Gartner (NYSE:IT) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Gartner (NYSE:IT) from a hold rating to a buy rating in a report released on Monday morning.

A number of other equities research analysts have also weighed in on the stock. Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $525.00 to $600.00 in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft raised their target price on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Robert W. Baird upped their price target on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Morgan Stanley dropped their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Finally, Wells Fargo & Company reduced their target price on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to MarketBeat, Gartner presently has an average rating of “Hold” and a consensus price target of $550.75.

Gartner Stock Performance

Shares of Gartner stock opened at $537.45 on Monday. The business has a 50-day simple moving average of $505.97 and a 200 day simple moving average of $502.00. The firm has a market capitalization of $41.46 billion, a price-to-earnings ratio of 39.63, a PEG ratio of 2.92 and a beta of 1.33. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02. Gartner has a one year low of $411.15 and a one year high of $559.00.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.05. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the firm earned $2.56 earnings per share. Gartner’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, research analysts anticipate that Gartner will post 11.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Claire Herkes sold 411 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 1,494 shares in the company, valued at $778,732.56. The trade was a 21.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William James Wartinbee III sold 189 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $523.54, for a total transaction of $98,949.06. Following the completion of the sale, the executive vice president now directly owns 7,311 shares in the company, valued at $3,827,600.94. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,583 shares of company stock valued at $19,241,974. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Eastern Bank bought a new position in Gartner in the third quarter worth $26,000. Ashton Thomas Securities LLC bought a new position in shares of Gartner during the 3rd quarter valued at $44,000. True Wealth Design LLC boosted its position in Gartner by 2,350.0% in the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after purchasing an additional 94 shares during the last quarter. Fortitude Family Office LLC boosted its holdings in shares of Gartner by 23.8% in the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after buying an additional 20 shares during the last quarter. Finally, Asset Dedication LLC grew its position in shares of Gartner by 46.5% during the 3rd quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock valued at $75,000 after acquiring an additional 47 shares during the period. 91.51% of the stock is 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.