Gartner, Inc. (IT) Rating Reiterated by Cantor Fitzgerald
Gartner, Inc. (NYSE:IT)‘s stock had its “buy” rating reaffirmed by investment analysts at Cantor Fitzgerald in a research report issued to clients and investors on Thursday. They presently have a $139.00 price objective on the information technology services provider’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 17.14% from the company’s previous close.
The analysts wrote, “3Q17 revenue and earnings top estimates. Total revenue was $891.7 mn, up 55.3% y/y (+14% organic cc), vs. our estimate of $871.8 mn and the $868.6 mn FactSet consensus. Research revenue was $653.4 mn, up 40.0% y/y (+16% organic cc). Consulting revenue was $72.1 mn, down -2.2% y/y (-3% y/y organic cc). Events revenue was $45.0 mn, up 34.3% y/y (+22% organic cc). New Talent Assessment & Other segment revenues were $57.6 mn. The deferred revenue fair value assessment was $63.7 mn. Non-GAAP EPS was $0.65, vs. our estimate of $0.51 and the consensus of $0.52. Our performance table is on p.””
A number of other research analysts have also recently commented on the company. Zacks Investment Research raised Gartner from a “hold” rating to a “buy” rating and set a $139.00 target price on the stock in a research note on Monday, October 16th. Royal Bank Of Canada reissued a “top pick” rating and issued a $142.00 target price (up previously from $130.00) on shares of Gartner in a research note on Friday, July 21st. TheStreet cut Gartner from a “b” rating to a “c+” rating in a research note on Tuesday, August 8th. Piper Jaffray Companies reissued a “hold” rating and issued a $105.00 target price on shares of Gartner in a research note on Thursday, August 31st. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $138.00 target price (up previously from $130.00) on shares of Gartner in a research note on Wednesday, August 9th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $129.50.
Gartner (NYSE:IT) traded down $6.94 during trading on Thursday, hitting $118.66. 833,633 shares of the stock traded hands, compared to its average volume of 659,656. The stock has a market cap of $10,750.24, a P/E ratio of 38.28, a PEG ratio of 2.17 and a beta of 1.08. The company has a debt-to-equity ratio of 3.68, a current ratio of 0.78 and a quick ratio of 0.78.
Gartner (NYSE:IT) last released its quarterly earnings results on Thursday, November 2nd. The information technology services provider reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.13. The firm had revenue of $828.09 million for the quarter, compared to analysts’ expectations of $826.09 million. Gartner had a negative net margin of 1.25% and a positive return on equity of 79.86%. The business’s quarterly revenue was up 44.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.58 earnings per share. research analysts expect that Gartner will post 3.42 earnings per share for the current fiscal year.
In other Gartner news, SVP Robin B. Kranich sold 7,487 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $120.08, for a total transaction of $899,038.96. Following the completion of the sale, the senior vice president now directly owns 21,298 shares in the company, valued at $2,557,463.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Alwyn Dawkins sold 1,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $118.62, for a total transaction of $118,620.00. Following the sale, the senior vice president now owns 27,137 shares of the company’s stock, valued at $3,218,990.94. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,363 shares of company stock valued at $2,775,387. Company insiders own 4.30% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisory Services Network LLC boosted its position in Gartner by 466.7% during the second quarter. Advisory Services Network LLC now owns 969 shares of the information technology services provider’s stock valued at $120,000 after buying an additional 798 shares during the period. Benjamin F. Edwards & Company Inc. purchased a new stake in Gartner during the second quarter valued at about $124,000. Bronfman E.L. Rothschild L.P. boosted its position in Gartner by 9.5% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,182 shares of the information technology services provider’s stock valued at $146,000 after buying an additional 103 shares during the period. Commonwealth Bank of Australia boosted its position in Gartner by 20.0% during the second quarter. Commonwealth Bank of Australia now owns 1,200 shares of the information technology services provider’s stock valued at $148,000 after buying an additional 200 shares during the period. Finally, Parkwood LLC purchased a new stake in Gartner during the third quarter valued at about $201,000. Institutional investors and hedge funds own 92.14% 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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