Wells Fargo & Company Begins Coverage on Gartner (NYSE:IT)

Wells Fargo & Company started coverage on shares of Gartner (NYSE:IT) in a report issued on Monday, MarketBeat reports. The firm issued an underweight rating and a $435.00 price objective on the information technology services provider’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Bank of America upped their price objective on shares of Gartner from $525.00 to $580.00 and gave the stock a buy rating in a report on Wednesday, July 31st. BMO Capital Markets upped their price objective on shares of Gartner from $450.00 to $510.00 and gave the stock a market perform rating in a report on Wednesday, July 31st. Robert W. Baird upped their price objective on shares of Gartner from $517.00 to $565.00 and gave the stock an outperform rating in a report on Wednesday, July 31st. StockNews.com cut shares of Gartner from a buy rating to a hold rating in a report on Wednesday, July 17th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Gartner in a report on Tuesday, April 16th. They issued a hold rating and a $507.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $521.00.

Gartner Trading Down 0.3 %

Gartner stock opened at $478.59 on Monday. The company’s fifty day simple moving average is $457.28 and its 200-day simple moving average is $455.79. The company has a quick ratio of 0.91, a current ratio of 0.90 and a debt-to-equity ratio of 3.80. Gartner has a 12 month low of $323.61 and a 12 month high of $509.15. The stock has a market cap of $37.15 billion, a P/E ratio of 47.62, a P/E/G ratio of 3.80 and a beta of 1.33.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, beating the consensus estimate of $3.02 by $0.20. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Gartner had a net margin of 13.67% and a return on equity of 142.05%. Gartner’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.85 EPS. As a group, sell-side analysts forecast that Gartner will post 11.58 EPS for the current fiscal year.

Insider Activity

In related news, CEO Eugene A. Hall sold 12,082 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $504.84, for a total value of $6,099,476.88. Following the completion of the transaction, the chief executive officer now owns 1,143,389 shares of the company’s stock, valued at $577,228,502.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Eugene A. Hall sold 12,082 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $504.84, for a total value of $6,099,476.88. Following the completion of the transaction, the chief executive officer now owns 1,143,389 shares of the company’s stock, valued at $577,228,502.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karen E. Dykstra sold 1,683 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $465.55, for a total transaction of $783,520.65. Following the completion of the transaction, the director now directly owns 19,825 shares of the company’s stock, valued at approximately $9,229,528.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,209 shares of company stock valued at $17,452,363. Insiders own 3.60% of the company’s stock.

Institutional Trading of Gartner

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Gartner by 0.7% during the first quarter. Vanguard Group Inc. now owns 8,974,760 shares of the information technology services provider’s stock valued at $4,277,999,000 after purchasing an additional 60,786 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Gartner by 22.0% during the second quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock valued at $852,014,000 after purchasing an additional 341,911 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Gartner by 12.0% during the fourth 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 purchasing an additional 198,274 shares during the last quarter. Brown Advisory Inc. grew its stake in shares of Gartner by 4.6% during the fourth quarter. Brown Advisory Inc. now owns 1,208,914 shares of the information technology services provider’s stock valued at $545,353,000 after purchasing an additional 52,826 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Gartner by 18.5% during the fourth quarter. Franklin Resources Inc. now owns 920,716 shares of the information technology services provider’s stock valued at $415,344,000 after purchasing an additional 143,556 shares during the last quarter. 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.