Gartner, Inc. (IT) Receives $127.43 Average Target Price from Analysts
Gartner, Inc. (NYSE:IT) has received a consensus recommendation of “Buy” from the twelve research firms that are covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $124.63.
A number of research firms have commented on IT. Piper Jaffray Companies reiterated a “hold” rating and issued a $105.00 price target on shares of Gartner in a research note on Thursday. Zacks Investment Research upgraded Gartner from a “hold” rating to a “buy” rating and set a $142.00 price target for the company in a research note on Wednesday, July 19th. Credit Suisse Group restated an “outperform” rating and issued a $130.00 price objective (up from $124.00) on shares of Gartner in a research note on Friday, May 5th. BidaskClub cut Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Finally, Royal Bank Of Canada raised their price objective on Gartner from $124.00 to $130.00 and gave the stock a “top pick” rating in a research note on Friday, May 5th.
In related news, Director Karen E. Dykstra sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $120.61, for a total transaction of $301,525.00. Following the sale, the director now directly owns 18,223 shares of the company’s stock, valued at $2,197,876.03. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Alwyn Dawkins sold 1,000 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $118.62, for a total value of $118,620.00. Following the sale, the senior vice president now directly owns 27,137 shares in the company, valued at $3,218,990.94. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,376 shares of company stock valued at $2,177,873. Company insiders own 4.40% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Gartner by 5,309.2% in the first quarter. BlackRock Inc. now owns 8,174,829 shares of the information technology services provider’s stock valued at $882,800,000 after buying an additional 8,023,700 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Gartner by 1,426.9% in the second quarter. Janus Henderson Group PLC now owns 4,278,595 shares of the information technology services provider’s stock valued at $528,449,000 after buying an additional 3,998,373 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Gartner by 32.4% in the second quarter. Vanguard Group Inc. now owns 8,680,305 shares of the information technology services provider’s stock valued at $1,072,104,000 after buying an additional 2,125,783 shares during the last quarter. Janus Capital Management LLC raised its stake in shares of Gartner by 62.0% in the first quarter. Janus Capital Management LLC now owns 3,555,481 shares of the information technology services provider’s stock valued at $383,956,000 after buying an additional 1,360,165 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Gartner by 1,983.4% in the first quarter. Alliancebernstein L.P. now owns 1,329,202 shares of the information technology services provider’s stock valued at $143,541,000 after buying an additional 1,265,402 shares during the last quarter. 91.91% of the stock is currently owned by institutional investors.
Gartner (IT) traded up 0.17% during midday trading on Tuesday, reaching $120.79. The company had a trading volume of 439,045 shares. Gartner has a 1-year low of $84.54 and a 1-year high of $130.02. The company has a market capitalization of $10.94 billion, a P/E ratio of 248.03 and a beta of 1.05. The firm has a 50-day moving average of $123.35 and a 200 day moving average of $116.02.
Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, August 8th. The information technology services provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.05. Gartner had a return on equity of 103.10% and a net margin of 1.50%. The company had revenue of $843.73 million during the quarter, compared to analysts’ expectations of $892.64 million. During the same period last year, the business posted $0.75 earnings per share. The firm’s revenue was up 38.3% compared to the same quarter last year. On average, equities research analysts forecast that Gartner will post $3.41 EPS for the current year.
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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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