Shares of Gartner Inc (NYSE:IT) have received an average recommendation of “Buy” from the thirteen research firms that are covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $141.90.
IT has been the subject of several research analyst reports. Morgan Stanley upped their target price on Gartner from $133.00 to $140.00 and gave the stock a “$140.13” rating in a research note on Wednesday, July 18th. TheStreet raised Gartner from a “c” rating to a “b” rating in a research note on Wednesday, August 1st. ValuEngine raised Gartner from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. BMO Capital Markets reaffirmed a “buy” rating and set a $161.00 target price (up from $147.00) on shares of Gartner in a research note on Friday, August 31st. Finally, Barclays reaffirmed a “buy” rating and set a $155.00 target price on shares of Gartner in a research note on Sunday, August 12th.
Shares of NYSE:IT opened at $152.39 on Friday. Gartner has a 12-month low of $111.57 and a 12-month high of $154.20. The company has a market capitalization of $13.95 billion, a price-to-earnings ratio of 46.04, a P/E/G ratio of 2.83 and a beta of 1.19. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.64 and a quick ratio of 0.64.
Gartner (NYSE:IT) last announced its quarterly earnings results on Wednesday, August 1st. The information technology services provider reported $1.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.07. Gartner had a return on equity of 35.04% and a net margin of 2.25%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $985.98 million. During the same period in the previous year, the company posted $0.88 earnings per share. Gartner’s revenue for the quarter was up 18.7% on a year-over-year basis. sell-side analysts anticipate that Gartner will post 3.74 EPS for the current year.
In related news, EVP Alwyn Dawkins sold 800 shares of the business’s stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $138.00, for a total transaction of $110,400.00. Following the completion of the sale, the executive vice president now directly owns 29,880 shares in the company, valued at $4,123,440. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robin B. Kranich sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $140.09, for a total value of $560,360.00. Following the sale, the executive vice president now owns 16,916 shares of the company’s stock, valued at $2,369,762.44. The disclosure for this sale can be found here. Insiders have sold 56,106 shares of company stock valued at $7,905,627 over the last quarter. 4.30% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of IT. Polen Capital Management LLC increased its position in shares of Gartner by 30.5% during the first quarter. Polen Capital Management LLC now owns 5,393,527 shares of the information technology services provider’s stock worth $634,387,000 after purchasing an additional 1,261,318 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Gartner by 114.6% in the 1st quarter. JPMorgan Chase & Co. now owns 1,713,982 shares of the information technology services provider’s stock valued at $201,598,000 after buying an additional 915,229 shares in the last quarter. Bank of America Corp DE grew its holdings in Gartner by 175.0% in the 2nd quarter. Bank of America Corp DE now owns 1,370,511 shares of the information technology services provider’s stock valued at $182,142,000 after buying an additional 872,182 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Gartner by 22.6% in the 1st quarter. Principal Financial Group Inc. now owns 3,589,077 shares of the information technology services provider’s stock valued at $422,148,000 after buying an additional 662,107 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Gartner by 11.6% in the 2nd quarter. Janus Henderson Group PLC now owns 5,238,694 shares of the information technology services provider’s stock valued at $696,223,000 after buying an additional 543,074 shares in the last quarter. Hedge funds and other institutional investors own 96.80% of the company’s stock.
Gartner, Inc operates as a research and advisory company. It operates through four segments: Research, Consulting, Events, and Talent Assessment & Other. 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 our 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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