Gartner (NYSE:IT) Price Target Raised to $528.00

Gartner (NYSE:IT) had its target price boosted by equities research analysts at Morgan Stanley from $490.00 to $528.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the information technology services provider’s stock. Morgan Stanley’s price objective would suggest a potential upside of 1.41% from the company’s previous close.

A number of other research analysts also recently commented on IT. Wells Fargo & Company raised Gartner to a “strong sell” rating in a research note on Tuesday, August 13th. Bank of America boosted their target price on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. UBS Group boosted their target price on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Robert W. Baird boosted their target price on Gartner from $517.00 to $565.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $529.29.

Gartner Stock Up 1.4 %

IT stock opened at $520.68 on Thursday. The company has a market cap of $40.42 billion, a PE ratio of 51.81, a price-to-earnings-growth ratio of 3.21 and a beta of 1.32. The business has a 50-day simple moving average of $493.99 and a 200 day simple moving average of $465.60. Gartner has a 52 week low of $323.61 and a 52 week high of $521.64. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 3.80.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $3.02 by $0.20. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. Gartner’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.85 earnings per share. Sell-side analysts anticipate that Gartner will post 11.65 EPS for the current fiscal year.

Insider Transactions at Gartner

In other news, EVP Yvonne Genovese sold 443 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $483.62, for a total transaction of $214,243.66. Following the sale, the executive vice president now directly owns 1,959 shares in the company, valued at approximately $947,411.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Akhil Jain sold 400 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $485.00, for a total value of $194,000.00. Following the sale, the executive vice president now directly owns 4,839 shares in the company, valued at $2,346,915. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Yvonne Genovese sold 443 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $483.62, for a total value of $214,243.66. Following the completion of the sale, the executive vice president now owns 1,959 shares in the company, valued at $947,411.58. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,164 shares of company stock worth $32,601,014. Insiders own 3.60% of the company’s stock.

Institutional Trading of Gartner

Several institutional investors have recently added to or reduced their stakes in IT. Vanguard Group Inc. boosted its holdings in shares of Gartner by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 8,974,760 shares of the information technology services provider’s stock worth $4,277,999,000 after buying an additional 60,786 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Gartner by 22.0% during the 2nd quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock worth $852,014,000 after buying an additional 341,911 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Gartner by 12.0% during the 4th quarter. Wellington Management Group LLP now owns 1,852,820 shares of the information technology services provider’s stock worth $835,826,000 after buying an additional 198,274 shares in the last quarter. Findlay Park Partners LLP boosted its holdings in shares of Gartner by 5.7% during the 1st quarter. Findlay Park Partners LLP now owns 678,121 shares of the information technology services provider’s stock worth $323,240,000 after buying an additional 36,400 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in shares of Gartner by 1.3% during the 1st quarter. Bessemer Group Inc. now owns 609,945 shares of the information technology services provider’s stock worth $290,742,000 after buying an additional 7,852 shares in 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.