Gartner, Inc. (IT) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Gartner, Inc. (NYSE:IT) from a hold rating to a buy rating in a research report released on Tuesday. Zacks Investment Research currently has $107.00 target price on the stock.

According to Zacks, “Gartner, Inc. is a research and advisory firm that helps clients understand technology and drive business growth. Gartner’s divisions consist of Gartner Research, Gartner Consulting, Gartner Measurement and Gartner Events. Gartner has the most comprehensive body of global research that reports on and analyzes the technologies that drive business and organizational success. Gartner Consulting leverages the company’s industry-leading research capabilities to deliver hands-on client support, from strategy to measurable results. “

A number of other research firms have also recently weighed in on IT. Barclays PLC upgraded Gartner from an equal weight rating to an overweight rating and upped their price target for the stock from $96.00 to $115.00 in a report on Monday. Cantor Fitzgerald reaffirmed an overweight rating and issued a $108.00 target price on shares of Gartner in a research report on Sunday. RBC Capital Markets raised Gartner from a sector perform rating to an outperform rating and upped their target price for the company from $100.00 to $113.00 in a research report on Friday, January 6th. Macquarie lowered Gartner from an outperform rating to a neutral rating in a research report on Friday, January 6th. Finally, Royal Bank Of Canada raised Gartner from a sector perform rating to an outperform rating and upped their target price for the company from $100.00 to $113.00 in a research report on Friday, January 6th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Gartner presently has an average rating of Buy and an average target price of $107.00.

Gartner (NYSE:IT) traded up 1.37% during trading on Tuesday, reaching $98.96. 1,159,341 shares of the company were exchanged. Gartner has a 52-week low of $77.80 and a 52-week high of $105.45. The stock has a market capitalization of $8.17 billion, a PE ratio of 43.12 and a beta of 1.12. The firm’s 50 day moving average is $101.84 and its 200 day moving average is $95.26.

Gartner (NYSE:IT) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.08. The firm earned $574.10 million during the quarter, compared to analysts’ expectations of $562.68 million. Gartner had a negative return on equity of 306.16% and a net margin of 7.73%. Gartner’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.45 EPS. Analysts expect that Gartner will post $2.95 EPS for the current year.

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In other news, SVP Alwyn Dawkins sold 2,600 shares of the stock in a transaction on Monday, November 7th. The stock was sold at an average price of $94.99, for a total value of $246,974.00. Following the completion of the transaction, the senior vice president now owns 19,116 shares of the company’s stock, valued at $1,815,828.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.40% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. boosted its position in shares of Gartner by 0.4% in the third quarter. Advisor Group Inc. now owns 2,048 shares of the company’s stock valued at $181,000 after buying an additional 8 shares in the last quarter. US Bancorp DE boosted its position in shares of Gartner by 0.4% in the third quarter. US Bancorp DE now owns 6,215 shares of the company’s stock valued at $549,000 after buying an additional 25 shares in the last quarter. Denver Investment Advisors LLC boosted its position in shares of Gartner by 0.8% in the second quarter. Denver Investment Advisors LLC now owns 5,019 shares of the company’s stock valued at $489,000 after buying an additional 39 shares in the last quarter. Isthmus Partners LLC boosted its position in shares of Gartner by 0.8% in the third quarter. Isthmus Partners LLC now owns 8,530 shares of the company’s stock valued at $757,000 after buying an additional 70 shares in the last quarter. Finally, First Mercantile Trust Co. boosted its position in shares of Gartner by 4.8% in the third quarter. First Mercantile Trust Co. now owns 1,870 shares of the company’s stock valued at $165,000 after buying an additional 85 shares in the last quarter. 89.97% of the stock is owned by institutional investors and hedge funds.

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