Zacks Investment Research upgraded shares of Gartner, Inc. (NYSE:IT) from a hold rating to a buy rating in a research note released on Wednesday morning. The firm currently has $142.00 target price on the information technology services provider’s stock.
According to Zacks, “Gartner offers rich domain expertise and technology-related insight through its research reports and deliveries for informed decision-making process. The company offers timely, thought-provoking and comprehensive analysis that is known for its high quality, independence and objectivity. Its comprehensive services portfolio has enabled customers across the spectrum to research, analyze and interpret the business with greater precision, efficiency, and discipline, thereby saving huge operating costs. With a diligent execution of operational plans, Gartner has recorded double-digit growth in key metrics for over a decade. The acquisition of CEB further reinforces Gartner’s market strength and is likely to be accretive in the future. The company has also outperformed the industry year to date. However, Gartner has to continually invest in value drivers to fend off competition that increase its operating costs and contract margins.”
IT has been the topic of several other reports. Credit Suisse Group reaffirmed an outperform rating and issued a $130.00 price objective (up from $124.00) on shares of Gartner in a report on Friday, May 5th. Royal Bank Of Canada boosted their target price on shares of Gartner from $124.00 to $130.00 and gave the company a top pick rating in a research note on Friday, May 5th. Barclays PLC boosted their target price on shares of Gartner from $115.00 to $125.00 and gave the company an overweight rating in a research note on Thursday, April 6th. Cantor Fitzgerald reiterated a buy rating and issued a $128.00 target price on shares of Gartner in a research note on Monday, May 8th. Finally, BMO Capital Markets reiterated a buy rating and issued a $110.00 target price on shares of Gartner in a research note on Wednesday, April 5th. Four investment 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. The company has a consensus rating of Buy and an average target price of $119.73.
Gartner (NYSE:IT) traded down 0.49% during midday trading on Wednesday, hitting $128.22. 152,901 shares of the stock were exchanged. The company has a market cap of $11.60 billion, a PE ratio of 58.28 and a beta of 1.05. The firm’s 50 day moving average price is $123.34 and its 200 day moving average price is $111.07. Gartner has a 12 month low of $84.54 and a 12 month high of $129.24.
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 the consensus estimate of $0.61 by $0.01. The business had revenue of $625.17 million during the quarter, compared to analysts’ expectations of $612.84 million. Gartner had a net margin of 7.22% and a return on equity of 954.04%. The firm’s revenue was up 12.2% on a year-over-year basis. During the same period last year, the company earned $0.67 earnings per share. On average, equities research analysts forecast that Gartner will post $3.48 earnings per share for the current fiscal year.
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In other news, SVP Peter Sondergaard sold 4,172 shares of the stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $111.90, for a total value of $466,846.80. Following the completion of the sale, the senior vice president now directly owns 93,765 shares in the company, valued at $10,492,303.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Karen E. Dykstra sold 2,500 shares of the stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $120.61, for a total transaction of $301,525.00. Following the completion of the sale, the director now owns 18,223 shares of the company’s stock, valued at $2,197,876.03. The disclosure for this sale can be found here. Insiders sold 49,297 shares of company stock valued at $5,793,254 over the last quarter. Company insiders own 4.40% of the company’s stock.
Large investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue purchased a new stake in shares of Gartner during the first quarter worth about $408,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of Gartner during the first quarter worth about $535,000. Louisiana State Employees Retirement System raised its stake in shares of Gartner by 2.5% in the first quarter. Louisiana State Employees Retirement System now owns 20,900 shares of the information technology services provider’s stock worth $2,257,000 after buying an additional 500 shares in the last quarter. Parametrica Management Ltd raised its stake in shares of Gartner by 11.8% in the first quarter. Parametrica Management Ltd now owns 5,130 shares of the information technology services provider’s stock worth $554,000 after buying an additional 543 shares in the last quarter. Finally, Capstone Asset Management Co. raised its stake in shares of Gartner by 3.6% in the first quarter. Capstone Asset Management Co. now owns 8,829 shares of the information technology services provider’s stock worth $953,000 after buying an additional 310 shares in the last quarter. 87.07% of the stock is owned by hedge funds and other institutional investors.
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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