Barclays Issues Positive Forecast for Gartner (NYSE:IT) Stock Price

Gartner (NYSE:IT) had its price objective raised by Barclays from $470.00 to $525.00 in a report published on Wednesday morning,Benzinga reports. Barclays currently has an equal weight rating on the information technology services provider’s stock.

Several other brokerages also recently issued reports on IT. Robert W. Baird increased their price target on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a report on Wednesday. Bank of America increased their price objective on shares of Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets raised their target price on Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Morgan Stanley boosted their target price on shares of Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Finally, UBS Group increased their price objective on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $539.25.

Gartner Stock Up 0.5 %

NYSE:IT traded up $2.51 during mid-day trading on Wednesday, hitting $539.41. The stock had a trading volume of 45,316 shares, compared to its average volume of 367,282. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 3.80. Gartner has a twelve month low of $396.60 and a twelve month high of $542.13. The company has a market capitalization of $41.57 billion, a PE ratio of 51.13, a PEG ratio of 3.14 and a beta of 1.32. The stock has a 50-day simple moving average of $510.44 and a two-hundred day simple moving average of $473.06.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.48 billion. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.56 earnings per share. On average, equities research analysts anticipate that Gartner will post 11.65 EPS for the current year.

Insider Activity

In related news, EVP Akhil Jain sold 400 shares of Gartner stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $485.00, for a total value of $194,000.00. Following the sale, the executive vice president now owns 4,839 shares in the company, valued at $2,346,915. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Akhil Jain sold 400 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $485.00, for a total transaction of $194,000.00. Following the sale, the executive vice president now owns 4,839 shares in the company, valued at approximately $2,346,915. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Eugene A. Hall sold 34,060 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,899 shares of company stock worth $24,959,886. 3.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Gartner

Several institutional investors and hedge funds have recently modified their holdings of IT. Russell Investments Group Ltd. lifted its position in Gartner by 11.4% in the first quarter. Russell Investments Group Ltd. now owns 25,063 shares of the information technology services provider’s stock valued at $11,987,000 after acquiring an additional 2,560 shares during the last quarter. Transcend Capital Advisors LLC acquired a new stake in shares of Gartner during the second quarter valued at $512,000. Tidal Investments LLC raised its position in shares of Gartner by 24.4% in the first 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. Magnetar Financial LLC purchased a new position in shares of Gartner during the 1st quarter worth $1,049,000. Finally, Vident Advisory LLC increased its stake in shares of Gartner by 543.2% during the 1st quarter. Vident Advisory LLC now owns 9,178 shares of the information technology services provider’s stock valued at $4,375,000 after acquiring an additional 7,751 shares during the last quarter. 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.