Gartner, Inc. (NYSE:IT) Given Consensus Recommendation of “Hold” by Brokerages

Gartner, Inc. (NYSE:IT) has been assigned an average recommendation of “Hold” from the five research firms that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $477.60.

A number of brokerages have recently issued reports on IT. Morgan Stanley boosted their target price on shares of Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. BMO Capital Markets boosted their target price on shares of Gartner from $444.00 to $450.00 and gave the company a “market perform” rating in a research note on Thursday, February 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of Gartner in a research note on Tuesday. They set a “hold” rating and a $507.00 target price for the company. UBS Group raised shares of Gartner from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $484.00 to $550.00 in a research note on Thursday, April 11th. Finally, StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th.

Insider Buying and Selling

In related news, EVP Valentin Sribar sold 682 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $453.00, for a total value of $308,946.00. Following the transaction, the executive vice president now owns 12,269 shares in the company, valued at approximately $5,557,857. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Valentin Sribar sold 682 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $453.00, for a total value of $308,946.00. Following the transaction, the executive vice president now owns 12,269 shares in the company, valued at approximately $5,557,857. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director James C. Smith sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $455.00, for a total transaction of $2,275,000.00. Following the completion of the transaction, the director now owns 638,235 shares in the company, valued at approximately $290,396,925. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,952 shares of company stock worth $10,598,070. 3.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Gartner

Several hedge funds have recently bought and sold shares of IT. Morgan Stanley lifted its position in shares of Gartner by 271.1% during the 4th quarter. Morgan Stanley now owns 2,151,011 shares of the information technology services provider’s stock valued at $723,041,000 after buying an additional 1,571,413 shares in the last quarter. Norges Bank purchased a new position in shares of Gartner during the 4th quarter valued at approximately $388,781,000. First Trust Advisors LP lifted its position in shares of Gartner by 830.4% during the 4th quarter. First Trust Advisors LP now owns 514,230 shares of the information technology services provider’s stock valued at $231,974,000 after buying an additional 458,963 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Gartner by 30.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,565,046 shares of the information technology services provider’s stock valued at $537,766,000 after buying an additional 364,128 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Gartner by 20.3% during 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 in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Trading Down 0.4 %

IT stock opened at $463.68 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.60. Gartner has a twelve month low of $292.60 and a twelve month high of $486.54. The stock has a market capitalization of $36.15 billion, a price-to-earnings ratio of 41.92, a price-to-earnings-growth ratio of 4.25 and a beta of 1.29. The firm’s fifty day simple moving average is $465.74 and its two-hundred day simple moving average is $432.79.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.21. Gartner had a net margin of 14.94% and a return on equity of 156.35%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the previous year, the business posted $3.70 earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. As a group, analysts anticipate that Gartner will post 11.36 earnings per share for the current year.

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.