Gartner (NYSE:IT) Price Target Raised to $525.00

Gartner (NYSE:IT) had its price target increased by UBS Group from $500.00 to $525.00 in a report issued on Wednesday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the information technology services provider’s stock.

Other analysts have also issued reports about the stock. Robert W. Baird cut their target price on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Morgan Stanley reduced their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Finally, Wells Fargo & Company cut their price objective on Gartner from $401.00 to $400.00 and set an “underweight” rating on the stock in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Gartner currently has a consensus rating of “Hold” and a consensus price target of $518.67.

Gartner Price Performance

Shares of NYSE:IT opened at $432.12 on Wednesday. The stock has a market cap of $33.19 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 3.30 and a beta of 1.24. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. Gartner has a 12 month low of $366.05 and a 12 month high of $584.01. The stock’s 50 day moving average price is $423.97 and its 200 day moving average price is $482.39.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.26. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The company’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.93 earnings per share. Equities research analysts anticipate that Gartner will post 12.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Gartner news, SVP John J. Rinello sold 90 shares of Gartner stock in a transaction on Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the sale, the senior vice president now owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Eileen Serra sold 1,200 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the transaction, the director now directly owns 1,627 shares in the company, valued at $796,855.79. This trade represents a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,138 shares of company stock worth $1,005,606. 3.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Gartner

Several institutional investors have recently made changes to their positions in IT. Howard Capital Management Inc. lifted its stake in Gartner by 4.4% in the fourth quarter. Howard Capital Management Inc. now owns 452 shares of the information technology services provider’s stock valued at $219,000 after acquiring an additional 19 shares during the last quarter. Gilbert & Cook Inc. lifted its stake in shares of Gartner by 1.5% in the 4th quarter. Gilbert & Cook Inc. now owns 1,364 shares of the information technology services provider’s stock valued at $661,000 after purchasing an additional 20 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its holdings in Gartner by 2.5% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 826 shares of the information technology services provider’s stock worth $400,000 after purchasing an additional 20 shares in the last quarter. Sompo Asset Management Co. Ltd. increased its position in Gartner by 1.7% during the fourth quarter. Sompo Asset Management Co. Ltd. now owns 1,210 shares of the information technology services provider’s stock worth $586,000 after buying an additional 20 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in Gartner by 2.9% during the fourth quarter. Parallel Advisors LLC now owns 737 shares of the information technology services provider’s stock valued at $357,000 after buying an additional 21 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

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.