Gartner (NYSE:IT) Price Target Raised to $525.00 at Barclays

Gartner (NYSE:IT) had its price target hoisted by analysts at Barclays from $470.00 to $525.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the information technology services provider’s stock. Barclays‘s price objective points to a potential downside of 2.21% from the company’s previous close.

A number of other brokerages have also recently issued reports on IT. Wells Fargo & Company increased their target price on shares of Gartner from $435.00 to $460.00 and gave the stock an “underweight” rating in a research report on Monday, October 14th. Morgan Stanley increased their price objective on shares of Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Robert W. Baird increased their price objective on shares of Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, BMO Capital Markets raised their target price on shares of Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $535.00.

Gartner Price Performance

Shares of IT stock traded up $23.40 during mid-day trading on Wednesday, reaching $536.88. The company’s stock had a trading volume of 2,276 shares, compared to its average volume of 366,475. Gartner has a 1-year low of $392.49 and a 1-year high of $542.13. The company has a market cap of $41.37 billion, a P/E ratio of 51.13, a PEG ratio of 3.13 and a beta of 1.32. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90. The firm’s 50-day moving average is $509.34 and its two-hundred day moving average is $472.61.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the company posted $2.56 EPS. The business’s revenue was up 5.4% on a year-over-year basis. On average, research analysts predict that Gartner will post 11.65 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Akhil Jain sold 400 shares of Gartner stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $485.00, for a total value of $194,000.00. Following the sale, the executive vice president now directly owns 4,839 shares in the company, valued at $2,346,915. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Eugene A. Hall sold 34,060 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the transaction, the chief executive officer now directly owns 1,143,401 shares in the company, valued at approximately $577,874,865.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Akhil Jain sold 400 shares of Gartner stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $485.00, for a total transaction of $194,000.00. Following the transaction, the executive vice president now directly owns 4,839 shares of the company’s stock, valued at approximately $2,346,915. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,899 shares of company stock valued at $24,959,886 in the last 90 days. 3.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Gartner

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Eastern Bank acquired a new position in Gartner in the third quarter valued at about $26,000. Central Pacific Bank Trust Division acquired a new position in Gartner during the first quarter worth about $36,000. Ashton Thomas Securities LLC acquired a new position in Gartner during the third quarter worth about $44,000. Crewe Advisors LLC raised its stake 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 acquiring an additional 67 shares in the last quarter. Finally, Fortitude Family Office LLC raised its stake in Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after acquiring an additional 20 shares in the last quarter. 91.51% of the stock is 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.