Gartner, Inc. (NYSE:IT) Receives $203.00 Average Price Target from Brokerages

Gartner, Inc. (NYSE:IT) has been assigned a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $203.00.

A number of research firms recently weighed in on IT. Zacks Investment Research raised shares of Gartner from a “hold” rating to a “strong-buy” rating and set a $266.00 target price for the company in a report on Friday, May 7th. Morgan Stanley raised their target price on shares of Gartner from $204.00 to $250.00 and gave the company an “overweight” rating in a report on Tuesday, May 11th. Barclays raised their target price on shares of Gartner from $134.00 to $185.00 and gave the company an “equal weight” rating in a report on Wednesday, February 10th. They noted that the move was a valuation call. TheStreet raised shares of Gartner from a “c+” rating to a “b+” rating in a report on Friday, March 12th. Finally, Wells Fargo & Company raised their target price on shares of Gartner from $145.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, February 10th.

Shares of Gartner stock traded down $2.40 on Monday, hitting $228.70. 362,326 shares of the company traded hands, compared to its average volume of 593,321. The stock has a market capitalization of $20.29 billion, a P/E ratio of 96.09, a price-to-earnings-growth ratio of 3.04 and a beta of 1.57. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.74 and a current ratio of 0.74. Gartner has a 52 week low of $114.36 and a 52 week high of $239.09. The business has a 50-day simple moving average of $201.40 and a 200 day simple moving average of $173.65.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, May 4th. The information technology services provider reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.95. Gartner had a net margin of 5.13% and a return on equity of 41.76%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter last year, the business posted $1.20 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. Research analysts expect that Gartner will post 4.13 earnings per share for the current year.

Gartner declared that its board has approved a stock repurchase program on Tuesday, May 4th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the information technology services provider to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

In other news, CEO Eugene A. Hall sold 44,804 shares of the business’s stock in a transaction on Monday, March 1st. The shares were sold at an average price of $183.55, for a total transaction of $8,223,774.20. Following the completion of the sale, the chief executive officer now directly owns 1,242,474 shares of the company’s stock, valued at $228,056,102.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alwyn Dawkins sold 6,396 shares of the business’s stock in a transaction on Wednesday, May 5th. The shares were sold at an average price of $226.28, for a total transaction of $1,447,286.88. Following the sale, the executive vice president now directly owns 45,572 shares of the company’s stock, valued at $10,312,032.16. The disclosure for this sale can be found here. Insiders have sold 104,654 shares of company stock valued at $22,111,550 over the last ninety days. 4.00% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of IT. Schonfeld Strategic Advisors LLC boosted its stake in shares of Gartner by 68.2% during the third quarter. Schonfeld Strategic Advisors LLC now owns 5,158 shares of the information technology services provider’s stock valued at $645,000 after purchasing an additional 2,091 shares during the period. Sei Investments Co. raised its holdings in shares of Gartner by 8.4% in the third quarter. Sei Investments Co. now owns 75,675 shares of the information technology services provider’s stock valued at $9,456,000 after acquiring an additional 5,884 shares in the last quarter. Diversified Trust Co raised its holdings in shares of Gartner by 25.4% in the fourth quarter. Diversified Trust Co now owns 2,269 shares of the information technology services provider’s stock valued at $363,000 after acquiring an additional 459 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Gartner by 22.2% in the fourth quarter. Louisiana State Employees Retirement System now owns 5,500 shares of the information technology services provider’s stock valued at $881,000 after acquiring an additional 1,000 shares in the last quarter. Finally, First Hawaiian Bank raised its holdings in shares of Gartner by 21.6% in the fourth quarter. First Hawaiian Bank now owns 3,494 shares of the information technology services provider’s stock valued at $560,000 after acquiring an additional 620 shares in the last quarter. 92.30% of the stock is owned by hedge funds and other institutional investors.

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 offers objective insights and advice on the priorities of various leaders in a range of functional areas of the enterprise through reports, briefings, proprietary tools, access to research expert, peer networking services, and membership programs that enable clients to drive organizational performance.

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Analyst Recommendations for Gartner (NYSE:IT)

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