Gartner, Inc. (NYSE:IT) Receives $304.00 Consensus Price Target from Analysts

Shares of Gartner, Inc. (NYSE:ITGet Rating) have earned an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $321.67.

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Gartner from $305.00 to $345.00 and gave the company an “overweight” rating in a research note on Wednesday. TheStreet cut shares of Gartner from a “b” rating to a “c+” rating in a research note on Tuesday, May 3rd. BMO Capital Markets cut their target price on shares of Gartner from $315.00 to $265.00 and set a “market perform” rating for the company in a research note on Tuesday, June 21st. Morgan Stanley boosted their price objective on shares of Gartner from $274.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Barclays boosted their price objective on shares of Gartner from $265.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Thursday.

Gartner Stock Up 0.7 %

Shares of IT opened at $295.44 on Wednesday. The stock has a market cap of $23.79 billion, a price-to-earnings ratio of 33.31 and a beta of 1.45. The company has a quick ratio of 0.70, a current ratio of 0.62 and a debt-to-equity ratio of 20.79. Gartner has a 12 month low of $221.39 and a 12 month high of $368.99. The company has a 50-day moving average price of $251.55 and a two-hundred day moving average price of $271.96.

Gartner (NYSE:ITGet Rating) last posted its earnings results on Tuesday, August 2nd. The information technology services provider reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.70. Gartner had a net margin of 14.42% and a return on equity of 497.67%. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the company posted $2.24 earnings per share. Gartner’s quarterly revenue was up 18.0% compared to the same quarter last year. Equities analysts predict that Gartner will post 8.7 EPS for the current fiscal year.

Gartner announced that its board has approved a share repurchase program on Tuesday, May 3rd that allows the company to buyback $500.00 million in shares. This buyback authorization allows the information technology services provider to reacquire up to 2.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Gartner news, CMO Kenneth Allard sold 1,345 shares of Gartner stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $290.55, for a total transaction of $390,789.75. Following the completion of the sale, the chief marketing officer now owns 3,074 shares of the company’s stock, valued at approximately $893,150.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Gartner news, CEO Eugene A. Hall sold 10,425 shares of Gartner stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $294.26, for a total transaction of $3,067,660.50. Following the completion of the sale, the chief executive officer now owns 1,167,041 shares of the company’s stock, valued at approximately $343,413,484.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Kenneth Allard sold 1,345 shares of Gartner stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $290.55, for a total transaction of $390,789.75. Following the sale, the chief marketing officer now directly owns 3,074 shares of the company’s stock, valued at approximately $893,150.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,951 shares of company stock valued at $5,188,596. Company insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Gartner

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Gartner by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 9,198,161 shares of the information technology services provider’s stock valued at $2,736,085,000 after buying an additional 102,709 shares during the period. BlackRock Inc. grew its holdings in shares of Gartner by 2.8% in the 1st quarter. BlackRock Inc. now owns 6,446,779 shares of the information technology services provider’s stock valued at $1,917,660,000 after buying an additional 173,532 shares during the period. State Street Corp grew its holdings in shares of Gartner by 2.1% in the 4th quarter. State Street Corp now owns 3,273,310 shares of the information technology services provider’s stock valued at $1,094,333,000 after buying an additional 68,873 shares during the period. Wellington Management Group LLP grew its holdings in shares of Gartner by 20.3% in the 1st quarter. Wellington Management Group LLP now owns 2,029,738 shares of the information technology services provider’s stock valued at $603,766,000 after buying an additional 342,228 shares during the period. Finally, Invesco Ltd. lifted its position in Gartner by 7.3% in the 1st quarter. Invesco Ltd. now owns 1,313,140 shares of the information technology services provider’s stock valued at $390,606,000 after acquiring an additional 89,707 shares in the last quarter. Institutional investors and hedge funds own 92.05% of the company’s stock.

Gartner Company Profile

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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.

Further Reading

Analyst Recommendations for Gartner (NYSE:IT)

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