Gartner (NYSE:IT) Price Target Raised to $220.00

Gartner (NYSE:IT) had its target price boosted by UBS Group from $208.00 to $220.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the information technology services provider’s stock.

Several other brokerages have also recently issued reports on IT. Wells Fargo & Company boosted their price target on Gartner from $150.00 to $175.00 and gave the company an “underweight” rating in a research note on Tuesday, October 20th. Weiss Ratings cut shares of Gartner from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, October 26th. The Goldman Sachs Group upped their price target on shares of Gartner from $181.00 to $207.00 and gave the stock a “neutral” rating in a report on Wednesday. BMO Capital Markets reiterated a “market perform” rating and set a $231.00 price target on shares of Gartner in a research report on Wednesday. Finally, Truist Financial cut shares of Gartner from a “buy” rating to a “hold” rating and decreased their price objective for the company from $235.00 to $210.00 in a research note on Wednesday. Seven equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $206.20.

Gartner Stock Performance

Shares of NYSE IT traded down $7.99 during mid-day trading on Wednesday, reaching $190.09. 1,360,527 shares of the company were exchanged, compared to its average volume of 994,717. The stock has a market capitalization of $12.00 billion, a P/E ratio of 13.55, a P/E/G ratio of 0.89 and a beta of 0.92. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 46.98. Gartner has a twelve month low of $124.25 and a twelve month high of $256.89. The company’s 50-day simple moving average is $197.27 and its 200-day simple moving average is $169.57.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, November 3rd. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.75. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.49 billion. Gartner had a net margin of 11.99% and a return on equity of 525.46%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the business posted $2.76 earnings per share. As a group, research analysts predict that Gartner will post 15.02 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Robin B. Kranich sold 3,278 shares of Gartner stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $196.50, for a total transaction of $644,127.00. Following the sale, the executive vice president directly owned 20,358 shares of the company’s stock, valued at approximately $4,000,347. The trade was a 13.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Yvonne Genovese sold 1,205 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president owned 6,208 shares of the company’s stock, valued at approximately $1,179,892.48. This represents a 16.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 5,183 shares of company stock valued at $1,014,360. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Gartner

A number of hedge funds have recently added to or reduced their stakes in IT. Russell Investments Group Ltd. increased its holdings in shares of Gartner by 16.0% during the third quarter. Russell Investments Group Ltd. now owns 63,022 shares of the information technology services provider’s stock worth $11,755,000 after buying an additional 8,706 shares in the last quarter. Maryland State Retirement & Pension System grew its position in Gartner by 27.7% during the 3rd quarter. Maryland State Retirement & Pension System now owns 4,325 shares of the information technology services provider’s stock worth $807,000 after acquiring an additional 938 shares during the last quarter. New South Capital Management Inc. bought a new stake in Gartner during the 3rd quarter worth $22,791,000. Ritholtz Wealth Management bought a new stake in Gartner during the 3rd quarter worth $417,000. Finally, Illinois Municipal Retirement Fund increased its holdings in Gartner by 43.6% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 27,109 shares of the information technology services provider’s stock worth $5,057,000 after purchasing an additional 8,237 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Company Profile

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.