Gartner, Inc. (NYSE:IT) Given Consensus Rating of “Moderate Buy” by Brokerages

Gartner, Inc. (NYSE:ITGet Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $474.50.

A number of analysts recently weighed in on IT shares. Deutsche Bank Aktiengesellschaft assumed coverage on Gartner in a research note on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price target on the stock. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, May 29th. Morgan Stanley boosted their price objective on shares of Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. BMO Capital Markets dropped their target price on shares of Gartner from $450.00 to $432.00 and set a “market perform” rating for the company in a report on Thursday, May 2nd. Finally, UBS Group decreased their price target on Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st.

Read Our Latest Analysis on IT

Insider Transactions at Gartner

In related news, Director James C. Smith sold 5,000 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $470.09, for a total transaction of $2,350,450.00. Following the sale, the director now owns 618,235 shares of the company’s stock, valued at $290,626,091.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director James C. Smith sold 10,000 shares of Gartner stock in a transaction on Monday, May 20th. The stock was sold at an average price of $455.20, for a total value of $4,552,000.00. Following the completion of the sale, the director now owns 608,369 shares of the company’s stock, valued at $276,929,568.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James C. Smith sold 5,000 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $470.09, for a total value of $2,350,450.00. Following the completion of the transaction, the director now owns 618,235 shares of the company’s stock, valued at $290,626,091.15. The disclosure for this sale can be found here. Insiders sold a total of 18,299 shares of company stock valued at $8,429,535 in the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Gartner

A number of large investors have recently bought and sold shares of IT. Norges Bank purchased a new position in Gartner during the fourth quarter worth approximately $388,781,000. First Trust Advisors LP raised its stake in shares of Gartner by 830.4% in 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 acquiring an additional 458,963 shares during the period. American Century Companies Inc. raised its stake in shares of Gartner by 888.4% in the 3rd quarter. American Century Companies Inc. now owns 300,106 shares of the information technology services provider’s stock valued at $103,119,000 after acquiring an additional 269,744 shares during the period. Eagle Asset Management Inc. purchased a new position in shares of Gartner in the 3rd quarter valued at $83,588,000. Finally, Wellington Management Group LLP raised its stake in shares of Gartner by 12.0% in the 4th quarter. Wellington Management Group LLP now owns 1,852,820 shares of the information technology services provider’s stock valued at $835,826,000 after acquiring an additional 198,274 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Stock Up 1.0 %

IT stock opened at $428.12 on Wednesday. The company has a fifty day moving average price of $448.87 and a 200 day moving average price of $451.64. Gartner has a 12 month low of $323.61 and a 12 month high of $486.54. The company has a market cap of $33.23 billion, a price-to-earnings ratio of 42.60, a price-to-earnings-growth ratio of 3.67 and a beta of 1.32. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.91 and a quick ratio of 0.91.

Gartner (NYSE:ITGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 EPS for the quarter, beating the consensus estimate of $2.53 by $0.40. Gartner had a net margin of 13.35% and a return on equity of 141.55%. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the prior year, the firm earned $2.88 EPS. Gartner’s revenue for the quarter was up 4.5% on a year-over-year basis. Sell-side analysts expect that Gartner will post 11.55 earnings per share for the current year.

About Gartner

(Get Free Report

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.

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