Gartner, Inc. (IT) Given Buy Rating at BMO Capital Markets
BMO Capital Markets restated their buy rating on shares of Gartner, Inc. (NYSE:IT) in a research note released on Friday morning. The firm currently has a $137.00 price target on the information technology services provider’s stock.
IT has been the subject of a number of other reports. Piper Jaffray Companies reaffirmed a hold rating and set a $105.00 price objective on shares of Gartner in a report on Thursday, August 31st. Zacks Investment Research raised shares of Gartner from a hold rating to a buy rating and set a $142.00 price objective for the company in a report on Wednesday, July 19th. BidaskClub downgraded shares of Gartner from a buy rating to a hold rating in a research note on Wednesday, August 16th. TheStreet downgraded shares of Gartner from a b rating to a c+ rating in a research note on Tuesday, August 8th. Finally, Royal Bank Of Canada reissued a top pick rating and issued a $142.00 price target (up from $130.00) on shares of Gartner in a research note on Friday, July 21st. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $127.11.
Shares of Gartner (IT) traded up 0.53% on Friday, hitting $124.24. 381,642 shares of the stock traded hands. Gartner has a 52 week low of $84.54 and a 52 week high of $130.02. The firm has a market cap of $11.26 billion, a P/E ratio of 255.11 and a beta of 1.07. The stock has a 50-day moving average price of $122.85 and a 200 day moving average price of $119.78.
Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, August 8th. The information technology services provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.05. Gartner had a net margin of 1.50% and a return on equity of 103.10%. The company had revenue of $843.73 million during the quarter, compared to the consensus estimate of $892.64 million. During the same period in the previous year, the firm posted $0.75 EPS. The firm’s revenue was up 38.3% compared to the same quarter last year. Equities research analysts predict that Gartner will post $3.41 EPS for the current fiscal year.
In related news, Director Anne Sutherland Fuchs sold 5,000 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $118.92, for a total transaction of $594,600.00. Following the transaction, the director now owns 27,395 shares in the company, valued at $3,257,813.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Alwyn Dawkins sold 1,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $118.62, for a total transaction of $118,620.00. Following the transaction, the senior vice president now owns 27,137 shares in the company, valued at approximately $3,218,990.94. The disclosure for this sale can be found here. Insiders have sold 23,363 shares of company stock worth $2,775,387 in the last quarter. 4.40% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC increased its position in shares of Gartner by 466.7% during the second quarter. Advisory Services Network LLC now owns 969 shares of the information technology services provider’s stock valued at $120,000 after buying an additional 798 shares during the period. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Gartner during the second quarter valued at about $124,000. Bronfman E.L. Rothschild L.P. increased its position in shares of Gartner by 9.5% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,182 shares of the information technology services provider’s stock valued at $146,000 after buying an additional 103 shares during the period. Commonwealth Bank of Australia increased its position in shares of Gartner by 20.0% during the second quarter. Commonwealth Bank of Australia now owns 1,200 shares of the information technology services provider’s stock valued at $148,000 after buying an additional 200 shares during the period. Finally, Global X Management Co. LLC increased its position in shares of Gartner by 31.6% during the first quarter. Global X Management Co. LLC now owns 1,725 shares of the information technology services provider’s stock valued at $186,000 after buying an additional 414 shares during the period. Institutional investors own 91.95% of the company’s stock.
Gartner Company Profile
Gartner, Inc is an information technology research and advisory company. The Company works with clients to research, analyze and interpret the business of information technology (IT), supply chain and marketing within the context of their individual roles. It operates in three segments: Research, Consulting and Events.
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