Brokerages Set Gartner, Inc. (NYSE:IT) Target Price at $474.50

Shares of Gartner, Inc. (NYSE:IT) have been given an average recommendation of “Moderate Buy” by the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $474.50.

Several research firms recently weighed in on IT. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a research report on Saturday. UBS Group cut their price objective on Gartner from $550.00 to $510.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft began coverage on Gartner in a research report on Tuesday, April 16th. They set a “hold” rating and a $507.00 price objective for the company. Robert W. Baird cut their price target on Gartner from $536.00 to $517.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Finally, BMO Capital Markets reduced their price objective on Gartner from $450.00 to $432.00 and set a “market perform” rating for the company in a research report on Thursday, May 2nd.

Gartner Stock Performance

IT stock opened at $446.12 on Friday. The firm has a 50 day moving average of $438.95 and a two-hundred day moving average of $452.00. Gartner has a 12 month low of $323.61 and a 12 month high of $486.54. The company has a market capitalization of $34.63 billion, a price-to-earnings ratio of 44.39, a P/E/G ratio of 3.93 and a beta of 1.33. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.42.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.40. Gartner had a return on equity of 141.55% and a net margin of 13.35%. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the previous year, the firm earned $2.88 earnings per share. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, equities analysts anticipate that Gartner will post 11.55 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Yvonne Genovese sold 439 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $456.13, for a total transaction of $200,241.07. Following the completion of the sale, the executive vice president now directly owns 1,959 shares of the company’s stock, valued at $893,558.67. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director James C. Smith sold 10,000 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $455.20, for a total value of $4,552,000.00. Following the completion of the sale, the director now directly owns 608,369 shares of the company’s stock, valued at approximately $276,929,568.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Yvonne Genovese sold 439 shares of Gartner stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $456.13, for a total transaction of $200,241.07. Following the transaction, the executive vice president now directly owns 1,959 shares in the company, valued at approximately $893,558.67. The disclosure for this sale can be found here. Insiders sold a total of 22,544 shares of company stock worth $10,079,813 over the last three months. 3.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Gartner

Large investors have recently modified their holdings of the business. BKM Wealth Management LLC bought a new stake in Gartner in the 4th quarter valued at $26,000. MCF Advisors LLC bought a new stake in shares of Gartner in the fourth quarter valued at about $27,000. Frazier Financial Advisors LLC acquired a new position in shares of Gartner during the fourth quarter worth about $27,000. VisionPoint Advisory Group LLC grew its holdings in shares of Gartner by 254.2% during the third quarter. VisionPoint Advisory Group LLC now owns 85 shares of the information technology services provider’s stock worth $29,000 after buying an additional 61 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC raised its position in Gartner by 357.9% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 87 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 68 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Gartner Company Profile

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.