Gartner, Inc. (NYSE:IT) Receives $539.25 Average Price Target from Analysts

Shares of Gartner, Inc. (NYSE:IT) have been given an average recommendation of “Hold” by the eight research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $539.25.

IT has been the subject of a number of recent analyst reports. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Robert W. Baird lifted their price target on shares of Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Barclays lifted their target price on Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Finally, Morgan Stanley increased their price target on Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th.

Gartner Trading Down 0.3 %

Shares of NYSE IT opened at $515.56 on Wednesday. The company’s 50 day simple moving average is $521.12 and its 200 day simple moving average is $485.23. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02. Gartner has a fifty-two week low of $411.15 and a fifty-two week high of $559.00. The firm has a market capitalization of $39.77 billion, a P/E ratio of 38.02, a P/E/G ratio of 3.23 and a beta of 1.31.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.05. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the company earned $2.56 EPS. On average, analysts predict that Gartner will post 11.89 EPS for the current year.

Insider Buying and Selling

In other news, Director James C. Smith sold 2,128 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $500.15, for a total value of $1,064,319.20. Following the completion of the transaction, the director now owns 572,090 shares in the company, valued at $286,130,813.50. This trade represents a 0.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Akhil Jain sold 500 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $492.00, for a total value of $246,000.00. Following the sale, the executive vice president now owns 4,339 shares in the company, valued at $2,134,788. The trade was a 10.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,560 shares of company stock worth $37,909,141. 3.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IT. Eastern Bank acquired a new position in shares of Gartner during the 3rd quarter worth about $26,000. Crewe Advisors LLC grew its holdings in Gartner by 223.3% during the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock worth $44,000 after purchasing an additional 67 shares during the period. Ashton Thomas Securities LLC acquired a new position in Gartner during the third quarter worth approximately $44,000. True Wealth Design LLC raised its stake in Gartner by 2,350.0% in the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock valued at $50,000 after buying an additional 94 shares during the period. Finally, Fortitude Family Office LLC lifted its position in shares of Gartner by 23.8% in the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after buying an additional 20 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

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.