Gartner, Inc. (NYSE:IT) Receives Average Rating of “Hold” from Analysts

Shares of Gartner, Inc. (NYSE:IT) have been given a consensus rating of “Hold” by the nine brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $552.63.

A number of equities analysts have issued reports on IT shares. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday. Robert W. Baird lifted their target price on shares of Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. Morgan Stanley cut their target price on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $525.00 to $600.00 in a research report on Friday, January 10th. Finally, Wells Fargo & Company cut their target price on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research report on Friday, January 10th.

Insider Activity at Gartner

In related news, Director Eileen Serra sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $489.77, for a total value of $587,724.00. Following the completion of the sale, the director now directly owns 1,627 shares in the company, valued at approximately $796,855.79. The trade was a 42.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John J. Rinello sold 90 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the sale, the senior vice president now owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. The trade was a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Gartner

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Gartner by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 9,268,639 shares of the information technology services provider’s stock worth $4,490,378,000 after buying an additional 100,917 shares during the period. State Street Corp grew its stake in Gartner by 1.1% during the third quarter. State Street Corp now owns 3,257,355 shares of the information technology services provider’s stock worth $1,650,697,000 after buying an additional 36,258 shares during the period. FMR LLC grew its stake in Gartner by 8.6% during the fourth quarter. FMR LLC now owns 2,822,122 shares of the information technology services provider’s stock worth $1,367,233,000 after buying an additional 223,087 shares during the period. Geode Capital Management LLC grew its stake in Gartner by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 2,063,577 shares of the information technology services provider’s stock worth $998,400,000 after buying an additional 45,219 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Gartner by 0.6% during the fourth quarter. Principal Financial Group Inc. now owns 2,012,799 shares of the information technology services provider’s stock worth $975,141,000 after buying an additional 11,657 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Gartner Stock Performance

NYSE:IT opened at $483.64 on Friday. Gartner has a fifty-two week low of $411.15 and a fifty-two week high of $584.01. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The firm’s fifty day simple moving average is $510.05 and its 200-day simple moving average is $510.17. The stock has a market cap of $37.15 billion, a PE ratio of 30.17, a price-to-earnings-growth ratio of 3.30 and a beta of 1.34.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, beating the consensus estimate of $3.22 by $2.23. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the firm posted $3.04 EPS. Analysts expect that Gartner will post 12.5 earnings per share for the current fiscal 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.