BMO Capital Markets Boosts Gartner (NYSE:IT) Price Target to $510.00

Gartner (NYSE:IT) had its target price increased by equities research analysts at BMO Capital Markets from $450.00 to $510.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “market perform” rating on the information technology services provider’s stock. BMO Capital Markets’ price target would suggest a potential upside of 3.39% from the stock’s current price.

A number of other brokerages have also weighed in on IT. Robert W. Baird raised their price objective on shares of Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft initiated 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. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Morgan Stanley raised their price objective on shares of Gartner from $440.00 to $470.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. Finally, UBS Group reduced their price objective on shares of Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $521.00.

Gartner Price Performance

Gartner stock opened at $493.27 on Wednesday. The firm has a market cap of $38.29 billion, a PE ratio of 49.08, a price-to-earnings-growth ratio of 4.32 and a beta of 1.33. Gartner has a 52-week low of $323.61 and a 52-week high of $509.15. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.42. The company’s 50 day moving average is $448.15 and its two-hundred day moving average is $454.71.

Gartner (NYSE:IT) last released its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.20. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. Gartner had a net margin of 13.67% and a return on equity of 141.59%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.85 EPS. On average, research analysts expect that Gartner will post 11.67 EPS for the current fiscal year.

Insider Activity at Gartner

In other Gartner news, EVP Yvonne Genovese sold 439 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $456.13, for a total transaction of $200,241.07. Following the transaction, the executive vice president now directly owns 1,959 shares of the company’s stock, valued at approximately $893,558.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Yvonne Genovese sold 439 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $456.13, for a total value of $200,241.07. Following the completion of the sale, the executive vice president now owns 1,959 shares in the company, valued at approximately $893,558.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James C. Smith sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $439.29, for a total transaction of $4,392,900.00. Following the completion of the sale, the director now owns 599,074 shares of the company’s stock, valued at approximately $263,167,217.46. The disclosure for this sale can be found here. Insiders have sold 22,544 shares of company stock valued at $10,079,813 in the last ninety days. Insiders own 3.60% of the company’s stock.

Institutional Trading of Gartner

Hedge funds have recently made changes to their positions in the company. RFG Advisory LLC lifted its stake in shares of Gartner by 37.2% in the 4th quarter. RFG Advisory LLC now owns 1,589 shares of the information technology services provider’s stock worth $717,000 after acquiring an additional 431 shares during the period. TCW Group Inc. lifted its stake in shares of Gartner by 4.0% in the fourth quarter. TCW Group Inc. now owns 199,062 shares of the information technology services provider’s stock valued at $89,800,000 after purchasing an additional 7,639 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Gartner by 11.4% in the first quarter. Russell Investments Group Ltd. now owns 25,063 shares of the information technology services provider’s stock valued at $11,987,000 after purchasing an additional 2,560 shares during the period. Icon Wealth Advisors LLC acquired a new stake in shares of Gartner in the fourth quarter valued at about $2,093,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Gartner by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 461,813 shares of the information technology services provider’s stock valued at $208,328,000 after purchasing an additional 10,828 shares during the period. Institutional investors and hedge funds 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.