Gartner, Inc. (IT) Now Covered by Analysts at Goldman Sachs Group, Inc. (The)

Goldman Sachs Group, Inc. (The) started coverage on shares of Gartner, Inc. (NYSE:IT) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The firm issued a buy rating and a $146.00 price objective on the information technology services provider’s stock.

A number of other equities analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Gartner from a buy rating to a hold rating in a report on Tuesday, July 11th. Morgan Stanley upped their price objective on shares of Gartner from $118.00 to $120.00 and gave the company an equal weight rating in a report on Monday, October 23rd. BMO Capital Markets reiterated an outperform rating and issued a $132.00 price objective (down from $137.00) on shares of Gartner in a report on Monday, August 14th. Royal Bank Of Canada reiterated a top pick rating and issued a $142.00 price objective (up from $130.00) on shares of Gartner in a report on Friday, July 21st. Finally, Piper Jaffray Companies reiterated a hold rating and issued a $105.00 price objective on shares of Gartner in a report on Thursday, August 31st. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $132.60.

Shares of Gartner (IT) traded up $0.14 on Wednesday, reaching $117.48. 493,700 shares of the company were exchanged, compared to its average volume of 647,822. The firm has a market capitalization of $10,643.34, a P/E ratio of 37.90, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08. Gartner has a fifty-two week low of $90.37 and a fifty-two 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.

Gartner (NYSE:IT) last issued its earnings results on Thursday, November 2nd. The information technology services provider reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.13. The business had revenue of $828.09 million for the quarter, compared to the consensus estimate of $826.09 million. Gartner had a negative net margin of 1.25% and a positive return on equity of 57.60%. The firm’s revenue for the quarter was up 44.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.58 earnings per share. analysts predict that Gartner will post 3.43 earnings per share for the current year.

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In other news, Director Anne Sutherland Fuchs sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $117.02, for a total value of $585,100.00. Following the completion of the sale, the director now owns 29,895 shares of the company’s stock, valued at $3,498,312.90. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Robin B. Kranich sold 7,487 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $120.08, for a total transaction of $899,038.96. Following the completion of the sale, the senior vice president now directly owns 21,298 shares of the company’s stock, valued at approximately $2,557,463.84. The disclosure for this sale can be found here. In the last three months, insiders sold 22,363 shares of company stock valued at $2,656,767. 4.30% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in the company. Creative Planning lifted its position in Gartner by 1.2% during the second 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 period. Raymond James Trust N.A. lifted its position in Gartner by 1.3% during the second quarter. Raymond James Trust N.A. now owns 1,952 shares of the information technology services provider’s stock worth $241,000 after purchasing an additional 26 shares during the period. Nisa Investment Advisors LLC lifted its position in Gartner by 0.4% during the second quarter. Nisa Investment Advisors LLC now owns 13,047 shares of the information technology services provider’s stock worth $1,611,000 after purchasing an additional 47 shares during the period. State of Alaska Department of Revenue lifted its position in Gartner by 1.3% during the second quarter. State of Alaska Department of Revenue now owns 3,832 shares of the information technology services provider’s stock worth $473,000 after purchasing an additional 50 shares during the period. Finally, Cigna Investments Inc. New lifted its position in Gartner by 3.1% during the second quarter. Cigna Investments Inc. New now owns 3,426 shares of the information technology services provider’s stock worth $423,000 after purchasing an additional 102 shares during the period. 92.19% of the stock is owned by institutional investors.

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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