Gartner’s (IT) “Sector Perform” Rating Reaffirmed at Royal Bank Of Canada

Gartner (NYSE:IT)‘s stock had its “sector perform” rating reaffirmed by equities researchers at Royal Bank Of Canada in a report released on Tuesday, Benzinga reports. They presently have a $198.00 price target on the information technology services provider’s stock. Royal Bank Of Canada’s price objective suggests a potential downside of 8.80% from the company’s current price.

A number of other analysts have also recently commented on the stock. The Goldman Sachs Group upped their price objective on shares of Gartner from $162.00 to $181.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. UBS Group upped their price objective on shares of Gartner from $196.00 to $208.00 and gave the company a “neutral” rating in a research report on Monday, October 5th. Truist Financial set a $205.00 price objective on shares of Gartner in a research report on Wednesday, August 5th. Morgan Stanley upped their price objective on shares of Gartner from $177.00 to $182.00 and gave the company an “equal weight” rating in a research report on Thursday, October 8th. Finally, Zacks Research cut shares of Gartner from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $198.50.

Gartner Trading Up 4.5%

IT traded up $9.37 during trading on Tuesday, reaching $217.09. 477,269 shares of the company’s stock were exchanged, compared to its average volume of 1,453,559. The company’s fifty day moving average price is $189.01 and its 200-day moving average price is $163.81. The company has a debt-to-equity ratio of 46.98, a quick ratio of 0.88 and a current ratio of 0.88. Gartner has a fifty-two week low of $124.25 and a fifty-two week high of $261.10. The firm has a market capitalization of $13.71 billion, a PE ratio of 19.48, a P/E/G ratio of 0.77 and a beta of 0.98.

Gartner (NYSE:IT) last released its earnings results on Tuesday, August 4th. The information technology services provider reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $3.76 by $0.61. Gartner had a net margin of 11.99% and a return on equity of 525.46%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the business earned $3.53 EPS. The business’s quarterly revenue was down .6% compared to the same quarter last year. Gartner has set its FY 2026 guidance at 14.000- EPS. As a group, equities analysts forecast that Gartner will post 14.39 EPS for the current year.

Insider Activity at Gartner

In related news, EVP Robin B. Kranich sold 3,278 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $196.50, for a total value of $644,127.00. Following the completion of the transaction, the executive vice president directly owned 20,358 shares of the company’s stock, valued at approximately $4,000,347. This represents a 13.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Yvonne Genovese sold 1,205 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $190.06, for a total transaction of $229,022.30. Following the completion of the transaction, the executive vice president directly owned 6,208 shares of the company’s stock, valued at approximately $1,179,892.48. The trade was a 16.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,043 shares of company stock valued at $1,172,858 in the last quarter. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Gartner

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Elevation Wealth Partners LLC bought a new stake in Gartner during the 3rd quarter worth about $30,000. Bell Investment Advisors Inc lifted its position in Gartner by 75.5% during the 1st quarter. Bell Investment Advisors Inc now owns 172 shares of the information technology services provider’s stock worth $27,000 after buying an additional 74 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in Gartner during the 1st quarter worth about $34,000. Basecamp Wealth Advisors LLC lifted its position in Gartner by 107.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 236 shares of the information technology services provider’s stock worth $37,000 after buying an additional 122 shares in the last quarter. Finally, CX Institutional lifted its position in Gartner by 109.2% during the 3rd quarter. CX Institutional now owns 274 shares of the information technology services provider’s stock worth $51,000 after buying an additional 143 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

About Gartner

Gartner, Inc is a global research and advisory company that provides information, analysis and guidance to business leaders, technology professionals and public-sector organizations. Its work focuses on helping clients evaluate technology markets, develop business strategies, manage risk and make decisions about digital transformation and other organizational priorities.

The company delivers its services through research and advisory programs, consulting engagements, executive guidance and conferences.