Brokerages Set Gartner, Inc. (NYSE:IT) Target Price at $552.63

Shares of Gartner, Inc. (NYSE:IT) have been assigned an average rating of “Hold” from the eight research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $552.63.

A number of analysts recently weighed in on IT shares. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th. Wells Fargo & Company decreased their price target on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research report on Friday, January 10th. Finally, Morgan Stanley decreased their price target on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th.

Insider Activity

In other news, SVP John J. Rinello sold 90 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the transaction, the senior vice president now owns 3,259 shares in the company, valued at $1,728,932.09. This represents a 2.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Claire Herkes sold 411 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total transaction of $214,229.64. Following the transaction, the executive vice president now owns 1,494 shares in the company, valued at approximately $778,732.56. This trade represents a 21.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,690 shares of company stock worth $2,981,025 over the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Gartner

Several hedge funds and other institutional investors have recently bought and sold shares of IT. Eastern Bank acquired a new position in Gartner in the 3rd quarter worth approximately $26,000. Kestra Investment Management LLC acquired a new position in Gartner in the 4th quarter worth approximately $29,000. Itau Unibanco Holding S.A. increased its holdings in Gartner by 453.3% in the 4th quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider’s stock worth $40,000 after buying an additional 68 shares during the period. Ashton Thomas Securities LLC acquired a new position in Gartner in the 3rd quarter worth approximately $44,000. Finally, SBI Securities Co. Ltd. acquired a new position in Gartner in the 4th quarter worth approximately $49,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Stock Down 0.4 %

NYSE:IT opened at $515.34 on Monday. Gartner has a 1-year low of $411.15 and a 1-year high of $584.01. The company has a 50-day moving average of $510.09 and a 200 day moving average of $508.44. The firm has a market cap of $39.75 billion, a PE ratio of 32.15, a price-to-earnings-growth ratio of 3.50 and a beta of 1.34. 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 (NYSE:IT) last released its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 136.32%. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same period in the prior year, the firm earned $3.04 earnings per share. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, research analysts anticipate that Gartner will post 12.5 EPS for the current fiscal year.

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.