Robert W. Baird Boosts Gartner (NYSE:IT) Price Target to $365.00

Gartner (NYSE:ITGet Rating) had its target price increased by Robert W. Baird from $334.00 to $365.00 in a report released on Wednesday, The Fly reports.

Several other brokerages have also commented on IT. Morgan Stanley decreased their target price on Gartner from $300.00 to $274.00 and set an equal weight rating for the company in a research report on Tuesday, July 19th. Bank of America upgraded Gartner from a neutral rating to a buy rating and set a $340.00 target price for the company in a research report on Thursday, April 14th. TheStreet lowered Gartner from a b rating to a c+ rating in a research report on Tuesday, May 3rd. BMO Capital Markets cut their price target on Gartner from $315.00 to $265.00 and set a market perform rating on the stock in a report on Tuesday, June 21st. Finally, Wells Fargo & Company initiated coverage on Gartner in a report on Tuesday, July 12th. They issued an overweight rating and a $305.00 price target on the stock. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $321.67.

Gartner Price Performance

Shares of NYSE IT opened at $295.44 on Wednesday. Gartner has a fifty-two week low of $221.39 and a fifty-two week high of $368.99. The business has a 50 day moving average price of $251.55 and a two-hundred day moving average price of $271.96. The company has a quick ratio of 0.70, a current ratio of 0.62 and a debt-to-equity ratio of 20.79. The firm has a market cap of $23.79 billion, a PE ratio of 33.31 and a beta of 1.45.

Gartner (NYSE:ITGet Rating) last issued its earnings results on Tuesday, August 2nd. The information technology services provider reported $2.85 EPS for the quarter, topping the consensus estimate of $2.15 by $0.70. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.32 billion. Gartner had a return on equity of 497.67% and a net margin of 14.42%. The business’s revenue was up 18.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.24 EPS. Sell-side analysts expect that Gartner will post 9.15 earnings per share for the current fiscal year.

Gartner announced that its Board of Directors has initiated a stock repurchase program on Tuesday, May 3rd that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 2.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Gartner

In other Gartner news, EVP Alwyn Dawkins sold 500 shares of Gartner stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $250.82, for a total transaction of $125,410.00. Following the sale, the executive vice president now owns 45,596 shares of the company’s stock, valued at approximately $11,436,388.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Gartner news, CEO Eugene A. Hall sold 10,425 shares of Gartner stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $294.26, for a total transaction of $3,067,660.50. Following the sale, the chief executive officer now owns 1,167,041 shares of the company’s stock, valued at approximately $343,413,484.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alwyn Dawkins sold 500 shares of Gartner stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $250.82, for a total value of $125,410.00. Following the sale, the executive vice president now directly owns 45,596 shares in the company, valued at approximately $11,436,388.72. The disclosure for this sale can be found here. Insiders have sold 17,951 shares of company stock valued at $5,188,596 in the last quarter. Corporate insiders own 3.70% of the company’s stock.

Institutional Trading of Gartner

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Ascent Group LLC raised its stake in shares of Gartner by 15.0% in the 2nd quarter. Ascent Group LLC now owns 1,689 shares of the information technology services provider’s stock worth $448,000 after buying an additional 220 shares in the last quarter. Interchange Capital Partners LLC raised its stake in shares of Gartner by 26.9% in the 2nd quarter. Interchange Capital Partners LLC now owns 1,834 shares of the information technology services provider’s stock worth $443,000 after buying an additional 389 shares in the last quarter. M&T Bank Corp raised its stake in shares of Gartner by 133.3% in the 2nd quarter. M&T Bank Corp now owns 12,137 shares of the information technology services provider’s stock worth $1,304,000 after buying an additional 6,934 shares in the last quarter. Pinebridge Investments L.P. raised its stake in shares of Gartner by 2.2% in the 2nd quarter. Pinebridge Investments L.P. now owns 93,183 shares of the information technology services provider’s stock worth $22,534,000 after buying an additional 2,026 shares in the last quarter. Finally, Zions Bancorporation N.A. raised its stake in shares of Gartner by 45.8% in the 2nd quarter. Zions Bancorporation N.A. now owns 1,133 shares of the information technology services provider’s stock worth $274,000 after buying an additional 356 shares in the last quarter. Institutional investors own 92.05% of the company’s stock.

Gartner Company Profile

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Gartner, Inc operates as a research and advisory company in the United States, Canada, Europe, the Middle East, Africa, and internationally. It operates through three segments: Research, Conferences, and Consulting. The Research segment delivers its research primarily through a subscription service that include on-demand access to published research content, data and benchmarks, and direct access to a network of research experts.

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