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

Gartner, Inc. (NYSE:IT) has been assigned a consensus rating of “Hold” from the eight research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $550.75.

A number of equities research analysts have issued reports on IT shares. Wells Fargo & Company reduced their price objective on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft lifted 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. Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. Morgan Stanley decreased their price target on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Finally, Robert W. Baird upped their price objective on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th.

Insider Activity

In related news, EVP Claire Herkes sold 411 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $521.24, for a total value of $214,229.64. Following the completion of the sale, the executive vice president now directly owns 1,494 shares in the company, valued at $778,732.56. This represents a 21.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James C. Smith sold 17,533 shares of Gartner stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $547.09, for a total value of $9,592,128.97. Following the transaction, the director now directly owns 532,294 shares in the company, valued at $291,212,724.46. The trade was a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,583 shares of company stock valued at $19,241,974 over the last quarter. 3.60% of the stock is owned by company insiders.

Institutional Trading of Gartner

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IT. Acadian Asset Management LLC bought a new stake in shares of Gartner in the 2nd quarter valued at $650,000. Wealthspire Advisors LLC boosted its position in Gartner by 32.5% during the second quarter. Wealthspire Advisors LLC now owns 640 shares of the information technology services provider’s stock valued at $287,000 after acquiring an additional 157 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Gartner by 10.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 585,026 shares of the information technology services provider’s stock worth $262,706,000 after acquiring an additional 56,908 shares during the period. Citizens Financial Group Inc. RI bought a new position in shares of Gartner in the 2nd quarter worth about $354,000. Finally, Moors & Cabot Inc. lifted its stake in shares of Gartner by 3.0% in the 2nd quarter. Moors & Cabot Inc. now owns 763 shares of the information technology services provider’s stock valued at $343,000 after purchasing an additional 22 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Stock Performance

NYSE IT opened at $524.80 on Thursday. Gartner has a 12-month low of $411.15 and a 12-month high of $559.00. The firm has a 50-day moving average price of $505.78 and a two-hundred day moving average price of $499.91. The company has a market capitalization of $40.48 billion, a P/E ratio of 38.70, a P/E/G ratio of 2.87 and a beta of 1.33. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.05. The business 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%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.56 earnings per share. Analysts anticipate that Gartner will post 11.87 earnings per share for the current year.

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.