Gartner (NYSE:IT) Upgraded by Barclays to “Overweight” Rating

Barclays upgraded shares of Gartner (NYSE:IT) from an equal weight rating to an overweight rating in a report issued on Friday morning, Marketbeat.com reports. They currently have $600.00 price objective on the information technology services provider’s stock, up from their prior price objective of $525.00.

A number of other brokerages have also issued reports on IT. Robert W. Baird raised their price target on shares of Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft raised their target price on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Morgan Stanley boosted their price target on Gartner from $560.00 to $564.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Wells Fargo & Company raised their price objective on Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 6th. Finally, StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $551.88.

Gartner Stock Down 1.3 %

Gartner stock opened at $488.91 on Friday. The business has a fifty day moving average price of $510.05 and a 200-day moving average price of $495.69. Gartner has a 1-year low of $411.15 and a 1-year high of $559.00. The stock has a market capitalization of $37.71 billion, a price-to-earnings ratio of 36.06, a PEG ratio of 3.18 and a beta of 1.33. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.05. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The company’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.56 earnings per share. Equities research analysts forecast that Gartner will post 11.87 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Claire Herkes sold 411 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $521.24, for a total transaction of $214,229.64. Following the sale, the executive vice president now directly owns 1,494 shares in the company, valued at $778,732.56. This trade represents a 21.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William James Wartinbee III sold 189 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $523.54, for a total value of $98,949.06. Following the completion of the transaction, the executive vice president now directly owns 7,311 shares of the company’s stock, valued at $3,827,600.94. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,583 shares of company stock valued at $19,241,974 over the last ninety days. Company insiders own 3.60% of the company’s stock.

Institutional Trading of Gartner

Several institutional investors have recently bought and sold shares of IT. Choreo LLC acquired a new stake in Gartner in the 2nd quarter valued at $722,000. Assetmark Inc. grew its position in shares of Gartner by 70.0% in the third quarter. Assetmark Inc. now owns 5,144 shares of the information technology services provider’s stock valued at $2,607,000 after purchasing an additional 2,118 shares during the period. Federated Hermes Inc. increased its stake in shares of Gartner by 9.0% during the second quarter. Federated Hermes Inc. now owns 59,393 shares of the information technology services provider’s stock worth $26,671,000 after purchasing an additional 4,887 shares in the last quarter. ING Groep NV raised its position in shares of Gartner by 38.4% during the 3rd quarter. ING Groep NV now owns 10,306 shares of the information technology services provider’s stock worth $5,223,000 after purchasing an additional 2,860 shares during the last quarter. Finally, Barclays PLC lifted its stake in Gartner by 8.6% in the 3rd quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock valued at $84,520,000 after buying an additional 13,205 shares in the last quarter. 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.