Gartner Inc. (NYSE:IT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $110.00 price target on the stock. Zacks Investment Research’s target price indicates a potential upside of 6.11% from the company’s current price.
According to Zacks, “Gartner, Inc. is a research and advisory firm that helps clients understand technology and drive business growth. Gartner’s divisions consist of Gartner Research, Gartner Consulting, Gartner Measurement and Gartner Events. Gartner has the most comprehensive body of global research that reports on and analyzes the technologies that drive business and organizational success. Gartner Consulting leverages the company’s industry-leading research capabilities to deliver hands-on client support, from strategy to measurable results. “
A number of other equities analysts also recently commented on the company. Robert W. Baird reissued an “outperform” rating and set a $109.00 price objective (down from $111.00) on shares of Gartner in a research report on Sunday, August 7th. Macquarie initiated coverage on Gartner in a research note on Thursday, August 25th. They set an “outperform” rating and a $108.00 target price for the company. Cantor Fitzgerald restated a “buy” rating and set a $108.00 target price on shares of Gartner in a research note on Friday, August 5th. Morgan Stanley set a $101.00 target price on Gartner and gave the stock a “hold” rating in a research note on Friday, August 5th. Finally, Piper Jaffray Cos. restated a “neutral” rating and set a $90.00 target price (down previously from $93.00) on shares of Gartner in a research note on Monday, August 8th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Gartner has a consensus rating of “Hold” and a consensus target price of $102.09.
Shares of Gartner (NYSE:IT) traded up 0.06% during trading on Tuesday, reaching $103.67. 99,731 shares of the company traded hands. The company has a market capitalization of $8.56 billion, a price-to-earnings ratio of 45.17 and a beta of 1.06. Gartner has a 1-year low of $77.80 and a 1-year high of $104.62. The stock’s 50 day moving average is $93.34 and its 200 day moving average is $94.98.
Gartner (NYSE:IT) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.08. Gartner had a negative return on equity of 306.16% and a net margin of 7.73%. The business earned $574.10 million during the quarter, compared to the consensus estimate of $562.68 million. During the same period in the previous year, the company posted $0.45 earnings per share. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, analysts forecast that Gartner will post $2.95 EPS for the current year.
In other news, SVP Alwyn Dawkins sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $94.99, for a total transaction of $246,974.00. Following the completion of the sale, the senior vice president now owns 19,116 shares in the company, valued at $1,815,828.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Fiera Capital Corp acquired a new position in shares of Gartner during the second quarter worth $40,513,000. Polen Capital Management LLC raised its position in shares of Gartner by 10.9% in the second quarter. Polen Capital Management LLC now owns 3,078,851 shares of the company’s stock worth $299,911,000 after buying an additional 303,499 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of Gartner by 8.1% in the second quarter. BlackRock Fund Advisors now owns 3,943,756 shares of the company’s stock worth $384,161,000 after buying an additional 294,168 shares in the last quarter. Citadel Advisors LLC raised its position in shares of Gartner by 2,385.5% in the third quarter. Citadel Advisors LLC now owns 305,960 shares of the company’s stock worth $27,063,000 after buying an additional 293,650 shares in the last quarter. Finally, EverPoint Asset Management LLC acquired a new position in shares of Gartner during the second quarter worth $28,429,000. 91.21% of the stock is currently owned by hedge funds and other institutional investors.
Gartner Company Profile