Wells Fargo & Company Boosts Gartner (NYSE:IT) Price Target to $460.00

Gartner (NYSE:IT) had its price objective lifted by Wells Fargo & Company from $435.00 to $460.00 in a report released on Monday, Benzinga reports. They currently have an underweight rating on the information technology services provider’s stock.

Several other equities analysts have also recently weighed in on the stock. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. BMO Capital Markets lifted their price objective on shares of Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Robert W. Baird upped their target price on shares of Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Morgan Stanley lifted their price target on Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Finally, Bank of America upped their price objective on Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Gartner has an average rating of “Hold” and a consensus target price of $532.86.

Gartner Stock Up 0.2 %

Shares of IT stock opened at $531.06 on Monday. The firm’s fifty day moving average price is $497.87 and its two-hundred day moving average price is $466.86. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 3.80. Gartner has a 1 year low of $323.61 and a 1 year high of $534.80. The firm has a market capitalization of $41.23 billion, a P/E ratio of 52.84, a PEG ratio of 3.23 and a beta of 1.32.

Gartner (NYSE:IT) last released 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 142.05% and a net margin of 13.67%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the previous year, the business earned $2.85 earnings per share. Gartner’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities analysts predict that Gartner will post 11.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Akhil Jain sold 400 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $485.00, for a total value of $194,000.00. Following the transaction, the executive vice president now owns 4,839 shares of the company’s stock, valued at approximately $2,346,915. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Gartner news, Director Anne Sutherland Fuchs sold 500 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $505.28, for a total value of $252,640.00. Following the completion of the sale, the director now owns 8,059 shares of the company’s stock, valued at $4,072,051.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Akhil Jain sold 400 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $485.00, for a total transaction of $194,000.00. Following the transaction, the executive vice president now owns 4,839 shares in the company, valued at approximately $2,346,915. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,164 shares of company stock worth $32,601,014 over the last three months. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Gartner

Several institutional investors have recently made changes to their positions in IT. Central Pacific Bank Trust Division acquired a new position in Gartner in the 1st quarter valued at $36,000. Crewe Advisors LLC increased its position in shares of Gartner by 223.3% in the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock worth $44,000 after purchasing an additional 67 shares during the period. J.Safra Asset Management Corp raised its stake in Gartner by 58.7% in the first quarter. J.Safra Asset Management Corp now owns 146 shares of the information technology services provider’s stock valued at $70,000 after purchasing an additional 54 shares in the last quarter. Asset Dedication LLC lifted its position in Gartner by 46.5% during the third quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock worth $75,000 after purchasing an additional 47 shares during the period. Finally, Rothschild Investment LLC acquired a new stake in Gartner during the second quarter worth about $94,000. 91.51% of the stock is currently owned by institutional investors.

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.