Gartner, Inc. (NYSE:IT) Receives Average Recommendation of “Hold” from Brokerages

Gartner, Inc. (NYSE:IT) has earned an average rating of “Hold” from the five brokerages that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $477.60.

IT has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Gartner in a report on Tuesday. They issued a “hold” rating and a $507.00 price objective for the company. Morgan Stanley increased their price objective on Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a report on Saturday, February 10th. UBS Group raised Gartner from a “neutral” rating to a “buy” rating and increased their price objective for the company from $484.00 to $550.00 in a report on Thursday, April 11th. Finally, BMO Capital Markets increased their price objective on Gartner from $444.00 to $450.00 and gave the company a “market perform” rating in a report on Thursday, February 8th.

Gartner Price Performance

IT stock opened at $463.68 on Tuesday. The business has a 50 day moving average price of $465.74 and a 200 day moving average price of $432.79. The stock has a market cap of $36.15 billion, a price-to-earnings ratio of 41.92, a PEG ratio of 4.25 and a beta of 1.29. Gartner has a fifty-two week low of $292.60 and a fifty-two week high of $486.54. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.60.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.21. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. Gartner had a return on equity of 156.35% and a net margin of 14.94%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $3.70 earnings per share. Equities research analysts anticipate that Gartner will post 11.36 earnings per share for the current fiscal year.

Insider Transactions at Gartner

In other news, EVP Yvonne Genovese sold 560 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $457.37, for a total transaction of $256,127.20. Following the completion of the sale, the executive vice president now owns 2,398 shares in the company, valued at $1,096,773.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Gartner news, EVP Valentin Sribar sold 682 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $453.00, for a total value of $308,946.00. Following the completion of the transaction, the executive vice president now owns 12,269 shares in the company, valued at $5,557,857. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Yvonne Genovese sold 560 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $457.37, for a total value of $256,127.20. Following the completion of the transaction, the executive vice president now owns 2,398 shares of the company’s stock, valued at approximately $1,096,773.26. The disclosure for this sale can be found here. Insiders sold 22,952 shares of company stock worth $10,598,070 over the last 90 days. 3.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Gartner by 1.1% in the first quarter. Vanguard Group Inc. now owns 9,198,161 shares of the information technology services provider’s stock valued at $2,736,085,000 after purchasing an additional 102,709 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Gartner by 2.6% during the first quarter. BlackRock Inc. now owns 6,394,140 shares of the information technology services provider’s stock valued at $2,083,019,000 after acquiring an additional 165,046 shares during the last quarter. State Street Corp boosted its stake in shares of Gartner by 2.3% during the first quarter. State Street Corp now owns 3,072,139 shares of the information technology services provider’s stock valued at $1,000,811,000 after acquiring an additional 69,116 shares during the last quarter. Morgan Stanley boosted its stake in shares of Gartner by 4.6% during the third quarter. Morgan Stanley now owns 2,157,075 shares of the information technology services provider’s stock valued at $741,193,000 after acquiring an additional 95,040 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Gartner by 20.3% during the first quarter. Wellington Management Group LLP now owns 2,029,738 shares of the information technology services provider’s stock valued at $603,766,000 after acquiring an additional 342,228 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

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.