Gartner, Inc. (IT) Rating Reiterated by Piper Jaffray Companies
Gartner, Inc. (NYSE:IT)‘s stock had its “hold” rating reiterated by Piper Jaffray Companies in a research note issued on Friday. They presently have a $104.00 price objective on the information technology services provider’s stock. Piper Jaffray Companies’ price objective would suggest a potential downside of 12.35% from the company’s previous close.
A number of other research analysts have also recently commented on IT. BidaskClub cut Gartner from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 9th. Robert W. Baird reaffirmed a “buy” rating and set a $135.00 price target on shares of Gartner in a research report on Friday. Zacks Investment Research cut Gartner from a “buy” rating to a “hold” rating in a research report on Friday. Cantor Fitzgerald reaffirmed a “buy” rating and set a $139.00 price target on shares of Gartner in a research report on Thursday. Finally, TheStreet cut Gartner from a “b” rating to a “c+” rating in a research report on Tuesday, August 8th. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $129.40.
Shares of Gartner (IT) traded down $6.94 during trading hours on Friday, reaching $118.66. The company’s stock had a trading volume of 833,633 shares, compared to its average volume of 659,656. The stock has a market cap of $10.90 billion, a P/E ratio of 38.82, a P/E/G ratio of 2.20 and a beta of 1.08. The company has a debt-to-equity ratio of 3.68, a quick ratio of 0.78 and a current ratio of 0.78.
Gartner (NYSE:IT) last announced its quarterly earnings data on Thursday, November 2nd. The information technology services provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.13. The firm had revenue of $828.09 million during the quarter, compared to the consensus estimate of $826.09 million. Gartner had a positive return on equity of 79.86% and a negative net margin of 1.25%. The business’s revenue for the quarter was up 44.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.58 EPS. sell-side analysts predict that Gartner will post 3.42 earnings per share for the current fiscal year.
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In related news, Director Anne Sutherland Fuchs sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $117.02, for a total transaction of $585,100.00. Following the transaction, the director now directly owns 29,895 shares in the company, valued at approximately $3,498,312.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Alwyn Dawkins sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $118.62, for a total value of $118,620.00. Following the transaction, the senior vice president now owns 27,137 shares in the company, valued at $3,218,990.94. The disclosure for this sale can be found here. Insiders have sold a total of 23,363 shares of company stock worth $2,775,387 over the last quarter. Corporate insiders own 4.30% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of IT. OppenheimerFunds Inc. grew its position in shares of Gartner by 13.4% in the 1st quarter. OppenheimerFunds Inc. now owns 5,482 shares of the information technology services provider’s stock worth $592,000 after buying an additional 646 shares during the last quarter. Teachers Advisors LLC grew its position in shares of Gartner by 54.0% in the 1st quarter. Teachers Advisors LLC now owns 130,288 shares of the information technology services provider’s stock worth $14,070,000 after buying an additional 45,677 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Gartner by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 198,368 shares of the information technology services provider’s stock worth $21,423,000 after buying an additional 5,272 shares during the last quarter. Xact Kapitalforvaltning AB grew its position in shares of Gartner by 100.8% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 18,953 shares of the information technology services provider’s stock worth $2,341,000 after buying an additional 9,515 shares during the last quarter. Finally, Capstone Asset Management Co. grew its position in shares of Gartner by 28.3% in the 2nd quarter. Capstone Asset Management Co. now owns 11,329 shares of the information technology services provider’s stock worth $1,399,000 after buying an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 92.14% 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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