Wolfe Research Initiates Coverage on Gartner (NYSE:IT)

Equities research analysts at Wolfe Research initiated coverage on shares of Gartner (NYSE:IT) in a note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage set a “peer perform” rating on the information technology services provider’s stock.

IT has been the topic of several other reports. Morgan Stanley lowered their target price on shares of Gartner from $455.00 to $322.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 6th. The Goldman Sachs Group dropped their price objective on Gartner from $535.00 to $457.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Wells Fargo & Company reduced their target price on Gartner from $345.00 to $225.00 and set an “underweight” rating for the company in a research note on Wednesday, August 6th. UBS Group reissued a “neutral” rating and issued a $270.00 price target (down previously from $480.00) on shares of Gartner in a research note on Wednesday, August 6th. Finally, Barclays reduced their price objective on shares of Gartner from $475.00 to $320.00 and set an “overweight” rating for the company in a research report on Wednesday, August 6th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $369.25.

Gartner Price Performance

IT opened at $236.58 on Wednesday. The firm has a market capitalization of $17.92 billion, a PE ratio of 14.56 and a beta of 1.20. The business’s 50-day moving average is $311.33 and its two-hundred day moving average is $391.13. Gartner has a 1 year low of $223.65 and a 1 year high of $584.01. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.11 and a quick ratio of 1.11.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, August 5th. The information technology services provider reported $3.53 EPS for the quarter, beating the consensus estimate of $3.38 by $0.15. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. Gartner had a return on equity of 82.63% and a net margin of 19.71%.The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.22 EPS. Gartner has set its FY 2025 guidance at 11.750- EPS. Research analysts anticipate that Gartner will post 12.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jose M. Gutierrez bought 417 shares of the stock in a transaction on Monday, August 18th. The stock was bought at an average price of $239.80 per share, with a total value of $99,996.60. Following the completion of the purchase, the director directly owned 2,080 shares in the company, valued at $498,784. This represents a 25.08% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP John J. Rinello sold 105 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $249.71, for a total transaction of $26,219.55. Following the transaction, the senior vice president directly owned 3,225 shares of the company’s stock, valued at $805,314.75. The trade was a 3.15% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Gartner

Institutional investors have recently modified their holdings of the company. Cary Street Partners Financial LLC purchased a new position in shares of Gartner in the 4th quarter valued at about $27,000. Addison Advisors LLC acquired a new stake in Gartner during the second quarter worth approximately $27,000. Ransom Advisory Ltd purchased a new stake in shares of Gartner during the 1st quarter worth approximately $29,000. Olde Wealth Management LLC acquired a new position in shares of Gartner in the 1st quarter valued at $42,000. Finally, Chilton Capital Management LLC purchased a new position in Gartner during the 2nd quarter worth approximately $47,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Company Profile

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.