Gartner (NYSE:IT) Price Target Raised to $470.00

Gartner (NYSE:IT) had its target price upped by equities research analysts at Wells Fargo & Company from $460.00 to $470.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “underweight” rating on the information technology services provider’s stock. Wells Fargo & Company‘s price objective indicates a potential downside of 11.17% from the company’s current price.

IT has been the topic of several other reports. 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 report on Wednesday. UBS Group upped their price target on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. BMO Capital Markets increased their target price on Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Finally, Bank of America lifted their target price on Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $539.25.

Gartner Trading Up 3.0 %

Shares of IT stock traded up $15.65 during trading on Wednesday, hitting $529.13. 91,670 shares of the stock traded hands, compared to its average volume of 366,859. Gartner has a 52-week low of $392.49 and a 52-week high of $542.13. The firm has a market capitalization of $40.77 billion, a P/E ratio of 50.55, a price-to-earnings-growth ratio of 3.13 and a beta of 1.32. The firm’s fifty day moving average price is $509.34 and its 200-day moving average price is $472.61. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.90.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.45 by $0.05. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.48 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.56 EPS. As a group, research analysts forecast that Gartner will post 11.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Gartner news, CEO Eugene A. Hall sold 34,060 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 1,143,401 shares of the company’s stock, valued at approximately $577,874,865.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Gartner news, CEO Eugene A. Hall sold 34,060 shares of Gartner stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the completion of the sale, the chief executive officer now directly owns 1,143,401 shares of the company’s stock, valued at $577,874,865.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Craig Safian sold 6,310 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $483.57, for a total value of $3,051,326.70. Following the completion of the transaction, the chief financial officer now owns 71,544 shares in the company, valued at approximately $34,596,532.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,899 shares of company stock worth $24,959,886. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Janney Montgomery Scott LLC increased its position in Gartner by 0.5% during the first quarter. Janney Montgomery Scott LLC now owns 11,273 shares of the information technology services provider’s stock worth $5,374,000 after buying an additional 59 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Gartner by 4.3% in the first quarter. Nordea Investment Management AB now owns 6,370 shares of the information technology services provider’s stock valued at $3,075,000 after acquiring an additional 260 shares during the period. Whittier Trust Co. grew its position in shares of Gartner by 43.5% during the first quarter. Whittier Trust Co. now owns 432 shares of the information technology services provider’s stock worth $206,000 after acquiring an additional 131 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in Gartner in the 1st quarter valued at $36,000. Finally, GSA Capital Partners LLP acquired a new stake in Gartner during the 1st quarter worth $1,121,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

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.