Gartner, Inc. (NYSE:IT) Receives $304.00 Average Price Target from Brokerages

Gartner, Inc. (NYSE:ITGet Rating) has been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $321.67.

Several research firms recently issued reports on IT. Bank of America upgraded shares of Gartner from a “neutral” rating to a “buy” rating and set a $340.00 price target on the stock in a research report on Thursday, April 14th. Barclays increased their price objective on shares of Gartner from $265.00 to $315.00 and gave the company an “equal weight” rating in a research note on Thursday. TheStreet downgraded shares of Gartner from a “b” rating to a “c+” rating in a research note on Tuesday, May 3rd. Wells Fargo & Company increased their price objective on shares of Gartner from $305.00 to $345.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Robert W. Baird increased their price objective on shares of Gartner from $334.00 to $365.00 in a research note on Wednesday.

Gartner Stock Performance

NYSE IT opened at $295.44 on Wednesday. The company has a current ratio of 0.62, a quick ratio of 0.70 and a debt-to-equity ratio of 20.79. The firm has a market capitalization of $23.79 billion, a price-to-earnings ratio of 33.31 and a beta of 1.45. The firm’s 50 day simple moving average is $251.55 and its 200 day simple moving average is $271.96. Gartner has a 1 year low of $221.39 and a 1 year high of $368.99.

Gartner (NYSE:ITGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The information technology services provider reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.70. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.32 billion. Gartner had a net margin of 14.42% and a return on equity of 497.67%. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter last year, the business posted $2.24 EPS. As a group, research analysts expect that Gartner will post 8.7 earnings per share for the current fiscal year.

Gartner declared that its board has initiated a stock buyback plan on Tuesday, May 3rd that allows the company to buyback $500.00 million in shares. This buyback authorization allows the information technology services provider to reacquire up to 2.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, EVP Jules Kaufman sold 4,136 shares of the firm’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $291.48, for a total transaction of $1,205,561.28. Following the completion of the transaction, the executive vice president now owns 4,664 shares of the company’s stock, valued at $1,359,462.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Alwyn Dawkins sold 500 shares of Gartner stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $250.82, for a total transaction of $125,410.00. Following the completion of the transaction, the executive vice president now owns 45,596 shares of the company’s stock, valued at $11,436,388.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jules Kaufman sold 4,136 shares of Gartner stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $291.48, for a total transaction of $1,205,561.28. Following the transaction, the executive vice president now directly owns 4,664 shares of the company’s stock, valued at approximately $1,359,462.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,951 shares of company stock valued at $5,188,596. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Gartner

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Gartner by 1.1% during the first quarter. Vanguard Group Inc. now owns 9,198,161 shares of the information technology services provider’s stock worth $2,736,085,000 after buying an additional 102,709 shares during the last quarter. BlackRock Inc. raised its stake in Gartner by 2.8% during the first quarter. BlackRock Inc. now owns 6,446,779 shares of the information technology services provider’s stock worth $1,917,660,000 after buying an additional 173,532 shares during the last quarter. State Street Corp raised its stake in Gartner by 2.1% during the fourth quarter. State Street Corp now owns 3,273,310 shares of the information technology services provider’s stock worth $1,094,333,000 after buying an additional 68,873 shares during the last quarter. Wellington Management Group LLP raised its stake in Gartner by 20.3% during the first quarter. Wellington Management Group LLP now owns 2,029,738 shares of the information technology services provider’s stock worth $603,766,000 after buying an additional 342,228 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Gartner by 7.3% during the first quarter. Invesco Ltd. now owns 1,313,140 shares of the information technology services provider’s stock worth $390,606,000 after buying an additional 89,707 shares during the last quarter. Institutional investors own 92.05% of the company’s stock.

Gartner Company Profile

(Get Rating)

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.

Further Reading

Analyst Recommendations for Gartner (NYSE:IT)

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