Gartner Inc. (IT) Given Consensus Recommendation of “Hold” by Brokerages
Gartner Inc. (NYSE:IT) has been assigned a consensus recommendation of “Hold” from the thirteen analysts that are presently covering the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $100.56.
IT has been the subject of several recent research reports. Robert W. Baird restated an “outperform” rating and set a $109.00 target price (down previously from $111.00) on shares of Gartner in a report on Sunday, August 7th. Zacks Investment Research cut shares of Gartner from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 7th. Macquarie initiated coverage on shares of Gartner in a report on Thursday, August 25th. They set an “outperform” rating and a $108.00 target price for the company. Cantor Fitzgerald restated a “buy” rating and set a $108.00 target price on shares of Gartner in a report on Friday, August 5th. Finally, Piper Jaffray Cos. restated a “neutral” rating and set a $90.00 target price (down previously from $93.00) on shares of Gartner in a report on Monday, August 8th.
In related news, Director Karen E. Dykstra sold 3,086 shares of the firm’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $90.98, for a total transaction of $280,764.28. Following the transaction, the director now directly owns 18,763 shares of the company’s stock, valued at $1,707,057.74. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP David Godfrey sold 10,198 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $94.10, for a total transaction of $959,631.80. Following the transaction, the senior vice president now directly owns 29,570 shares in the company, valued at $2,782,537. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by insiders.
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A number of institutional investors have recently added to or reduced their stakes in IT. Fiera Capital Corp acquired a new position in Gartner during the second quarter worth approximately $40,513,000. Polen Capital Management LLC raised its position in Gartner by 10.9% in the second quarter. Polen Capital Management LLC now owns 3,078,851 shares of the company’s stock worth $299,911,000 after buying an additional 303,499 shares in the last quarter. BlackRock Fund Advisors raised its position in Gartner by 8.1% in the second quarter. BlackRock Fund Advisors now owns 3,943,756 shares of the company’s stock worth $384,161,000 after buying an additional 294,168 shares in the last quarter. EverPoint Asset Management LLC acquired a new position in Gartner during the second quarter worth approximately $28,429,000. Finally, Atlanta Capital Management Co. L L C raised its position in Gartner by 16.0% in the second quarter. Atlanta Capital Management Co. L L C now owns 1,679,449 shares of the company’s stock worth $163,595,000 after buying an additional 232,148 shares in the last quarter. 90.45% of the stock is currently owned by institutional investors and hedge funds.
Gartner (NYSE:IT) traded down 1.34% during trading on Thursday, reaching $87.61. 82,824 shares of the company were exchanged. The firm has a market cap of $7.24 billion, a price-to-earnings ratio of 39.95 and a beta of 1.03. Gartner has a 52-week low of $77.80 and a 52-week high of $103.00. The firm has a 50-day moving average of $89.63 and a 200-day moving average of $93.88.
Gartner (NYSE:IT) last issued its earnings results on Thursday, August 4th. The company reported $0.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by $0.02. Gartner had a net margin of 7.97% and a negative return on equity of 197.12%. The firm earned $610 million during the quarter, compared to the consensus estimate of $596.78 million. During the same period in the previous year, the company posted $0.65 EPS. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, equities analysts forecast that Gartner will post $2.81 EPS for the current year.
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