Barclays Forecasts Strong Price Appreciation for Gartner (NYSE:IT) Stock

Gartner (NYSE:IT) had its price objective hoisted by stock analysts at Barclays from $470.00 to $525.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the information technology services provider’s stock. Barclays‘s target price suggests a potential downside of 4.34% from the company’s current price.

IT has been the topic of a number of other research reports. Robert W. Baird raised their price target on shares of Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a report on Wednesday. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Bank of America increased their price objective on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. BMO Capital Markets boosted their target price on Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. Finally, UBS Group raised their price target on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Gartner presently has a consensus rating of “Hold” and an average target price of $539.25.

Gartner Price Performance

IT stock traded up $8.06 during mid-day trading on Wednesday, hitting $548.81. 85,740 shares of the stock were exchanged, compared to its average volume of 367,010. The business has a fifty day moving average price of $511.54 and a 200 day moving average price of $473.53. Gartner has a 12 month low of $397.43 and a 12 month high of $548.81. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $42.29 billion, a price-to-earnings ratio of 51.81, a PEG ratio of 3.14 and a beta of 1.32.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.05. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the business posted $2.56 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. On average, sell-side analysts anticipate that Gartner will post 11.65 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Craig Safian sold 6,310 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $483.57, for a total transaction of $3,051,326.70. Following the completion of the transaction, the chief financial officer now directly owns 71,544 shares of the company’s stock, valued at $34,596,532.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Craig Safian sold 6,310 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $483.57, for a total transaction of $3,051,326.70. Following the completion of the sale, the chief financial officer now owns 71,544 shares in the company, valued at approximately $34,596,532.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Yvonne Genovese sold 443 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $483.62, for a total value of $214,243.66. Following the sale, the executive vice president now owns 1,959 shares of the company’s stock, valued at approximately $947,411.58. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,899 shares of company stock valued at $24,959,886. 3.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC lifted its holdings in Gartner by 0.5% during the first quarter. Janney Montgomery Scott LLC now owns 11,273 shares of the information technology services provider’s stock valued at $5,374,000 after purchasing an additional 59 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Gartner by 4.3% during the 1st quarter. Nordea Investment Management AB now owns 6,370 shares of the information technology services provider’s stock valued at $3,075,000 after buying an additional 260 shares in the last quarter. Whittier Trust Co. boosted its holdings in Gartner by 43.5% in the 1st quarter. Whittier Trust Co. now owns 432 shares of the information technology services provider’s stock worth $206,000 after buying an additional 131 shares during the period. Central Pacific Bank Trust Division purchased a new stake in Gartner in the 1st quarter worth $36,000. Finally, GSA Capital Partners LLP bought a new stake in Gartner during the first quarter valued at about $1,121,000. 91.51% of the stock is currently owned by institutional investors.

About Gartner

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.