Gartner (NYSE:IT) Price Target Raised to $510.00

Gartner (NYSE:IT) had its price objective boosted by investment analysts at BMO Capital Markets from $450.00 to $510.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “market perform” rating on the information technology services provider’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 0.77% from the company’s current price.

A number of other equities analysts have also recently commented on the stock. Morgan Stanley lifted their price target on shares of Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. UBS Group dropped their price target on shares of Gartner from $550.00 to $510.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Robert W. Baird lifted their price target on shares of Gartner from $517.00 to $565.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Gartner in a report on Tuesday, April 16th. They set a “hold” rating and a $507.00 price objective for the company. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Gartner currently has a consensus rating of “Hold” and a consensus target price of $499.50.

Gartner Price Performance

NYSE IT traded up $7.35 on Wednesday, reaching $506.12. The company had a trading volume of 95,616 shares, compared to its average volume of 404,572. 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 stock has a market capitalization of $39.29 billion, a PE ratio of 50.36, a price-to-earnings-growth ratio of 4.08 and a beta of 1.33. The firm’s 50 day moving average price is $447.16 and its 200 day moving average price is $454.38. Gartner has a 12 month low of $323.61 and a 12 month high of $508.13.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.20. Gartner had a net margin of 13.35% and a return on equity of 141.55%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period last year, the company posted $2.85 EPS. The business’s revenue was up 6.1% on a year-over-year basis. As a group, equities analysts predict that Gartner will post 11.63 earnings per share for the current year.

Insider Activity at Gartner

In other news, EVP Yvonne Genovese sold 439 shares of the business’s stock in a transaction dated 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 SEC, which is available at the SEC website. In other news, EVP Yvonne Genovese sold 439 shares of the business’s stock in a transaction dated 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 SEC, which is available at the SEC website. Also, EVP Alwyn Dawkins sold 600 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $447.63, for a total transaction of $268,578.00. Following the transaction, the executive vice president now owns 51,583 shares of the company’s stock, valued at approximately $23,090,098.29. The disclosure for this sale can be found here. Insiders sold 22,544 shares of company stock worth $10,079,813 in the last 90 days. 3.60% of the stock is owned by corporate insiders.

Institutional Trading of Gartner

Large investors have recently made changes to their positions in the business. Allworth Financial LP grew its holdings in shares of Gartner by 2.8% in the fourth quarter. Allworth Financial LP now owns 807 shares of the information technology services provider’s stock valued at $364,000 after purchasing an additional 22 shares during the period. BSW Wealth Partners grew its holdings in shares of Gartner by 3.7% in the fourth quarter. BSW Wealth Partners now owns 617 shares of the information technology services provider’s stock valued at $278,000 after purchasing an additional 22 shares during the period. Sheaff Brock Investment Advisors LLC grew its holdings in shares of Gartner by 0.5% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 4,900 shares of the information technology services provider’s stock valued at $2,210,000 after purchasing an additional 22 shares during the period. TIAA Trust National Association grew its holdings in shares of Gartner by 3.2% in the first quarter. TIAA Trust National Association now owns 744 shares of the information technology services provider’s stock valued at $355,000 after purchasing an additional 23 shares during the period. Finally, Mather Group LLC. grew its holdings in shares of Gartner by 2.2% in the second quarter. Mather Group LLC. now owns 1,079 shares of the information technology services provider’s stock valued at $514,000 after purchasing an additional 23 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

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.