Analysts’ Weekly Ratings Updates for Gartner (IT)
Several analysts have recently updated their ratings and price targets for Gartner (NYSE: IT):
- 8/9/2017 – Gartner had its “outperform” rating reaffirmed by analysts at Credit Suisse Group. They now have a $138.00 price target on the stock, up previously from $130.00.
- 8/9/2017 – Gartner was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
- 8/8/2017 – Gartner was downgraded by analysts at TheStreet from a “b” rating to a “c+” rating.
- 7/21/2017 – Gartner had its “top pick” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $142.00 price target on the stock, up previously from $130.00.
- 7/19/2017 – Gartner was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $142.00 price target on the stock. According to Zacks, “Gartner offers rich domain expertise and technology-related insight through its research reports and deliveries for informed decision-making process. The company offers timely, thought-provoking and comprehensive analysis that is known for its high quality, independence and objectivity. Its comprehensive services portfolio has enabled customers across the spectrum to research, analyze and interpret the business with greater precision, efficiency, and discipline, thereby saving huge operating costs. With a diligent execution of operational plans, Gartner has recorded double-digit growth in key metrics for over a decade. The acquisition of CEB further reinforces Gartner’s market strength and is likely to be accretive in the future. The company has also outperformed the industry year to date. However, Gartner has to continually invest in value drivers to fend off competition that increase its operating costs and contract margins.”
- 7/11/2017 – Gartner was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Gartner, Inc. is a research and advisory firm that helps clients understand technology and drive business growth. Gartner’s divisions consist of Gartner Research, Gartner Consulting, Gartner Measurement and Gartner Events. Gartner has the most comprehensive body of global research that reports on and analyzes the technologies that drive business and organizational success. Gartner Consulting leverages the company’s industry-leading research capabilities to deliver hands-on client support, from strategy to measurable results. “
Gartner, Inc. (NYSE IT) opened at 117.11 on Friday. The firm has a market capitalization of $10.61 billion, a price-to-earnings ratio of 240.47 and a beta of 1.05. The firm has a 50-day moving average of $125.75 and a 200-day moving average of $113.99. Gartner, Inc. has a 52-week low of $84.54 and a 52-week high of $130.02.
Gartner (NYSE:IT) last released its earnings results on Tuesday, August 8th. The information technology services provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.83 by $0.05. Gartner had a net margin of 1.50% and a return on equity of 103.10%. The firm had revenue of $843.73 million for the quarter, compared to analyst estimates of $892.64 million. During the same period last year, the firm earned $0.75 EPS. The business’s quarterly revenue was up 38.3% compared to the same quarter last year. On average, equities research analysts forecast that Gartner, Inc. will post $3.44 EPS for the current fiscal year.
In other news, SVP Peter Sondergaard sold 4,172 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $111.90, for a total value of $466,846.80. Following the sale, the senior vice president now directly owns 93,765 shares in the company, valued at approximately $10,492,303.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Karen E. Dykstra sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $120.61, for a total transaction of $301,525.00. Following the completion of the sale, the director now owns 18,223 shares in the company, valued at $2,197,876.03. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,297 shares of company stock worth $5,793,254. Insiders own 4.40% of the company’s stock.
Gartner, Inc is an information technology research and advisory company. The Company works with clients to research, analyze and interpret the business of information technology (IT), supply chain and marketing within the context of their individual roles. It operates in three segments: Research, Consulting and Events.
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