Gartner, Inc. (IT) Earns “Top Pick” Rating from Royal Bank Of Canada
Gartner, Inc. (NYSE:IT)‘s stock had its “top pick” rating reissued by analysts at Royal Bank Of Canada in a research report issued to clients and investors on Friday. They presently have a $142.00 price target on the information technology services provider’s stock, up from their previous price target of $130.00. Royal Bank Of Canada’s price target indicates a potential upside of 11.42% from the company’s previous close.
A number of other brokerages have also commented on IT. Zacks Investment Research upgraded Gartner from a “hold” rating to a “buy” rating and set a $142.00 target price for the company in a research note on Wednesday. BMO Capital Markets upped their target price on Gartner from $110.00 to $128.00 and gave the company an “outperform” rating in a research note on Monday, May 1st. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a $115.00 target price on shares of Gartner in a research note on Tuesday, April 25th. Morgan Stanley upped their target price on Gartner from $106.00 to $112.00 and gave the company an “equal weight” rating in a research note on Monday, May 8th. Finally, Credit Suisse Group increased their price objective on Gartner from $124.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $120.82.
Shares of Gartner (NYSE:IT) traded up 0.57% during trading on Friday, hitting $128.17. 287,025 shares of the stock traded hands. The company has a market cap of $11.59 billion, a price-to-earnings ratio of 58.26 and a beta of 1.05. The firm’s 50-day moving average price is $123.56 and its 200-day moving average price is $111.19. Gartner has a 52 week low of $84.54 and a 52 week high of $129.24.
Gartner (NYSE:IT) last issued its earnings results on Thursday, May 4th. The information technology services provider reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by $0.01. The firm had revenue of $625.17 million during the quarter, compared to analyst estimates of $612.84 million. Gartner had a net margin of 7.22% and a return on equity of 954.04%. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 earnings per share. On average, equities research analysts anticipate that Gartner will post $3.48 earnings per share for the current year.
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In other news, SVP Alwyn Dawkins sold 1,400 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $116.05, for a total value of $162,470.00. Following the completion of the sale, the senior vice president now directly owns 29,085 shares in the company, valued at $3,375,314.25. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Peter Sondergaard sold 4,172 shares of the firm’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $111.90, for a total value of $466,846.80. Following the completion of the sale, the senior vice president now owns 93,765 shares of the company’s stock, valued at $10,492,303.50. The disclosure for this sale can be found here. Insiders have sold 49,297 shares of company stock valued at $5,793,254 over the last quarter. Corporate insiders own 4.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in IT. Global X Management Co. LLC raised its stake in shares of Gartner by 31.6% in the first quarter. Global X Management Co. LLC now owns 1,725 shares of the information technology services provider’s stock worth $186,000 after buying an additional 414 shares during the period. 1st Global Advisors Inc. acquired a new stake in shares of Gartner during the first quarter worth $204,000. Creative Planning raised its stake in shares of Gartner by 35.8% in the first quarter. Creative Planning now owns 1,927 shares of the information technology services provider’s stock worth $208,000 after buying an additional 508 shares during the period. Raymond James Trust N.A. acquired a new stake in shares of Gartner during the first quarter worth $208,000. Finally, Mn Services Vermogensbeheer B.V. raised its stake in shares of Gartner by 7.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,203 shares of the information technology services provider’s stock worth $222,000 after buying an additional 145 shares during the period. 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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