Robert W. Baird Boosts Gartner (NYSE:IT) Price Target to $565.00

Gartner (NYSE:IT) had its price target raised by analysts at Robert W. Baird from $517.00 to $565.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the information technology services provider’s stock. Robert W. Baird’s price target suggests a potential upside of 13.28% from the company’s current price.

Several other equities analysts have also recently issued reports on IT. Deutsche Bank Aktiengesellschaft began coverage on Gartner in a report on Tuesday, April 16th. They set a “hold” rating and a $507.00 price objective for the company. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Morgan Stanley upped their price target on 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 cut their price objective on Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, BMO Capital Markets decreased their target price on Gartner from $450.00 to $432.00 and set a “market perform” rating for the company in a report on Thursday, May 2nd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Gartner presently has a consensus rating of “Hold” and a consensus target price of $486.50.

Gartner Stock Up 5.9 %

Shares of Gartner stock opened at $498.77 on Wednesday. Gartner has a one year low of $323.61 and a one year high of $506.15. The company has a market cap of $38.72 billion, a P/E ratio of 49.63, a PEG ratio of 4.08 and a beta of 1.33. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a fifty day moving average of $447.16 and a two-hundred day moving average of $454.38.

Gartner (NYSE:IT) last issued its quarterly 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 $3.03 by $0.19. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. Gartner had a net margin of 13.35% and a return on equity of 141.55%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.85 earnings per share. On average, analysts forecast that Gartner will post 11.63 earnings per share for the current year.

Insider Buying and Selling at Gartner

In related news, EVP Yvonne Genovese sold 439 shares of the company’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 sale, the executive vice president now directly owns 1,959 shares of the company’s stock, valued at $893,558.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Yvonne Genovese sold 439 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was 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 directly owns 1,959 shares in the company, valued at approximately $893,558.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alwyn Dawkins sold 600 shares of Gartner stock in a transaction 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 completion of the transaction, the executive vice president now directly 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 a total of 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.

Hedge Funds Weigh In On Gartner

A number of hedge funds and other institutional investors have recently bought and sold shares of IT. RFG Advisory LLC boosted its holdings in shares of Gartner by 37.2% during the fourth quarter. RFG Advisory LLC now owns 1,589 shares of the information technology services provider’s stock valued at $717,000 after acquiring an additional 431 shares during the period. TCW Group Inc. raised its holdings in shares of Gartner by 4.0% during 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 buying an additional 7,639 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Gartner by 11.4% during the first quarter. Russell Investments Group Ltd. now owns 25,063 shares of the information technology services provider’s stock worth $11,987,000 after buying an additional 2,560 shares during the period. Icon Wealth Advisors LLC bought a new position in Gartner in the 4th quarter worth approximately $2,093,000. Finally, Charles Schwab Investment Management Inc. increased its position in Gartner by 2.4% in the 4th 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 acquiring an additional 10,828 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Company Profile

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.