Gartner (NYSE:IT) Given New $460.00 Price Target at Wells Fargo & Company

Gartner (NYSE:IT) had its target price boosted by equities research analysts at Wells Fargo & Company from $435.00 to $460.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “underweight” rating on the information technology services provider’s stock. Wells Fargo & Company‘s target price would suggest a potential downside of 12.32% from the stock’s previous close.

Several other analysts have also issued reports on IT. UBS Group boosted their price target on shares of Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Bank of America boosted their price objective on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Robert W. Baird boosted their price objective on shares of Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. BMO Capital Markets boosted their price objective on shares of Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. Finally, StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $532.86.

Gartner Stock Performance

IT stock traded up $3.44 during mid-day trading on Monday, hitting $524.66. The company had a trading volume of 5,649 shares, compared to its average volume of 375,254. The firm has a market cap of $40.73 billion, a PE ratio of 52.24, a price-to-earnings-growth ratio of 3.23 and a beta of 1.32. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90. Gartner has a 12 month low of $323.61 and a 12 month high of $525.00. The stock’s fifty day moving average price is $495.34 and its two-hundred day moving average price is $466.13.

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

Insiders Place Their Bets

In other Gartner news, EVP Claire Herkes sold 478 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $506.01, for a total value of $241,872.78. Following the completion of the transaction, the executive vice president now owns 1,905 shares of the company’s stock, valued at $963,949.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Alwyn Dawkins sold 1,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $505.49, for a total value of $505,490.00. Following the completion of the sale, the executive vice president now owns 56,650 shares of the company’s stock, valued at approximately $28,636,008.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Claire Herkes sold 478 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $506.01, for a total transaction of $241,872.78. Following the completion of the sale, the executive vice president now directly owns 1,905 shares of the company’s stock, valued at $963,949.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,164 shares of company stock valued at $32,601,014 in the last quarter. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Gartner

A number of institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. raised its holdings in Gartner by 11.4% during the 1st quarter. Russell Investments Group Ltd. now owns 25,063 shares of the information technology services provider’s stock valued at $11,987,000 after buying an additional 2,560 shares during the last quarter. Transcend Capital Advisors LLC bought a new stake in Gartner during the 2nd quarter valued at $512,000. Tidal Investments LLC raised its holdings in Gartner by 24.4% during the 1st quarter. Tidal Investments LLC now owns 9,890 shares of the information technology services provider’s stock valued at $4,717,000 after buying an additional 1,940 shares during the last quarter. Findlay Park Partners LLP raised its holdings in 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 valued at $323,240,000 after buying an additional 36,400 shares during the last quarter. Finally, Magnetar Financial LLC bought a new stake in Gartner during the 1st quarter valued at $1,049,000. 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.