Gartner Inc (NYSE:IT) – Research analysts at Cantor Fitzgerald lifted their FY2017 earnings per share (EPS) estimates for Gartner in a research report issued on Monday. Cantor Fitzgerald analyst J. Foresi now forecasts that the information technology services provider will earn $3.46 per share for the year, up from their previous forecast of $3.38. Cantor Fitzgerald currently has a “Buy” rating and a $128.00 target price on the stock.
Other equities research analysts also recently issued research reports about the stock. Royal Bank of Canada increased their target price on shares of Gartner from $124.00 to $130.00 and gave the stock a “top pick” rating in a research report on Friday, May 5th. Zacks Investment Research upgraded shares of Gartner from a “hold” rating to a “buy” rating and set a $127.00 target price for the company in a research report on Tuesday. Credit Suisse Group AG reiterated a “buy” rating and issued a $124.00 target price on shares of Gartner in a research report on Tuesday, April 11th. Morgan Stanley increased their target price on shares of Gartner from $106.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, BMO Capital Markets restated a “buy” rating and set a $110.00 price target on shares of Gartner in a report on Wednesday, April 5th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Gartner presently has a consensus rating of “Buy” and an average price target of $118.36.
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Shares of Gartner (NYSE:IT) opened at 113.69 on Wednesday. The firm has a market capitalization of $10.28 billion, a P/E ratio of 51.68 and a beta of 1.09. The stock’s 50 day moving average price is $111.07 and its 200-day moving average price is $103.24. Gartner has a 12-month low of $84.54 and a 12-month high of $116.48.
Gartner (NYSE:IT) last released its quarterly earnings data on Thursday, May 4th. The information technology services provider reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by $0.01. The firm had revenue of $625.17 million for the quarter, compared to analyst estimates of $612.84 million. Gartner had a negative return on equity of 408.56% and a net margin of 7.57%. The company’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.67 earnings per share.
In related news, CEO Eugene A. Hall sold 61,181 shares of Gartner stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $101.41, for a total value of $6,204,365.21. Following the transaction, the chief executive officer now owns 1,173,566 shares in the company, valued at approximately $119,011,328.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Alwyn Dawkins sold 5,000 shares of Gartner stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $101.35, for a total transaction of $506,750.00. Following the completion of the transaction, the senior vice president now owns 49,183 shares in the company, valued at approximately $4,984,697.05. The disclosure for this sale can be found here. Insiders sold a total of 76,466 shares of company stock worth $7,770,367 in the last quarter. Insiders own 4.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in IT. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of Gartner during the fourth quarter valued at approximately $126,000. Fuller & Thaler Asset Management Inc. increased its position in shares of Gartner by 200.0% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,800 shares of the information technology services provider’s stock valued at $159,000 after buying an additional 1,200 shares during the period. 1st Global Advisors Inc. purchased a new position in shares of Gartner during the first quarter valued at approximately $204,000. Raymond James Trust N.A. purchased a new position in shares of Gartner during the first quarter valued at approximately $208,000. Finally, Creative Planning increased its position in shares of Gartner by 35.8% in the first quarter. Creative Planning now owns 1,927 shares of the information technology services provider’s stock valued at $208,000 after buying an additional 508 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.
Gartner Company Profile
Gartner, Inc is an information technology research and advisory company. The Company works with clients to research, analyze and interpret the business of information technology (IT), supply chain and marketing within the context of their individual roles. It operates in three segments: Research, Consulting and Events.
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