Goldman Sachs Group, Inc. (The) initiated coverage on shares of Gartner, Inc. (NYSE:IT) in a research note issued to investors on Wednesday morning. The firm issued a buy rating and a $146.00 price target on the information technology services provider’s stock.
Several other equities analysts have also commented on IT. Zacks Investment Research lowered shares of Gartner from a buy rating to a hold rating in a report on Tuesday, July 11th. Morgan Stanley raised their target price on shares of Gartner from $118.00 to $120.00 and gave the company an equal weight rating in a report on Monday, October 23rd. BMO Capital Markets reissued an outperform rating and issued a $132.00 target price (down from $137.00) on shares of Gartner in a report on Monday, August 14th. Royal Bank Of Canada reissued a top pick rating and issued a $142.00 target price (up from $130.00) on shares of Gartner in a report on Friday, July 21st. Finally, Piper Jaffray Companies reissued a hold rating and issued a $105.00 target price on shares of Gartner in a report on Thursday, August 31st. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $132.60.
Shares of Gartner (IT) traded down $1.47 during mid-day trading on Wednesday, hitting $117.34. 486,402 shares of the stock traded hands, compared to its average volume of 696,128. The company has a market capitalization of $10,667.80, a P/E ratio of 37.98, a price-to-earnings-growth ratio of 2.15 and a beta of 1.08. Gartner has a 52 week low of $90.37 and a 52 week high of $130.02. The company has a debt-to-equity ratio of 3.38, a current ratio of 0.73 and a quick ratio of 0.73.
Gartner (NYSE:IT) last posted its earnings results on Thursday, November 2nd. The information technology services provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.13. Gartner had a negative net margin of 1.25% and a positive return on equity of 57.60%. The company had revenue of $828.09 million during the quarter, compared to analysts’ expectations of $826.09 million. During the same quarter last year, the company posted $0.58 EPS. Gartner’s quarterly revenue was up 44.3% compared to the same quarter last year. sell-side analysts predict that Gartner will post 3.43 earnings per share for the current fiscal year.
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In related news, SVP Robin B. Kranich sold 7,487 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $120.08, for a total transaction of $899,038.96. Following the transaction, the senior vice president now owns 21,298 shares in the company, valued at approximately $2,557,463.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anne Sutherland Fuchs sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $117.02, for a total transaction of $585,100.00. Following the transaction, the director now owns 29,895 shares in the company, valued at approximately $3,498,312.90. The disclosure for this sale can be found here. Insiders sold a total of 22,363 shares of company stock worth $2,656,767 in the last 90 days. Corporate insiders own 4.30% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in Gartner by 59.0% during the second quarter. Dimensional Fund Advisors LP now owns 315,351 shares of the information technology services provider’s stock worth $38,950,000 after buying an additional 116,983 shares during the last quarter. Atlantic Trust Group LLC acquired a new position in Gartner during the second quarter worth $1,297,000. Virginia Retirement Systems ET AL raised its holdings in Gartner by 249.0% during the second quarter. Virginia Retirement Systems ET AL now owns 17,100 shares of the information technology services provider’s stock worth $2,112,000 after buying an additional 12,200 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Gartner by 3.8% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 209,092 shares of the information technology services provider’s stock worth $25,825,000 after acquiring an additional 7,596 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Gartner by 6.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,254,564 shares of the information technology services provider’s stock worth $154,949,000 after acquiring an additional 77,018 shares in the last quarter. Institutional investors own 92.19% of the company’s stock.
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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