Gartner (NYSE:IT) Price Target Raised to $207.00

Gartner (NYSE:IT) had its target price raised by The Goldman Sachs Group from $181.00 to $207.00 in a report published on Wednesday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the information technology services provider’s stock.

Several other research analysts also recently issued reports on IT. BMO Capital Markets reiterated a “market perform” rating and issued a $231.00 target price on shares of Gartner in a research note on Wednesday. Truist Financial downgraded shares of Gartner from a “buy” rating to a “hold” rating and reduced their price target for the company from $235.00 to $210.00 in a research report on Wednesday. UBS Group boosted their price objective on shares of Gartner from $196.00 to $208.00 and gave the stock a “neutral” rating in a report on Monday, October 5th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $198.00 price objective on shares of Gartner in a research report on Tuesday, October 20th. Finally, Wells Fargo & Company increased their target price on Gartner from $150.00 to $175.00 and gave the company an “underweight” rating in a research note on Tuesday, October 20th. Seven investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Gartner presently has an average rating of “Reduce” and an average price target of $206.20.

Gartner Stock Down 4.0%

Shares of IT traded down $7.99 during trading hours on Wednesday, hitting $190.09. The company had a trading volume of 1,360,527 shares, compared to its average volume of 994,717. The stock has a market capitalization of $12.00 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 0.89 and a beta of 0.92. The firm has a fifty day moving average price of $197.27 and a 200-day moving average price of $169.57. Gartner has a 52-week low of $124.25 and a 52-week high of $256.89. The company has a debt-to-equity ratio of 46.98, a quick ratio of 0.88 and a current ratio of 0.88.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, November 3rd. The information technology services provider reported $3.59 EPS for the quarter, beating the consensus estimate of $2.84 by $0.75. Gartner had a net margin of 11.99% and a return on equity of 525.46%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the firm posted $2.76 EPS. Gartner’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, equities research analysts forecast that Gartner will post 15.02 EPS for the current fiscal year.

Insider Activity

In other news, EVP Yvonne Genovese sold 1,205 shares of Gartner stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $190.06, for a total value of $229,022.30. Following the completion of the sale, the executive vice president directly owned 6,208 shares in the company, valued at $1,179,892.48. The trade was a 16.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Akhil Jain sold 700 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $201.73, for a total transaction of $141,211.00. Following the transaction, the executive vice president directly owned 8,130 shares of the company’s stock, valued at $1,640,064.90. The trade was a 7.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 5,183 shares of company stock valued at $1,014,360 in the last 90 days. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Gartner

A number of large investors have recently added to or reduced their stakes in IT. Bamco Inc. NY bought a new position in shares of Gartner during the 2nd quarter valued at $985,243,000. BlackRock Inc. bought a new stake in shares of Gartner in the second quarter worth $676,246,000. Bank of America Corp DE bought a new stake in shares of Gartner in the second quarter worth $117,661,000. Madison Asset Management LLC bought a new stake in shares of Gartner in the second quarter worth $74,481,000. Finally, Bank of New York Mellon Corp purchased a new stake in Gartner during the second quarter valued at $51,262,000. Institutional investors own 91.51% of the company’s stock.

Gartner Company Profile

Gartner, Inc is a global research and advisory company that provides information, analysis and guidance to business leaders, technology professionals and public-sector organizations. Its work focuses on helping clients evaluate technology markets, develop business strategies, manage risk and make decisions about digital transformation and other organizational priorities.

The company delivers its services through research and advisory programs, consulting engagements, executive guidance and conferences.