Shares of Gartner Inc (NYSE:IT) have been assigned an average rating of “Hold” from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $155.40.
IT has been the topic of several research analyst reports. TheStreet cut Gartner from a “b” rating to a “c+” rating in a research note on Thursday, October 31st. BMO Capital Markets reduced their target price on Gartner to $142.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 31st. Morgan Stanley reduced their target price on Gartner from $156.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 31st. ValuEngine raised Gartner from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Finally, Bank of America boosted their target price on Gartner from $150.00 to $172.00 and gave the company a “buy” rating in a research note on Monday, November 4th.
In related news, EVP David K. Mcveigh sold 2,516 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $157.33, for a total value of $395,842.28. Following the sale, the executive vice president now directly owns 8,942 shares of the company’s stock, valued at $1,406,844.86. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Alwyn Dawkins sold 1,500 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $132.50, for a total value of $198,750.00. Following the completion of the sale, the executive vice president now directly owns 33,485 shares in the company, valued at $4,436,762.50. The disclosure for this sale can be found here. Insiders have sold 19,413 shares of company stock worth $2,950,989 over the last three months. Insiders own 4.00% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Bartlett & Co. LLC purchased a new stake in Gartner in the third quarter worth $29,000. Ibex Wealth Advisors purchased a new stake in shares of Gartner in the second quarter worth $40,000. Squar Milner Financial Services LLC grew its stake in shares of Gartner by 116.3% in the third quarter. Squar Milner Financial Services LLC now owns 318 shares of the information technology services provider’s stock worth $45,000 after acquiring an additional 171 shares during the last quarter. Strategic Blueprint LLC purchased a new stake in shares of Gartner in the third quarter worth $46,000. Finally, CSat Investment Advisory L.P. grew its stake in shares of Gartner by 114.8% in the second quarter. CSat Investment Advisory L.P. now owns 348 shares of the information technology services provider’s stock worth $56,000 after acquiring an additional 186 shares during the last quarter. 95.83% of the stock is currently owned by institutional investors.
Shares of IT traded up $0.36 during mid-day trading on Thursday, hitting $160.36. 318,300 shares of the company’s stock traded hands, compared to its average volume of 490,408. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 3.08. Gartner has a 1 year low of $120.89 and a 1 year high of $171.77. The firm has a market capitalization of $14.49 billion, a P/E ratio of 42.31, a PEG ratio of 3.48 and a beta of 1.23. The business’s 50-day moving average price is $146.03 and its 200-day moving average price is $149.67.
Gartner (NYSE:IT) last posted its earnings results on Thursday, October 31st. The information technology services provider reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.27. Gartner had a return on equity of 40.06% and a net margin of 6.04%. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $992.84 million. During the same period in the previous year, the firm earned $0.85 earnings per share. The business’s revenue was up 8.6% compared to the same quarter last year. Sell-side analysts anticipate that Gartner will post 3.55 earnings per share for the current fiscal year.
Gartner Company Profile
Gartner, Inc operates as a research and advisory company. It operates through three segments: Research, Conferences, and Consulting. The Research segment offers objective insights and advice on the priorities of various leaders in a range of functional areas of the enterprise through research and other reports, briefings, proprietary tools, access to analysts, peer networking services, and membership programs that enable clients to make better decisions; and practice and talent management research insights in various business functions, such as human resources, sales, legal, and finance.
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