Barclays Forecasts Strong Price Appreciation for Gartner (NYSE:IT) Stock

Gartner (NYSE:IT) had its price target upped by Barclays from $470.00 to $525.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the information technology services provider’s stock.

IT has been the subject of several other research reports. Bank of America upped their price target on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. 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 research note on Wednesday. BMO Capital Markets increased their price objective 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. Morgan Stanley boosted their price objective on shares of Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Company upped their price target on shares of Gartner from $435.00 to $460.00 and gave the company an “underweight” rating in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $539.25.

Gartner Trading Up 0.5 %

IT traded up $2.51 during trading on Wednesday, reaching $539.41. The company had a trading volume of 45,316 shares, compared to its average volume of 367,282. 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 company has a market cap of $41.57 billion, a price-to-earnings ratio of 51.13, a PEG ratio of 3.14 and a beta of 1.32. Gartner has a 12-month low of $396.60 and a 12-month high of $542.13. The firm’s 50-day simple moving average is $510.44 and its 200 day simple moving average is $473.06.

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

Insider Buying and Selling at Gartner

In other Gartner news, EVP Akhil Jain sold 400 shares of the company’s stock in a transaction dated 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 owns 4,839 shares in the company, valued at approximately $2,346,915. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Eugene A. Hall sold 34,060 shares of the company’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 completion of the transaction, the chief executive officer now owns 1,143,401 shares in the company, valued at approximately $577,874,865.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Akhil Jain sold 400 shares of Gartner stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $485.00, for a total value of $194,000.00. Following the completion of the sale, the executive vice president now directly owns 4,839 shares in the company, valued at approximately $2,346,915. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,899 shares of company stock valued at $24,959,886 in the last quarter. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IT. Fortitude Family Office LLC raised its holdings in Gartner by 23.8% during the 3rd 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 period. Moors & Cabot Inc. grew its stake in Gartner by 3.0% in the second quarter. Moors & Cabot Inc. now owns 763 shares of the information technology services provider’s stock worth $343,000 after purchasing an additional 22 shares in the last quarter. TIAA Trust National Association raised its position in Gartner by 3.2% during the 1st quarter. TIAA Trust National Association now owns 744 shares of the information technology services provider’s stock valued at $355,000 after purchasing an additional 23 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of Gartner by 2.2% in the 2nd quarter. Mather Group LLC. now owns 1,079 shares of the information technology services provider’s stock worth $514,000 after buying an additional 23 shares during the period. Finally, Wallace Advisory Group LLC raised its holdings in shares of Gartner by 2.4% in the second quarter. Wallace Advisory Group LLC now owns 980 shares of the information technology services provider’s stock valued at $440,000 after acquiring an additional 23 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

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.