Gartner (NYSE:IT) Given New $432.00 Price Target at BMO Capital Markets

Gartner (NYSE:IT) had its price target reduced by analysts at BMO Capital Markets from $450.00 to $432.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the information technology services provider’s stock. BMO Capital Markets’ target price suggests a potential upside of 2.12% from the stock’s current price.

Several other research analysts have also recently commented on IT. Robert W. Baird reduced their price target on Gartner from $536.00 to $517.00 and set an “outperform” rating for the company in a research report on Wednesday. Morgan Stanley increased their price target on Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. UBS Group reduced their target price on Gartner from $550.00 to $510.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Gartner in a report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Gartner has a consensus rating of “Hold” and an average target price of $474.50.

Gartner Trading Up 0.2 %

Shares of Gartner stock traded up $0.66 during trading hours on Thursday, hitting $423.05. The company’s stock had a trading volume of 164,996 shares, compared to its average volume of 404,677. Gartner has a 12 month low of $295.43 and a 12 month high of $486.54. The stock has a 50 day moving average of $463.85 and a 200 day moving average of $439.90. The company has a market capitalization of $32.99 billion, a PE ratio of 41.95, a price-to-earnings-growth ratio of 3.59 and a beta of 1.32. The company has a debt-to-equity ratio of 3.60, a current ratio of 0.91 and a quick ratio of 0.91.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.40. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Gartner had a return on equity of 147.74% and a net margin of 13.35%. Gartner’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.88 earnings per share. Analysts predict that Gartner will post 11.73 earnings per share for the current year.

Insider Activity at Gartner

In related news, EVP Claire Herkes sold 1,460 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $475.76, for a total value of $694,609.60. Following the transaction, the executive vice president now directly owns 2,842 shares in the company, valued at $1,352,109.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Valentin Sribar sold 682 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $453.00, for a total value of $308,946.00. Following the completion of the transaction, the executive vice president now owns 12,269 shares of the company’s stock, valued at $5,557,857. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Claire Herkes sold 1,460 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $475.76, for a total transaction of $694,609.60. Following the completion of the transaction, the executive vice president now directly owns 2,842 shares of the company’s stock, valued at approximately $1,352,109.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,952 shares of company stock worth $10,598,070. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IT. OFI Invest Asset Management acquired a new stake in Gartner during the 3rd quarter valued at approximately $25,000. BKM Wealth Management LLC acquired a new stake in Gartner during the 4th quarter valued at approximately $26,000. MCF Advisors LLC acquired a new stake in Gartner during the 4th quarter valued at approximately $27,000. Frazier Financial Advisors LLC acquired a new stake in Gartner during the 4th quarter valued at approximately $27,000. Finally, VisionPoint Advisory Group LLC increased its position in Gartner by 254.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 85 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 61 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.