Gartner (NYSE:IT) Price Target Raised to $605.00

Gartner (NYSE:IT) had its price target raised by Robert W. Baird from $579.00 to $605.00 in a research report report published on Wednesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the information technology services provider’s stock.

IT has been the subject of several other research reports. Wells Fargo & Company lowered their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $525.00 to $600.00 in a research report on Friday, January 10th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Morgan Stanley decreased their price objective on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Finally, StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Gartner has an average rating of “Hold” and an average target price of $552.63.

Gartner Trading Down 1.0 %

NYSE IT opened at $528.93 on Wednesday. The firm’s 50 day moving average price is $509.71 and its two-hundred day moving average price is $506.06. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02. Gartner has a twelve month low of $411.15 and a twelve month high of $584.01. The stock has a market cap of $40.80 billion, a price-to-earnings ratio of 39.01, a PEG ratio of 3.37 and a beta of 1.34.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $2.23. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the prior year, the business earned $3.04 EPS. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities analysts anticipate that Gartner will post 11.87 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Claire Herkes sold 411 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $521.24, for a total transaction of $214,229.64. Following the completion of the sale, the executive vice president now directly owns 1,494 shares of the company’s stock, valued at $778,732.56. This trade represents a 21.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James C. Smith sold 2,450 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $554.68, for a total value of $1,358,966.00. Following the completion of the transaction, the director now directly owns 529,844 shares in the company, valued at approximately $293,893,869.92. This represents a 0.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,050 shares of company stock worth $4,292,245 over the last three months. 3.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Gartner

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp raised its stake in shares of Gartner by 1.1% during the third quarter. State Street Corp now owns 3,257,355 shares of the information technology services provider’s stock worth $1,650,697,000 after buying an additional 36,258 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Gartner by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,018,358 shares of the information technology services provider’s stock valued at $1,020,378,000 after acquiring an additional 36,698 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Gartner by 0.6% in the 4th quarter. Principal Financial Group Inc. now owns 2,012,799 shares of the information technology services provider’s stock valued at $975,141,000 after purchasing an additional 11,657 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Gartner by 7.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock worth $525,272,000 after purchasing an additional 70,236 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Gartner by 3.3% during the third quarter. Franklin Resources Inc. now owns 801,589 shares of the information technology services provider’s stock worth $422,678,000 after purchasing an additional 25,315 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.