Gartner, Inc. (NYSE:IT) Receives Consensus Rating of “Hold” from Analysts

Shares of Gartner, Inc. (NYSE:IT) have been assigned an average rating of “Hold” from the nine ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $518.67.

Several equities analysts have weighed in on the company. Wells Fargo & Company dropped their price target on Gartner from $401.00 to $400.00 and set an “underweight” rating for the company in a research report on Thursday, May 1st. Barclays cut their target price on shares of Gartner from $510.00 to $475.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Wall Street Zen cut shares of Gartner from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Robert W. Baird cut their price objective on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Finally, UBS Group raised their price target on Gartner from $500.00 to $525.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th.

Insider Transactions at Gartner

In related news, EVP William James Wartinbee III sold 538 shares of Gartner stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $449.09, for a total value of $241,610.42. Following the completion of the sale, the executive vice president now owns 7,965 shares in the company, valued at approximately $3,577,001.85. The trade was a 6.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John J. Rinello sold 109 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $436.35, for a total transaction of $47,562.15. Following the transaction, the senior vice president now owns 3,280 shares in the company, valued at $1,431,228. This trade represents a 3.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,426 shares of company stock valued at $2,430,327 over the last quarter. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Gartner

A number of institutional investors have recently modified their holdings of IT. Norges Bank bought a new stake in shares of Gartner in the 4th quarter valued at approximately $460,541,000. T. Rowe Price Investment Management Inc. increased its stake in Gartner by 692.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,066,732 shares of the information technology services provider’s stock valued at $447,751,000 after purchasing an additional 932,077 shares during the last quarter. Madison Investment Advisors LLC acquired a new stake in shares of Gartner during the fourth quarter worth $244,799,000. GAMMA Investing LLC raised its holdings in shares of Gartner by 40,841.0% during the first quarter. GAMMA Investing LLC now owns 499,071 shares of the information technology services provider’s stock worth $209,480,000 after purchasing an additional 497,852 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Gartner in the 4th quarter worth about $165,476,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Price Performance

Shares of NYSE:IT opened at $404.55 on Friday. The firm has a market capitalization of $31.14 billion, a price-to-earnings ratio of 25.24, a price-to-earnings-growth ratio of 3.30 and a beta of 1.23. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. The business’s 50 day simple moving average is $423.28 and its 200-day simple moving average is $466.54. Gartner has a 12 month low of $366.05 and a 12 month high of $584.01.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.72 by $0.26. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the business earned $2.93 earnings per share. Gartner’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, equities analysts forecast that Gartner will post 12.5 earnings per share for the current fiscal year.

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.