Gartner, Inc. (IT) Upgraded at Zacks Investment Research
Gartner, Inc. (NYSE:IT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm presently has a $142.00 price objective on the information technology services provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.68% from the stock’s current price.
According to Zacks, “Gartner offers rich domain expertise and technology-related insight through its research reports and deliveries for informed decision-making process. The company offers timely, thought-provoking and comprehensive analysis that is known for its high quality, independence and objectivity. Its comprehensive services portfolio has enabled customers across the spectrum to research, analyze and interpret the business with greater precision, efficiency, and discipline, thereby saving huge operating costs. With a diligent execution of operational plans, Gartner has recorded double-digit growth in key metrics for over a decade. The acquisition of CEB further reinforces Gartner’s market strength and is likely to be accretive in the future. The company has also outperformed the industry year to date. However, Gartner has to continually invest in value drivers to fend off competition that increase its operating costs and contract margins.”
IT has been the topic of several other research reports. BMO Capital Markets reiterated a “buy” rating and set a $110.00 price target on shares of Gartner in a report on Wednesday, April 5th. Barclays PLC increased their price target on Gartner from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, April 6th. Credit Suisse Group restated a “buy” rating and issued a $124.00 price objective on shares of Gartner in a research note on Tuesday, April 11th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a $115.00 price objective on shares of Gartner in a research note on Tuesday, April 25th. Finally, Royal Bank Of Canada restated a “top pick” rating and issued a $130.00 price objective (up previously from $124.00) on shares of Gartner in a research note on Monday, May 1st. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Gartner has an average rating of “Buy” and an average target price of $119.73.
Shares of Gartner (NYSE IT) traded up 1.17% on Wednesday, reaching $128.64. 150,750 shares of the company’s stock traded hands. The company has a 50 day moving average of $123.04 and a 200-day moving average of $110.94. Gartner has a 52 week low of $84.54 and a 52 week high of $128.90. The stock has a market capitalization of $11.63 billion, a PE ratio of 58.47 and a beta of 1.05.
Gartner (NYSE:IT) last posted its quarterly earnings results on Thursday, May 4th. The information technology services provider reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by $0.01. The company had revenue of $625.17 million during the quarter, compared to analysts’ expectations of $612.84 million. Gartner had a return on equity of 954.04% and a net margin of 7.22%. Gartner’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period last year, the company earned $0.67 earnings per share. Equities research analysts forecast that Gartner will post $3.48 earnings per share for the current year.
In related news, Director Karen E. Dykstra sold 2,500 shares of Gartner stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $120.61, for a total value of $301,525.00. Following the completion of the sale, the director now directly owns 18,223 shares in the company, valued at $2,197,876.03. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Alwyn Dawkins sold 1,000 shares of Gartner stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $117.86, for a total value of $117,860.00. Following the completion of the sale, the senior vice president now owns 28,085 shares of the company’s stock, valued at $3,310,098.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,297 shares of company stock valued at $5,793,254. Corporate insiders own 4.40% of the company’s stock.
Several institutional investors have recently bought and sold shares of IT. BlackRock Inc. raised its position in shares of Gartner by 5,309.2% in the first quarter. BlackRock Inc. now owns 8,174,829 shares of the information technology services provider’s stock valued at $882,800,000 after buying an additional 8,023,700 shares in the last quarter. Janus Capital Management LLC raised its position in shares of Gartner by 62.0% in the first quarter. Janus Capital Management LLC now owns 3,555,481 shares of the information technology services provider’s stock valued at $383,956,000 after buying an additional 1,360,165 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Gartner by 1,983.4% in the first quarter. Alliancebernstein L.P. now owns 1,329,202 shares of the information technology services provider’s stock valued at $143,541,000 after buying an additional 1,265,402 shares in the last quarter. Citadel Advisors LLC raised its position in shares of Gartner by 517.8% in the first quarter. Citadel Advisors LLC now owns 582,495 shares of the information technology services provider’s stock valued at $62,904,000 after buying an additional 488,205 shares in the last quarter. Finally, Polen Capital Management LLC raised its position in shares of Gartner by 8.1% in the first quarter. Polen Capital Management LLC now owns 3,715,050 shares of the information technology services provider’s stock valued at $401,188,000 after buying an additional 279,959 shares in the last quarter. Institutional investors own 87.07% of the company’s stock.
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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