Gartner (NYSE:IT) Given New $565.00 Price Target at Robert W. Baird

Gartner (NYSE:IT) had its target price hoisted by Robert W. Baird from $517.00 to $565.00 in a research report report published on Wednesday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the information technology services provider’s stock.

A number of other equities analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Gartner in a report on Tuesday, April 16th. They issued a hold rating and a $507.00 price objective for the company. StockNews.com lowered shares of Gartner from a buy rating to a hold rating in a report on Wednesday, July 17th. Morgan Stanley boosted their price objective on shares of Gartner from $440.00 to $470.00 and gave the stock an equal weight rating in a report on Thursday, July 11th. BMO Capital Markets cut their target price on shares of Gartner from $450.00 to $432.00 and set a market perform rating for the company in a research report on Thursday, May 2nd. Finally, UBS Group cut their target price on shares of Gartner from $550.00 to $510.00 and set a buy rating for the company in a research report on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $521.00.

Gartner Price Performance

IT stock opened at $479.29 on Wednesday. The firm has a 50 day moving average price of $449.91 and a 200-day moving average price of $455.15. Gartner has a 52-week low of $323.61 and a 52-week high of $509.15. The firm has a market capitalization of $37.21 billion, a price-to-earnings ratio of 47.69, a PEG ratio of 3.80 and a beta of 1.33. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.91 and a current ratio of 0.90.

Gartner (NYSE:IT) last released its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.20. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period last year, the business earned $2.85 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. Equities research analysts forecast that Gartner will post 11.58 EPS for the current fiscal year.

Insider Activity

In related news, EVP Yvonne Genovese sold 439 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $456.13, for a total value of $200,241.07. Following the completion of the transaction, the executive vice president now owns 1,959 shares of the company’s stock, valued at approximately $893,558.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director James C. Smith sold 10,000 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $455.20, for a total value of $4,552,000.00. Following the completion of the transaction, the director now owns 608,369 shares of the company’s stock, valued at approximately $276,929,568.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Yvonne Genovese sold 439 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $456.13, for a total transaction of $200,241.07. Following the completion of the transaction, the executive vice president now directly owns 1,959 shares of the company’s stock, valued at approximately $893,558.67. The disclosure for this sale can be found here. Insiders sold a total of 36,126 shares of company stock valued at $16,937,420 in the last 90 days. Company insiders own 3.60% of the company’s stock.

Institutional Trading of Gartner

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Gartner by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 8,974,760 shares of the information technology services provider’s stock worth $4,277,999,000 after purchasing an additional 60,786 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Gartner by 22.0% in the 2nd quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock worth $852,014,000 after purchasing an additional 341,911 shares in the last quarter. Wellington Management Group LLP lifted its stake in Gartner by 12.0% in the 4th quarter. Wellington Management Group LLP now owns 1,852,820 shares of the information technology services provider’s stock worth $835,826,000 after purchasing an additional 198,274 shares in the last quarter. Brown Advisory Inc. lifted its stake in Gartner by 4.6% in the 4th quarter. Brown Advisory Inc. now owns 1,208,914 shares of the information technology services provider’s stock worth $545,353,000 after purchasing an additional 52,826 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Gartner by 18.5% during the 4th quarter. Franklin Resources Inc. now owns 920,716 shares of the information technology services provider’s stock valued at $415,344,000 after buying an additional 143,556 shares in 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.