Gartner (NYSE:IT) Price Target Raised to $470.00

Gartner (NYSE:IT) had its price target hoisted by Wells Fargo & Company from $460.00 to $470.00 in a research report report published on Wednesday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the information technology services provider’s stock.

Several other analysts have also recently commented on the company. Robert W. Baird lifted their price target on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a report on Wednesday. BMO Capital Markets lifted their price objective on Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. Bank of America lifted their price objective on Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Barclays boosted their price target on Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, UBS Group boosted their price target on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One 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 presently has a consensus rating of “Hold” and an average target price of $539.25.

Gartner Price Performance

Shares of IT stock traded up $2.51 during mid-day trading on Wednesday, reaching $539.41. The stock had a trading volume of 45,316 shares, compared to its average volume of 367,282. Gartner has a 12-month low of $396.60 and a 12-month high of $542.13. The company has a market cap of $41.57 billion, a P/E ratio of 51.13, a price-to-earnings-growth ratio of 3.14 and a beta of 1.32. The business has a 50-day simple moving average of $510.44 and a 200 day simple moving average of $473.06. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 3.80.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.05. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.56 EPS. On average, sell-side analysts anticipate that Gartner will post 11.65 earnings per share for the current year.

Insider Transactions at Gartner

In other Gartner news, EVP Akhil Jain sold 400 shares of Gartner stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $485.00, for a total value of $194,000.00. Following the sale, the executive vice president now directly owns 4,839 shares in the company, valued at approximately $2,346,915. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Gartner news, EVP Akhil Jain sold 400 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $485.00, for a total value of $194,000.00. Following the transaction, the executive vice president now directly owns 4,839 shares of the company’s stock, valued at $2,346,915. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eugene A. Hall sold 34,060 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the transaction, the chief executive officer now owns 1,143,401 shares in the company, valued at approximately $577,874,865.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,899 shares of company stock valued at $24,959,886 over the last three months. 3.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Gartner

A number of hedge funds and other institutional investors have recently bought and sold shares of IT. Janney Montgomery Scott LLC boosted its holdings in shares of Gartner by 0.5% in the first quarter. Janney Montgomery Scott LLC now owns 11,273 shares of the information technology services provider’s stock worth $5,374,000 after buying an additional 59 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Gartner by 4.3% during the first quarter. Nordea Investment Management AB now owns 6,370 shares of the information technology services provider’s stock valued at $3,075,000 after purchasing an additional 260 shares during the period. Whittier Trust Co. raised its holdings in shares of Gartner by 43.5% in the first quarter. Whittier Trust Co. now owns 432 shares of the information technology services provider’s stock valued at $206,000 after acquiring an additional 131 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in Gartner in the first quarter worth about $36,000. Finally, GSA Capital Partners LLP bought a new position in shares of Gartner during the 1st quarter worth approximately $1,121,000. 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.