Gartner (NYSE:IT) Price Target Raised to $510.00

Gartner (NYSE:IT) had its price target upped by BMO Capital Markets from $450.00 to $510.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “market perform” rating on the information technology services provider’s stock. BMO Capital Markets’ price target suggests a potential upside of 0.77% from the company’s previous close.

A number of other brokerages also recently weighed in on IT. Deutsche Bank Aktiengesellschaft began coverage on Gartner in a report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price target for the company. UBS Group lowered their price target on Gartner from $550.00 to $510.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Morgan Stanley boosted their price target on Gartner from $440.00 to $470.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. Finally, Robert W. Baird upped their price objective on Gartner from $517.00 to $565.00 and gave the stock an “outperform” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $499.50.

Gartner Stock Up 1.5 %

Gartner stock traded up $7.35 during midday trading on Wednesday, hitting $506.12. 95,616 shares of the company were exchanged, compared to its average volume of 404,572. The company’s fifty day moving average price is $447.16 and its 200-day moving average price is $454.38. The company has a market cap of $39.29 billion, a PE ratio of 50.36, a price-to-earnings-growth ratio of 4.08 and a beta of 1.33. 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 has a fifty-two week low of $323.61 and a fifty-two week high of $508.13.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.20. Gartner had a return on equity of 141.55% and a net margin of 13.35%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the company posted $2.85 EPS. Gartner’s quarterly revenue was up 6.1% on a year-over-year basis. On average, research analysts predict that Gartner will post 11.63 EPS for the current fiscal year.

Insider Activity

In other news, EVP Yvonne Genovese sold 439 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $456.13, for a total value of $200,241.07. Following the completion of the sale, the executive vice president now owns 1,959 shares in the company, valued at $893,558.67. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Yvonne Genovese sold 439 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $456.13, for a total value of $200,241.07. Following the completion of the sale, the executive vice president now owns 1,959 shares in the company, valued at $893,558.67. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Alwyn Dawkins sold 600 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $447.63, for a total value of $268,578.00. Following the sale, the executive vice president now directly owns 51,583 shares of the company’s stock, valued at $23,090,098.29. The disclosure for this sale can be found here. Insiders sold a total of 22,544 shares of company stock worth $10,079,813 over the last 90 days. 3.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Gartner

Institutional investors have recently bought and sold shares of the business. MCF Advisors LLC acquired a new stake in Gartner during the 4th quarter worth about $27,000. Frazier Financial Advisors LLC acquired a new stake in Gartner during the 4th quarter worth about $27,000. AdvisorNet Financial Inc boosted its position in Gartner by 59.5% during the 4th quarter. AdvisorNet Financial Inc now owns 67 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 25 shares during the period. DSM Capital Partners LLC acquired a new stake in Gartner during the 4th quarter worth about $32,000. Finally, Harbor Investment Advisory LLC boosted its position in Gartner by 7,500.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 76 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 75 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

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.