Gartner (NYSE:IT) had its target price increased by equities researchers at Royal Bank of Canada to $98.00 in a report released on Friday, The Fly reports. The firm currently has a “top pick” rating on the information technology services provider’s stock. Royal Bank of Canada’s price target would suggest a potential downside of 26.87% from the stock’s previous close. The analysts noted that the move was a valuation call.
A number of other brokerages have also weighed in on IT. BMO Capital Markets reiterated a “buy” rating and issued a $132.00 price objective on shares of Gartner in a research report on Wednesday, October 4th. Robert W. Baird reiterated a “buy” rating and issued a $135.00 price objective on shares of Gartner in a research report on Friday, November 3rd. Goldman Sachs Group began coverage on Gartner in a research report on Wednesday, November 8th. They issued a “buy” rating and a $146.00 price objective on the stock. Zacks Investment Research upgraded Gartner from a “hold” rating to a “buy” rating and set a $139.00 price objective on the stock in a research report on Monday, October 16th. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $139.00 price objective on shares of Gartner in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Gartner currently has a consensus rating of “Buy” and an average target price of $128.10.
Shares of Gartner (NYSE:IT) traded up $1.87 during trading on Friday, hitting $134.00. The stock had a trading volume of 712,000 shares, compared to its average volume of 454,775. The company has a debt-to-equity ratio of 3.38, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market cap of $12,150.00, a price-to-earnings ratio of -394.12, a PEG ratio of 2.05 and a beta of 1.05. Gartner has a 12-month low of $95.40 and a 12-month high of $134.02.
Several institutional investors have recently bought and sold shares of the business. Intellectus Partners LLC grew its holdings in shares of Gartner by 3.5% in the second quarter. Intellectus Partners LLC now owns 4,439 shares of the information technology services provider’s stock worth $548,000 after acquiring an additional 149 shares during the period. Advisor Group Inc. grew its holdings in shares of Gartner by 13.4% in the second quarter. Advisor Group Inc. now owns 2,035 shares of the information technology services provider’s stock worth $251,000 after acquiring an additional 240 shares during the period. YorkBridge Wealth Partners LLC grew its holdings in shares of Gartner by 4.0% in the second quarter. YorkBridge Wealth Partners LLC now owns 6,886 shares of the information technology services provider’s stock worth $855,000 after acquiring an additional 262 shares during the period. 1st Global Advisors Inc. grew its holdings in shares of Gartner by 16.4% in the second quarter. 1st Global Advisors Inc. now owns 2,195 shares of the information technology services provider’s stock worth $271,000 after acquiring an additional 310 shares during the period. Finally, Norinchukin Bank The grew its holdings in shares of Gartner by 7.5% in the third quarter. Norinchukin Bank The now owns 6,744 shares of the information technology services provider’s stock worth $839,000 after acquiring an additional 468 shares during the period. 95.43% of the stock is owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY NOTICE: “Royal Bank of Canada Increases Gartner (IT) Price Target to $98.00” was first posted by American Banking and Market News and is the sole property of of American Banking and Market News. If you are reading this story on another site, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this story can be read at https://www.americanbankingnews.com/2018/01/19/royal-bank-of-canada-increases-gartner-it-price-target-to-98-00.html.
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.
