Gartner (NYSE:IT) Hits New 12-Month High – What’s Next?

Gartner, Inc. (NYSE:IT)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $535.29 and last traded at $534.42, with a volume of 31856 shares traded. The stock had previously closed at $531.06.

Wall Street Analyst Weigh In

IT has been the subject of several recent research reports. UBS Group lifted their price target on Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Bank of America lifted their price target on Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Morgan Stanley lifted their price target on Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Finally, BMO Capital Markets lifted their price objective on Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $532.86.

Gartner Stock Performance

The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.90. The company has a 50 day simple moving average of $501.22 and a 200-day simple moving average of $468.13. The stock has a market cap of $41.23 billion, a P/E ratio of 52.83, a price-to-earnings-growth ratio of 3.23 and a beta of 1.32.

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

Insider Activity

In other news, CEO Eugene A. Hall sold 34,060 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $505.40, for a total value of $17,213,924.00. Following the completion of the sale, the chief executive officer now owns 1,143,401 shares of the company’s stock, valued at approximately $577,874,865.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Eugene A. Hall sold 12,082 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $504.84, for a total transaction of $6,099,476.88. Following the transaction, the chief executive officer now owns 1,143,389 shares in the company, valued at $577,228,502.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eugene A. Hall sold 34,060 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $505.40, for a total value of $17,213,924.00. Following the transaction, the chief executive officer now owns 1,143,401 shares in the company, valued at approximately $577,874,865.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,164 shares of company stock valued at $32,601,014. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Central Pacific Bank Trust Division purchased a new position in shares of Gartner during the 1st quarter worth approximately $36,000. Crewe Advisors LLC boosted its holdings in Gartner by 223.3% in the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock worth $44,000 after acquiring an additional 67 shares in the last quarter. J.Safra Asset Management Corp boosted its holdings in Gartner by 58.7% in the first quarter. J.Safra Asset Management Corp now owns 146 shares of the information technology services provider’s stock worth $70,000 after acquiring an additional 54 shares in the last quarter. Asset Dedication LLC boosted its holdings in Gartner by 46.5% in the third quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock worth $75,000 after acquiring an additional 47 shares in the last quarter. Finally, Rothschild Investment LLC bought a new stake in Gartner in the second quarter worth $94,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

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.