Gartner (NYSE:IT) Raised to Overweight at Barclays

Gartner (NYSE:IT) was upgraded by stock analysts at Barclays from an “equal weight” rating to an “overweight” rating in a note issued to investors on Friday, Marketbeat Ratings reports. The firm currently has a $600.00 target price on the information technology services provider’s stock, up from their prior target price of $525.00. Barclays‘s target price would suggest a potential upside of 22.72% from the company’s current price.

IT has been the subject of several other research reports. Robert W. Baird increased their price target on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Wells Fargo & Company raised their price target on shares of Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley lifted their target price on shares of Gartner from $560.00 to $564.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Gartner currently has an average rating of “Hold” and a consensus target price of $551.88.

Gartner Trading Down 1.3 %

IT opened at $488.91 on Friday. The company has a market cap of $37.71 billion, a P/E ratio of 36.06, a PEG ratio of 3.18 and a beta of 1.33. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. The company’s 50 day moving average is $509.76 and its 200-day moving average is $496.27. Gartner has a 1-year low of $411.15 and a 1-year high of $559.00.

Gartner (NYSE:IT) last released its quarterly earnings data 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. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the business posted $2.56 EPS. Gartner’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts predict that Gartner will post 11.87 earnings per share for the current fiscal year.

Insider Activity at Gartner

In other Gartner news, Director James C. Smith sold 17,533 shares of Gartner stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $547.09, for a total value of $9,592,128.97. Following the sale, the director now owns 532,294 shares of the company’s stock, valued at approximately $291,212,724.46. The trade was a 3.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP William James Wartinbee III sold 189 shares of Gartner stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $523.54, for a total transaction of $98,949.06. Following the completion of the sale, the executive vice president now directly owns 7,311 shares in the company, valued at approximately $3,827,600.94. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,583 shares of company stock valued at $19,241,974 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of Gartner

Hedge funds and other institutional investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. grew its stake in Gartner by 2.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 917 shares of the information technology services provider’s stock valued at $444,000 after acquiring an additional 22 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Gartner by 0.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 30,159 shares of the information technology services provider’s stock valued at $15,283,000 after acquiring an additional 154 shares in the last quarter. Legacy Private Trust Co. grew its stake in Gartner by 13.8% during the fourth quarter. Legacy Private Trust Co. now owns 455 shares of the information technology services provider’s stock valued at $220,000 after acquiring an additional 55 shares in the last quarter. One Wealth Capital Management LLC purchased a new position in Gartner during the fourth quarter valued at approximately $342,000. Finally, Westwind Capital grew its stake in Gartner by 0.4% during the fourth quarter. Westwind Capital now owns 29,538 shares of the information technology services provider’s stock valued at $14,310,000 after acquiring an additional 122 shares in the last quarter. 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.