and a beta of 1.33. The firm has a fifty day moving average of $510.21 and a 200-day moving average of $495.69.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The company’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.56 earnings per share. As a group, equities analysts anticipate that Gartner will post 11.87 earnings per share for the current year.

Insider Buying and Selling

In other Gartner news, EVP William James Wartinbee III sold 189 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $523.54, for a total transaction of $98,949.06. Following the transaction, the executive vice president now directly owns 7,311 shares of the company’s stock, valued at $3,827,600.94. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James C. Smith sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $535.76, for a total value of $5,357,600.00. Following the completion of the sale, the director now owns 554,274 shares of the company’s stock, valued at approximately $296,957,838.24. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,583 shares of company stock valued at $19,241,974. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Gartner

Institutional investors and hedge funds have recently bought and sold shares of the stock. Choreo LLC bought a new position in Gartner during the second quarter worth about $722,000. Assetmark Inc. lifted its position in shares of Gartner by 70.0% during the 3rd quarter. Assetmark Inc. now owns 5,144 shares of the information technology services provider’s stock worth $2,607,000 after buying an additional 2,118 shares during the period. Federated Hermes Inc. boosted its stake in Gartner by 9.0% in the 2nd quarter. Federated Hermes Inc. now owns 59,393 shares of the information technology services provider’s stock valued at $26,671,000 after buying an additional 4,887 shares in the last quarter. ING Groep NV boosted its stake in Gartner by 38.4% in the 3rd quarter. ING Groep NV now owns 10,306 shares of the information technology services provider’s stock valued at $5,223,000 after buying an additional 2,860 shares in the last quarter. Finally, Barclays PLC grew its position in Gartner by 8.6% in the third quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock valued at $84,520,000 after acquiring an additional 13,205 shares during the period. 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.