Royal Bank Of Canada Reaffirms “Buy” Rating for Gartner, Inc. (IT)
Gartner, Inc. (NYSE:IT)‘s stock had its “buy” rating restated by stock analysts at Royal Bank Of Canada in a note issued to investors on Friday. They presently have a $143.00 target price on the information technology services provider’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 20.51% from the company’s current price.
Several other research analysts also recently issued reports on the company. Zacks Investment Research downgraded Gartner from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Morgan Stanley increased their target price on shares of Gartner from $118.00 to $120.00 and gave the company an “equal weight” rating in a research report on Monday, October 23rd. BMO Capital Markets reissued an “outperform” rating and set a $132.00 target price (down previously from $137.00) on shares of Gartner in a research report on Monday, August 14th. Piper Jaffray Companies reissued a “hold” rating and set a $105.00 target price on shares of Gartner in a research report on Thursday, August 31st. Finally, Credit Suisse Group reissued an “outperform” rating and set a $138.00 target price (up previously from $130.00) on shares of Gartner in a research report on Wednesday, August 9th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $129.50.
Shares of Gartner (IT) traded down $6.94 during trading on Friday, hitting $118.66. 833,633 shares of the stock were exchanged, compared to its average volume of 659,656. The company has a market cap of $10.90 billion, a P/E ratio of 38.82, a PEG ratio of 2.20 and a beta of 1.08. The company has a debt-to-equity ratio of 3.68, a current ratio of 0.78 and a quick ratio of 0.78.
Gartner (NYSE:IT) last posted its quarterly earnings data on Thursday, November 2nd. The information technology services provider reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.13. Gartner had a negative net margin of 1.25% and a positive return on equity of 79.86%. The business had revenue of $828.09 million during the quarter, compared to analysts’ expectations of $826.09 million. During the same quarter in the prior year, the business posted $0.58 earnings per share. Gartner’s revenue was up 44.3% compared to the same quarter last year. analysts expect that Gartner will post 3.42 EPS for the current fiscal year.
In other news, SVP Alwyn Dawkins sold 1,000 shares of the business’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 transaction of $118,620.00. Following the transaction, the senior vice president now directly owns 27,137 shares of the company’s stock, valued at $3,218,990.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Robin B. Kranich sold 7,487 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $120.08, for a total value of $899,038.96. Following the transaction, the senior vice president now directly owns 21,298 shares in the company, valued at $2,557,463.84. The disclosure for this sale can be found here. Insiders sold a total of 23,363 shares of company stock valued at $2,775,387 in the last 90 days. 4.30% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Mizuho Asset Management Co. Ltd. bought a new stake in Gartner in the second quarter worth $106,000. Advisory Services Network LLC lifted its holdings in shares of Gartner by 466.7% during the second quarter. Advisory Services Network LLC now owns 969 shares of the information technology services provider’s stock valued at $120,000 after purchasing an additional 798 shares in the last quarter. Benjamin F. Edwards & Company Inc. bought a new position in shares of Gartner during the second quarter valued at $124,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Gartner during the fourth quarter valued at $126,000. Finally, Bronfman E.L. Rothschild L.P. increased its position in Gartner by 9.5% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,182 shares of the information technology services provider’s stock valued at $146,000 after acquiring an additional 103 shares during the last quarter. 92.14% of the stock is currently owned by hedge funds and other institutional investors.
Gartner Company Profile
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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