Goldman Sachs Group, Inc. (The) initiated coverage on shares of Gartner, Inc. (NYSE:IT) in a research note issued to investors on Wednesday, November 8th, MarketBeat Ratings reports. The brokerage issued a buy rating and a $146.00 price target on the information technology services provider’s stock.
Several other analysts have also issued reports on IT. BidaskClub lowered shares of Gartner from a strong-buy rating to a buy rating in a report on Wednesday, August 9th. Zacks Investment Research lowered shares of Gartner from a buy rating to a hold rating in a research note on Friday, August 11th. TheStreet lowered shares of Gartner from a b rating to a c+ rating in a research note on Tuesday, August 8th. Credit Suisse Group reiterated an outperform rating and set a $138.00 price target (up from $130.00) on shares of Gartner in a research note on Wednesday, August 9th. Finally, Robert W. Baird reissued a buy rating and set a $135.00 price objective on shares of Gartner in a research report on Friday, November 3rd. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $132.60.
Shares of Gartner (IT) traded down $0.28 on Wednesday, reaching $116.62. 331,900 shares of the company’s stock traded hands, compared to its average volume of 689,233. Gartner has a 52 week low of $90.37 and a 52 week high of $130.02. The company has a debt-to-equity ratio of 3.38, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market cap of $10,560.00, a PE ratio of 37.71, a PEG ratio of 2.13 and a beta of 1.08.
Gartner (NYSE:IT) last posted its quarterly earnings results on Thursday, November 2nd. The information technology services provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.52 by $0.13. The business 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 company’s quarterly revenue was up 44.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.58 EPS. sell-side analysts predict that Gartner will post 3.43 EPS for the current year.
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In related news, Director Anne Sutherland Fuchs sold 5,000 shares of the stock in a transaction on Friday, August 25th. The stock was sold at an average price of $118.92, for a total transaction of $594,600.00. Following the sale, the director now owns 27,395 shares of the company’s stock, valued at $3,257,813.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Robin B. Kranich sold 7,487 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $120.08, for a total value of $899,038.96. Following the sale, the senior vice president now directly owns 21,298 shares in the company, valued at approximately $2,557,463.84. The disclosure for this sale can be found here. 4.30% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Gartner by 32.4% in the 2nd quarter. Vanguard Group Inc. now owns 8,680,305 shares of the information technology services provider’s stock worth $1,072,104,000 after purchasing an additional 2,125,783 shares during the period. Bamco Inc. NY raised its holdings in shares of Gartner by 0.9% during the 2nd quarter. Bamco Inc. NY now owns 7,055,955 shares of the information technology services provider’s stock valued at $871,481,000 after buying an additional 60,789 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Gartner by 5.5% during the 3rd quarter. Janus Henderson Group PLC now owns 4,514,836 shares of the information technology services provider’s stock valued at $561,691,000 after buying an additional 236,241 shares during the period. Polen Capital Management LLC raised its holdings in shares of Gartner by 2.5% during the 3rd quarter. Polen Capital Management LLC now owns 4,072,192 shares of the information technology services provider’s stock valued at $506,621,000 after buying an additional 99,243 shares during the period. Finally, State Street Corp raised its holdings in shares of Gartner by 31.9% during the 2nd quarter. State Street Corp now owns 3,585,747 shares of the information technology services provider’s stock valued at $442,867,000 after buying an additional 867,040 shares during the period. 93.74% of the stock is currently owned by hedge funds and other institutional investors.
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.
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