Gartner (NYSE:IT) Sets New 52-Week High – Should You Buy?

Gartner, Inc. (NYSE:IT)’s stock price hit a new 52-week high on Thursday . The company traded as high as $535.29 and last traded at $534.42, with a volume of 31856 shares. The stock had previously closed at $531.06.

Wall Street Analyst Weigh In

IT has been the topic of several recent research reports. Bank of America lifted their price target on shares of Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Morgan Stanley increased their price target on Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Robert W. Baird upped their price objective on shares of Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, BMO Capital Markets lifted their target price on shares of Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, Gartner currently has a consensus rating of “Hold” and a consensus price target of $532.86.

Gartner Stock Up 0.2 %

The business has a fifty day moving average price of $499.15 and a two-hundred day moving average price of $467.31. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 3.80. The company has a market cap of $41.32 billion, a price-to-earnings ratio of 52.93, a P/E/G ratio of 3.23 and a beta of 1.32.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share for the quarter, beating the consensus estimate of $3.02 by $0.20. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.85 EPS. On average, equities analysts predict that Gartner, Inc. will post 11.65 earnings per share for the current year.

Insider Activity at Gartner

In other Gartner news, CEO Eugene A. Hall sold 34,060 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $505.40, for a total value of $17,213,924.00. Following the transaction, the chief executive officer now directly owns 1,143,401 shares of the company’s stock, valued at $577,874,865.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Eugene A. Hall sold 34,060 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the transaction, the chief executive officer now owns 1,143,401 shares in the company, valued at $577,874,865.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Claire Herkes sold 478 shares of Gartner stock in a transaction on Friday, September 13th. The shares were sold at an average price of $506.01, for a total transaction of $241,872.78. Following the completion of the sale, the executive vice president now directly owns 1,905 shares of the company’s stock, valued at approximately $963,949.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,164 shares of company stock valued at $32,601,014. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Gartner

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Gartner by 5.6% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,426 shares of the information technology services provider’s stock worth $4,270,000 after acquiring an additional 445 shares during the last quarter. Cardinal Capital Management lifted its position in shares of Gartner by 2.3% during the 3rd quarter. Cardinal Capital Management now owns 3,645 shares of the information technology services provider’s stock worth $1,847,000 after purchasing an additional 81 shares during the last quarter. Bleakley Financial Group LLC boosted its stake in Gartner by 6.1% during the 3rd quarter. Bleakley Financial Group LLC now owns 3,550 shares of the information technology services provider’s stock valued at $1,799,000 after purchasing an additional 203 shares during the period. Hengehold Capital Management LLC grew its holdings in Gartner by 27.0% in the 3rd quarter. Hengehold Capital Management LLC now owns 598 shares of the information technology services provider’s stock valued at $303,000 after buying an additional 127 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its position in Gartner by 1.8% in the 3rd quarter. Vontobel Holding Ltd. now owns 10,134 shares of the information technology services provider’s stock worth $5,136,000 after buying an additional 182 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.