Gartner, Inc. (NYSE:IT) Earns “Buy” Rating from Cantor Fitzgerald

Gartner, Inc. (NYSE:IT)‘s stock had its “buy” rating reiterated by equities researchers at Cantor Fitzgerald in a note issued to investors on Thursday, November 2nd. They presently have a $139.00 price target on the information technology services provider’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 18.61% from the company’s previous close.

The analysts wrote, “3Q17 revenue and earnings top estimates. Total revenue was $891.7 mn, up 55.3% y/y (+14% organic cc), vs. our estimate of $871.8 mn and the $868.6 mn FactSet consensus. Research revenue was $653.4 mn, up 40.0% y/y (+16% organic cc). Consulting revenue was $72.1 mn, down -2.2% y/y (-3% y/y organic cc). Events revenue was $45.0 mn, up 34.3% y/y (+22% organic cc). New Talent Assessment & Other segment revenues were $57.6 mn. The deferred revenue fair value assessment was $63.7 mn. Non-GAAP EPS was $0.65, vs. our estimate of $0.51 and the consensus of $0.52. Our performance table is on p.””

Several other equities analysts have also issued reports on IT. Zacks Investment Research lowered Gartner from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Royal Bank Of Canada reaffirmed a “top pick” rating and set a $142.00 price objective (up previously from $130.00) on shares of Gartner in a report on Friday, July 21st. Credit Suisse Group reaffirmed an “outperform” rating and set a $138.00 price objective (up previously from $130.00) on shares of Gartner in a report on Wednesday, August 9th. BidaskClub lowered Gartner from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 9th. Finally, TheStreet lowered Gartner from a “b” rating to a “c+” rating in a report on Tuesday, August 8th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Gartner currently has an average rating of “Buy” and a consensus price target of $132.60.

Shares of Gartner (IT) opened at $117.19 on Thursday. The firm has a market capitalization of $10,560.00, a price-to-earnings ratio of 37.71, a price-to-earnings-growth ratio of 2.13 and a beta of 1.08. Gartner has a 52 week low of $90.37 and a 52 week high of $130.02. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 3.38.

Gartner (NYSE:IT) last issued its quarterly earnings data on Thursday, November 2nd. The information technology services provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.13. The company had revenue of $828.09 million for the quarter, compared to analyst estimates of $826.09 million. Gartner had a negative return on equity of 22.51% and a negative net margin of 5.82%. The business’s quarterly revenue was up 44.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.58 earnings per share. equities research analysts predict that Gartner will post 3.43 EPS for the current year.

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In other news, Director Anne Sutherland Fuchs sold 5,000 shares of Gartner stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $118.92, for a total transaction of $594,600.00. Following the completion of the sale, the director now directly owns 27,395 shares in the company, valued at approximately $3,257,813.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Robin B. Kranich sold 7,487 shares of Gartner stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $120.08, for a total value of $899,038.96. Following the transaction, the senior vice president now owns 21,298 shares of the company’s stock, valued at $2,557,463.84. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the stock. Creative Planning raised its position in shares of Gartner by 1.2% during the 2nd quarter. Creative Planning now owns 1,950 shares of the information technology services provider’s stock worth $241,000 after purchasing an additional 23 shares during the last quarter. Raymond James Trust N.A. raised its holdings in Gartner by 1.3% in the 2nd quarter. Raymond James Trust N.A. now owns 1,952 shares of the information technology services provider’s stock valued at $241,000 after acquiring an additional 26 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Gartner by 0.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 13,047 shares of the information technology services provider’s stock valued at $1,611,000 after acquiring an additional 47 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Gartner by 1.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,832 shares of the information technology services provider’s stock valued at $473,000 after acquiring an additional 50 shares during the last quarter. Finally, Cigna Investments Inc. New raised its holdings in Gartner by 3.1% in the 2nd quarter. Cigna Investments Inc. New now owns 3,426 shares of the information technology services provider’s stock valued at $423,000 after acquiring an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 93.74% of the company’s stock.

About Gartner

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.

Analyst Recommendations for Gartner (NYSE:IT)

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