Gartner (NYSE:IT) Trading 7.2% Higher – Here’s What Happened

Shares of Gartner, Inc. (NYSE:IT) were up 7.2% during trading on Tuesday . The stock traded as high as $156.55 and last traded at $158.1110. 61,293 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 1,555,525 shares. The stock had previously closed at $147.45.

Wall Street Analysts Forecast Growth

IT has been the topic of several analyst reports. Wells Fargo & Company lowered their price target on shares of Gartner from $140.00 to $120.00 and set an “underweight” rating on the stock in a report on Wednesday, June 24th. Barclays decreased their target price on shares of Gartner from $180.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Friday, April 10th. Morgan Stanley dropped their price target on shares of Gartner from $183.00 to $173.00 and set an “equal weight” rating for the company in a research report on Friday, July 10th. The Goldman Sachs Group set a $162.00 price objective on Gartner in a report on Tuesday, May 5th. Finally, Royal Bank Of Canada dropped their target price on Gartner from $175.00 to $160.00 and set a “sector perform” rating for the company in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $173.10.

Gartner Stock Performance

The stock has a 50-day moving average of $144.69 and a 200 day moving average of $161.88. The company has a debt-to-equity ratio of 46.98, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $10.60 billion, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 0.78 and a beta of 0.97.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, May 5th. The information technology services provider reported $3.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.99 by $0.33. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.51 billion. Gartner had a return on equity of 161.39% and a net margin of 11.44%.The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the company posted $2.98 earnings per share. Gartner has set its FY 2026 guidance at 13.250- EPS. On average, research analysts anticipate that Gartner, Inc. will post 13.61 earnings per share for the current year.

Institutional Trading of Gartner

Several hedge funds have recently modified their holdings of IT. Cresset Asset Management LLC raised its position in Gartner by 3.3% in the 3rd quarter. Cresset Asset Management LLC now owns 1,493 shares of the information technology services provider’s stock worth $392,000 after purchasing an additional 47 shares during the last quarter. Horizon Investments LLC raised its position in shares of Gartner by 4.3% during the fourth quarter. Horizon Investments LLC now owns 1,237 shares of the information technology services provider’s stock worth $312,000 after acquiring an additional 51 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in shares of Gartner by 5.8% during the third quarter. Brown Brothers Harriman & Co. now owns 1,019 shares of the information technology services provider’s stock valued at $268,000 after acquiring an additional 56 shares during the period. Physician Wealth Advisors Inc. lifted its stake in shares of Gartner by 143.9% during the fourth quarter. Physician Wealth Advisors Inc. now owns 100 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 59 shares during the period. Finally, Valeo Financial Advisors LLC boosted its holdings in Gartner by 8.8% in the fourth quarter. Valeo Financial Advisors LLC now owns 839 shares of the information technology services provider’s stock valued at $212,000 after acquiring an additional 68 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

About Gartner

Gartner, Inc is a global research and advisory firm that provides insights, advice and tools for leaders in IT, finance, HR, customer service and other business functions. Founded in 1979 and headquartered in Stamford, Connecticut, Gartner specializes in helping organizations make informed decisions about technology, operations and strategy through a combination of published research, advisory services, consulting, executive programs and events.

The company’s offerings include proprietary research reports, market forecasts, and analytical frameworks that are widely used by technology buyers and vendors.