Gartner (NYSE:IT) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Gartner (NYSE:IT) from a hold rating to a buy rating in a report published on Tuesday morning.

Other research analysts have also issued reports about the company. Robert W. Baird lowered their price objective on Gartner from $536.00 to $517.00 and set an outperform rating for the company in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft initiated coverage on Gartner in a report on Tuesday, April 16th. They issued a hold rating and a $507.00 target price for the company. UBS Group reduced their price objective on shares of Gartner from $550.00 to $510.00 and set a buy rating for the company in a research report on Wednesday, May 1st. Finally, BMO Capital Markets lowered their price objective on shares of Gartner from $450.00 to $432.00 and set a market perform rating for the company in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $478.50.

Gartner Price Performance

Shares of IT opened at $447.36 on Tuesday. The business has a 50-day moving average of $440.80 and a 200-day moving average of $452.03. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $34.73 billion, a price-to-earnings ratio of 44.51, a price-to-earnings-growth ratio of 3.93 and a beta of 1.33. Gartner has a 1 year low of $323.61 and a 1 year high of $486.54.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $1.47 billion. During the same quarter last year, the business earned $2.88 EPS. The company’s revenue was up 4.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Gartner will post 11.55 earnings per share for the current year.

Insider Buying and Selling at Gartner

In other Gartner news, EVP Yvonne Genovese sold 439 shares of Gartner stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $456.13, for a total transaction of $200,241.07. Following the completion of the transaction, the executive vice president now owns 1,959 shares in the company, valued at approximately $893,558.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director James C. Smith sold 10,000 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $455.20, for a total transaction of $4,552,000.00. Following the transaction, the director now directly owns 608,369 shares in the company, valued at $276,929,568.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Yvonne Genovese sold 439 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $456.13, for a total transaction of $200,241.07. Following the completion of the sale, the executive vice president now owns 1,959 shares of the company’s stock, valued at approximately $893,558.67. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,544 shares of company stock valued at $10,079,813. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Gartner

Several institutional investors have recently modified their holdings of the business. CX Institutional grew its stake in Gartner by 119.7% in the 2nd quarter. CX Institutional now owns 1,173 shares of the information technology services provider’s stock valued at $527,000 after purchasing an additional 639 shares during the period. Simplicity Wealth LLC boosted its holdings in shares of Gartner by 3.8% in the 2nd quarter. Simplicity Wealth LLC now owns 3,347 shares of the information technology services provider’s stock worth $1,503,000 after buying an additional 123 shares during the last quarter. Valeo Financial Advisors LLC grew its position in Gartner by 11.4% during the second quarter. Valeo Financial Advisors LLC now owns 889 shares of the information technology services provider’s stock valued at $399,000 after buying an additional 91 shares during the period. Westwind Capital increased its holdings in Gartner by 11.1% during the second quarter. Westwind Capital now owns 48,377 shares of the information technology services provider’s stock worth $2,172,000 after buying an additional 4,816 shares during the last quarter. Finally, NBC Securities Inc. raised its position in Gartner by 36.6% in the second quarter. NBC Securities Inc. now owns 3,265 shares of the information technology services provider’s stock worth $1,466,000 after acquiring an additional 874 shares during the period. 91.51% of the stock is owned by 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.