Gartner (NYSE:IT) Price Target Raised to $531.00 at Deutsche Bank Aktiengesellschaft

Gartner (NYSE:IT) had its price objective hoisted by Deutsche Bank Aktiengesellschaft from $529.00 to $531.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the information technology services provider’s stock.

Other equities research analysts have also recently issued research reports about the company. Barclays upped their price target on Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Wells Fargo & Company upped their price objective on Gartner from $435.00 to $460.00 and gave the stock an “underweight” rating in a report on Monday, October 14th. Bank of America raised their target price on Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Robert W. Baird boosted their target price on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Gartner has a consensus rating of “Hold” and a consensus target price of $539.25.

Gartner Stock Performance

NYSE IT traded up $2.51 during trading hours on Wednesday, hitting $539.41. The company had a trading volume of 45,316 shares, compared to its average volume of 367,282. The business has a 50 day moving average of $510.44 and a 200-day moving average of $473.06. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90. Gartner has a 1-year low of $396.60 and a 1-year high of $542.13. The company has a market cap of $41.57 billion, a PE ratio of 51.13, a price-to-earnings-growth ratio of 3.14 and a beta of 1.32.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, topping the consensus estimate of $2.45 by $0.05. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.48 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.56 earnings per share. As a group, equities research analysts expect that Gartner will post 11.65 EPS for the current year.

Insider Activity at Gartner

In other Gartner news, CEO Eugene A. Hall sold 34,060 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $505.40, for a total value of $17,213,924.00. Following the completion of the transaction, the chief executive officer now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Akhil Jain sold 400 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $485.00, for a total transaction of $194,000.00. Following the completion of the transaction, the executive vice president now owns 4,839 shares of the company’s stock, valued at approximately $2,346,915. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Eugene A. Hall sold 34,060 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $505.40, for a total value of $17,213,924.00. Following the sale, the chief executive officer now directly owns 1,143,401 shares of the company’s stock, valued at approximately $577,874,865.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,899 shares of company stock valued at $24,959,886. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Gartner

Several hedge funds and other institutional investors have recently modified their holdings of IT. Eastern Bank acquired a new position in shares of Gartner during the third quarter worth $26,000. Central Pacific Bank Trust Division acquired a new stake in Gartner during the first quarter valued at approximately $36,000. Ashton Thomas Securities LLC bought a new position in Gartner during the third quarter worth $44,000. Crewe Advisors LLC increased its stake in Gartner by 223.3% during the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after purchasing an additional 67 shares during the last quarter. Finally, Fortitude Family Office LLC raised its holdings in shares of Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after purchasing an additional 20 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

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.