Brokerages Set Gartner, Inc. (NYSE:IT) PT at $357.44

Gartner, Inc. (NYSE:IT) has received an average recommendation of “Hold” from the ten brokerages that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $357.4444.

IT has been the subject of several recent research reports. BMO Capital Markets dropped their price target on shares of Gartner from $409.00 to $272.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 6th. Morgan Stanley dropped their price target on shares of Gartner from $455.00 to $322.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 6th. Wells Fargo & Company dropped their price target on shares of Gartner from $345.00 to $225.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 6th. Barclays dropped their price target on shares of Gartner from $475.00 to $320.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 6th. Finally, The Goldman Sachs Group dropped their price target on shares of Gartner from $535.00 to $457.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th.

Insider Transactions at Gartner

In other news, Director Jose M. Gutierrez bought 417 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were bought at an average cost of $239.80 per share, for a total transaction of $99,996.60. Following the acquisition, the director directly owned 2,080 shares of the company’s stock, valued at $498,784. This trade represents a 25.08% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP John J. Rinello sold 105 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $249.71, for a total transaction of $26,219.55. Following the completion of the sale, the senior vice president directly owned 3,225 shares in the company, valued at $805,314.75. This trade represents a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of IT. Brighton Jones LLC purchased a new position in shares of Gartner in the 4th quarter valued at $309,000. State of Wyoming purchased a new position in Gartner during the 4th quarter worth $125,000. Woodline Partners LP purchased a new position in Gartner during the 4th quarter worth $2,251,000. Waverly Advisors LLC purchased a new position in Gartner during the 4th quarter worth $348,000. Finally, Ascent Group LLC grew its position in Gartner by 4.7% during the 4th quarter. Ascent Group LLC now owns 929 shares of the information technology services provider’s stock worth $450,000 after purchasing an additional 42 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Price Performance

Shares of IT stock opened at $263.92 on Tuesday. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $19.99 billion, a P/E ratio of 16.24 and a beta of 1.20. The company’s 50-day simple moving average is $268.42 and its two-hundred day simple moving average is $363.94. Gartner has a one year low of $223.65 and a one year high of $584.01.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.38 by $0.15. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the firm earned $3.22 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. Gartner has set its FY 2025 guidance at 11.750- EPS. As a group, equities analysts anticipate that Gartner will post 12.5 EPS for the current year.

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.