Barclays Reiterates “Equal Weight” Rating for Gartner (NYSE:IT)

Gartner (NYSE:IT)‘s stock had its “equal weight” rating reissued by equities researchers at Barclays in a report released on Wednesday, Marketbeat.com reports. They presently have a $270.00 target price on the information technology services provider’s stock, down from their previous target price of $320.00. Barclays‘s price target would suggest a potential upside of 7.46% from the company’s current price.

Several other equities research analysts also recently commented on IT. Truist Financial initiated coverage on shares of Gartner in a research note on Thursday, October 16th. They set a “buy” rating and a $300.00 price objective for the company. Royal Bank Of Canada assumed coverage on Gartner in a research report on Tuesday, September 9th. They set a “sector perform” rating and a $263.00 price target for the company. Wolfe Research began coverage on Gartner in a research note on Wednesday, September 3rd. They set a “peer perform” rating on the stock. UBS Group raised their price objective on Gartner from $270.00 to $280.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Finally, The Goldman Sachs Group decreased their target price on Gartner from $535.00 to $457.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $346.20.

Gartner Price Performance

Shares of IT stock opened at $251.27 on Wednesday. Gartner has a fifty-two week low of $223.65 and a fifty-two week high of $584.01. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $19.03 billion, a price-to-earnings ratio of 15.46 and a beta of 1.20. The stock’s 50-day simple moving average is $248.50 and its 200-day simple moving average is $341.16.

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

Insider Transactions at Gartner

In related news, SVP John J. Rinello sold 105 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $249.71, for a total transaction of $26,219.55. Following the sale, the senior vice president directly owned 3,225 shares of the company’s stock, valued at $805,314.75. This trade represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jose M. Gutierrez purchased 417 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was bought at an average cost of $239.80 per share, with a total value of $99,996.60. Following the completion of 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 disclosure for this purchase can be found here. 2.30% of the stock is owned by corporate insiders.

Institutional Trading of Gartner

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new stake in shares of Gartner during the 4th quarter valued at about $309,000. Lecap Asset Management Ltd. boosted its position in Gartner by 360.5% during the first quarter. Lecap Asset Management Ltd. now owns 3,877 shares of the information technology services provider’s stock worth $1,627,000 after purchasing an additional 3,035 shares in the last quarter. Board of the Pension Protection Fund grew its holdings in Gartner by 58.3% in the first quarter. Board of the Pension Protection Fund now owns 1,900 shares of the information technology services provider’s stock valued at $798,000 after purchasing an additional 700 shares during the period. Bartlett & CO. Wealth Management LLC increased its position in shares of Gartner by 57.5% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 167 shares of the information technology services provider’s stock valued at $70,000 after buying an additional 61 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Gartner by 16.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,375 shares of the information technology services provider’s stock worth $3,921,000 after buying an additional 1,293 shares during the period. Institutional investors and hedge funds 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.