Gartner (NYSE:IT) Rating Increased to Overweight at Barclays

Barclays upgraded shares of Gartner (NYSE:IT) from an equal weight rating to an overweight rating in a research report sent to investors on Friday morning, Marketbeat.com reports. The firm currently has $600.00 target price on the information technology services provider’s stock, up from their prior target price of $525.00.

Other analysts have also issued research reports about the company. Wells Fargo & Company increased their price target on Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a report on Wednesday, November 6th. Morgan Stanley increased their target price on shares of Gartner from $560.00 to $564.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Robert W. Baird lifted their price target on shares of Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $551.88.

Gartner Stock Performance

Shares of NYSE:IT opened at $488.91 on Friday. The firm has a fifty day simple moving average of $510.05 and a two-hundred day simple moving average of $495.69. Gartner has a 52 week low of $411.15 and a 52 week high of $559.00. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31. The stock has a market capitalization of $37.71 billion, a P/E ratio of 36.06, a PEG ratio of 3.18 and a beta of 1.33.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, topping the consensus estimate of $2.45 by $0.05. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the business posted $2.56 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. On average, analysts expect that Gartner will post 11.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director James C. Smith sold 2,450 shares of Gartner stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $554.68, for a total value of $1,358,966.00. Following the completion of the sale, the director now directly owns 529,844 shares in the company, valued at $293,893,869.92. The trade was a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Claire Herkes sold 411 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $521.24, for a total transaction of $214,229.64. Following the transaction, the executive vice president now owns 1,494 shares in the company, valued at approximately $778,732.56. The trade was a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,583 shares of company stock worth $19,241,974 in the last three months. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Gartner

Several hedge funds have recently modified their holdings of the business. Eastern Bank bought a new position in Gartner in the third quarter worth approximately $26,000. Ashton Thomas Securities LLC purchased a new position in shares of Gartner in the 3rd quarter valued at $44,000. True Wealth Design LLC raised its position in shares of Gartner by 2,350.0% in the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after acquiring an additional 94 shares in the last quarter. Fortitude Family Office LLC lifted its stake in shares of Gartner by 23.8% during the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after purchasing an additional 20 shares during the last quarter. Finally, Asset Dedication LLC boosted its position in Gartner by 46.5% during the third quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock valued at $75,000 after purchasing an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

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.