Gartner, Inc. (NYSE:IT) Given Consensus Rating of “Hold” by Brokerages

Gartner, Inc. (NYSE:IT) has earned a consensus recommendation of “Hold” from the eight research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $551.88.

A number of analysts recently commented on IT shares. Morgan Stanley boosted their target price on shares of Gartner from $560.00 to $564.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft increased their price objective on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Robert W. Baird lifted their target price on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Wells Fargo & Company dropped their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th.

Insider Buying and Selling at Gartner

In other Gartner news, EVP William James Wartinbee III sold 189 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $523.54, for a total value of $98,949.06. Following the transaction, the executive vice president now owns 7,311 shares in the company, valued at $3,827,600.94. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James C. Smith sold 2,450 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $554.68, for a total value of $1,358,966.00. Following the completion of the transaction, the director now directly owns 529,844 shares in the company, valued at approximately $293,893,869.92. The trade was a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,583 shares of company stock valued at $19,241,974 in the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Gartner

A number of hedge funds have recently added to or reduced their stakes in IT. Eastern Bank bought a new stake in Gartner in the third quarter worth approximately $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of Gartner in the 3rd quarter valued at $44,000. True Wealth Design LLC increased its position in Gartner by 2,350.0% during the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after buying an additional 94 shares during the last quarter. Fortitude Family Office LLC increased its position in Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after buying an additional 20 shares during the last quarter. Finally, Asset Dedication LLC raised its holdings in Gartner by 46.5% during the third quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock valued at $75,000 after buying an additional 47 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Stock Performance

IT opened at $509.57 on Thursday. The business has a 50 day moving average price of $508.69 and a two-hundred day moving average price of $497.40. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $39.31 billion, a price-to-earnings ratio of 37.58, a price-to-earnings-growth ratio of 3.18 and a beta of 1.33. Gartner has a 1-year low of $411.15 and a 1-year high of $559.00.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.05. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the business posted $2.56 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. Research analysts predict that Gartner will post 11.87 EPS for the current fiscal year.

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.