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

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

Other equities analysts have also recently issued research reports about the stock. BMO Capital Markets raised their price target on shares of Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Bank of America increased their price target on Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Morgan Stanley boosted their price objective on Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Finally, UBS Group raised their target price on shares of Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $539.25.

Gartner Stock Performance

Shares of Gartner stock opened at $547.40 on Wednesday. The business’s fifty day simple moving average is $512.66 and its 200-day simple moving average is $474.42. The company has a quick ratio of 0.90, a current ratio of 1.02 and a debt-to-equity ratio of 2.31. The firm has a market cap of $42.18 billion, a PE ratio of 40.37, a price-to-earnings-growth ratio of 3.27 and a beta of 1.32. Gartner has a 52 week low of $397.43 and a 52 week high of $552.33.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, topping the consensus estimate of $2.45 by $0.05. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the business posted $2.56 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities analysts forecast that Gartner will post 11.88 earnings per share for the current year.

Insider Transactions at Gartner

In other news, Director James C. Smith sold 10,000 shares of the firm’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 directly owns 554,274 shares of the company’s stock, valued at $296,957,838.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director James C. Smith sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were 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 in the company, valued at $296,957,838.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Akhil Jain sold 400 shares of the company’s stock in a transaction dated 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 owns 4,839 shares in the company, valued at $2,346,915. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,899 shares of company stock worth $30,317,486. Company insiders own 3.60% of the company’s stock.

Institutional Trading of Gartner

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Gartner by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 8,974,760 shares of the information technology services provider’s stock valued at $4,277,999,000 after purchasing an additional 60,786 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Gartner by 5.5% during the third quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock valued at $1,014,099,000 after buying an additional 103,814 shares during the period. Bessemer Group Inc. boosted its position in Gartner by 1.3% during the first quarter. Bessemer Group Inc. now owns 609,945 shares of the information technology services provider’s stock worth $290,742,000 after acquiring an additional 7,852 shares during the last quarter. Sustainable Growth Advisers LP purchased a new stake in Gartner in the 2nd quarter worth approximately $266,541,000. Finally, Dimensional Fund Advisors LP raised its holdings in Gartner by 10.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 585,026 shares of the information technology services provider’s stock valued at $262,706,000 after acquiring an additional 56,908 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

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.