Gartner (NYSE:IT) Upgraded to “Buy” by StockNews.com

Gartner (NYSE:ITGet Rating) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Several other equities analysts also recently issued reports on IT. Wells Fargo & Company increased their price objective on shares of Gartner from $358.00 to $370.00 and gave the company an “overweight” rating in a report on Friday, January 13th. Robert W. Baird lifted their target price on shares of Gartner from $365.00 to $381.00 in a report on Wednesday, November 2nd. Morgan Stanley boosted their price objective on shares of Gartner from $339.00 to $342.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 4th. Jefferies Financial Group restated a “hold” rating and set a $300.00 target price on shares of Gartner in a research report on Tuesday, October 25th. Finally, The Goldman Sachs Group boosted their price objective on shares of Gartner from $348.00 to $391.00 and gave the stock a “buy” rating in a research report on Wednesday, November 2nd. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $342.38.

Gartner Stock Up 2.6 %

Gartner stock opened at $332.96 on Friday. Gartner has a twelve month low of $221.39 and a twelve month high of $358.25. The company’s 50-day moving average price is $338.96 and its 200-day moving average price is $305.48. The company has a market cap of $26.31 billion, a PE ratio of 35.88, a price-to-earnings-growth ratio of 2.88 and a beta of 1.35.

Gartner (NYSE:ITGet Rating) last announced its quarterly earnings results on Tuesday, November 1st. The information technology services provider reported $2.41 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.56. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Gartner had a net margin of 14.41% and a return on equity of 1,234.18%. As a group, sell-side analysts expect that Gartner will post 10.14 earnings per share for the current fiscal year.

Insider Activity at Gartner

In other news, EVP Alwyn Dawkins sold 800 shares of the stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $326.50, for a total transaction of $261,200.00. Following the sale, the executive vice president now owns 37,811 shares in the company, valued at $12,345,291.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Craig Safian sold 1,814 shares of the stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $318.66, for a total transaction of $578,049.24. Following the completion of the transaction, the chief financial officer now directly owns 57,030 shares in the company, valued at $18,173,179.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Alwyn Dawkins sold 800 shares of the firm’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $326.50, for a total value of $261,200.00. Following the completion of the transaction, the executive vice president now owns 37,811 shares of the company’s stock, valued at $12,345,291.50. The disclosure for this sale can be found here. Insiders have sold a total of 30,756 shares of company stock valued at $10,065,089 in the last 90 days. 3.70% of the stock is owned by corporate insiders.

Institutional Trading of Gartner

Several hedge funds have recently added to or reduced their stakes in the company. AdvisorNet Financial Inc increased its stake in shares of Gartner by 105.6% in the 4th quarter. AdvisorNet Financial Inc now owns 74 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 38 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of Gartner in the 3rd quarter valued at about $26,000. Lindbrook Capital LLC lifted its stake in shares of Gartner by 168.4% in the 2nd quarter. Lindbrook Capital LLC now owns 102 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 64 shares during the period. Altshuler Shaham Ltd acquired a new position in Gartner during the 3rd quarter worth approximately $31,000. Finally, Vienna Asset Management LLC acquired a new position in Gartner during the 3rd quarter worth approximately $33,000. 91.86% of the stock is owned by institutional investors and hedge funds.

Gartner Company Profile

(Get Rating)

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.

See Also

Analyst Recommendations for Gartner (NYSE:IT)

Receive News & Ratings for Gartner Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gartner and related companies with MarketBeat.com's FREE daily email newsletter.