Gartner, Inc. (NYSE:IT) Given Consensus Recommendation of “Hold” by Brokerages

Gartner, Inc. (NYSE:IT) has been given a consensus rating of “Hold” by the eight research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $550.75.

Several equities analysts have commented on IT shares. Robert W. Baird upped their price target on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $525.00 to $600.00 in a research report on Friday, January 10th. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company decreased their target price on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research report on Friday, January 10th.

Gartner Trading Up 0.8 %

Shares of IT stock opened at $516.34 on Thursday. The firm has a market capitalization of $39.83 billion, a P/E ratio of 38.08, a price-to-earnings-growth ratio of 2.72 and a beta of 1.33. Gartner has a 1 year low of $411.15 and a 1 year high of $559.00. The firm’s fifty day simple moving average is $506.84 and its 200 day simple moving average is $499.22. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.05. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.56 EPS. As a group, sell-side analysts predict that Gartner will post 11.87 EPS for the current year.

Insider Activity at Gartner

In other Gartner news, Director James C. Smith sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $535.76, for a total value of $5,357,600.00. Following the transaction, the director now owns 554,274 shares of the company’s stock, valued at approximately $296,957,838.24. The trade was a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Claire Herkes sold 411 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $521.24, for a total value of $214,229.64. Following the sale, the executive vice president now owns 1,494 shares in the company, valued at $778,732.56. The trade was a 21.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,583 shares of company stock valued at $19,241,974 in the last ninety days. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Gartner

A number of large investors have recently modified their holdings of IT. SG Americas Securities LLC raised its position in shares of Gartner by 885.9% during the fourth quarter. SG Americas Securities LLC now owns 40,905 shares of the information technology services provider’s stock worth $19,817,000 after acquiring an additional 36,756 shares during the last quarter. Dakota Wealth Management increased its position in Gartner by 3.1% in the fourth quarter. Dakota Wealth Management now owns 11,776 shares of the information technology services provider’s stock worth $5,705,000 after purchasing an additional 355 shares during the period. Atomi Financial Group Inc. raised its holdings in Gartner by 23.6% during the 4th quarter. Atomi Financial Group Inc. now owns 565 shares of the information technology services provider’s stock worth $274,000 after purchasing an additional 108 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in Gartner by 101.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 8,646 shares of the information technology services provider’s stock valued at $4,189,000 after purchasing an additional 4,361 shares during the period. Finally, Ballentine Partners LLC lifted its position in Gartner by 10.8% during the 4th quarter. Ballentine Partners LLC now owns 473 shares of the information technology services provider’s stock valued at $229,000 after purchasing an additional 46 shares during the period. 91.51% of the stock is currently 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.