Gartner Inc. (IT) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Gartner Inc. (NYSE:IT) have received an average recommendation of “Hold” from the thirteen ratings firms that are covering the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $100.56.
IT has been the subject of several recent research reports. Morgan Stanley set a $101.00 price target on Gartner and gave the company a “hold” rating in a report on Friday, August 5th. Zacks Investment Research raised shares of Gartner from a “sell” rating to a “hold” rating in a research report on Friday, July 22nd. BMO Capital Markets reissued a “hold” rating and issued a $100.00 price objective on shares of Gartner in a research report on Friday, August 5th. Piper Jaffray Cos. reissued a “neutral” rating and issued a $90.00 price objective (down from $93.00) on shares of Gartner in a research report on Monday, August 8th. Finally, Cantor Fitzgerald reissued a “buy” rating on shares of Gartner in a research report on Friday, August 19th.
In other Gartner news, Director Karen E. Dykstra sold 3,086 shares of the firm’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $90.98, for a total value of $280,764.28. Following the transaction, the director now owns 18,763 shares of the company’s stock, valued at $1,707,057.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David Godfrey sold 10,198 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $94.10, for a total transaction of $959,631.80. Following the completion of the transaction, the senior vice president now directly owns 29,570 shares in the company, valued at approximately $2,782,537. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. GW&K Investment Management LLC raised its stake in shares of Gartner by 16.5% in the second quarter. GW&K Investment Management LLC now owns 179,337 shares of the company’s stock valued at $17,469,000 after buying an additional 25,412 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Gartner by 4.1% in the first quarter. Geode Capital Management LLC now owns 541,791 shares of the company’s stock valued at $48,382,000 after buying an additional 21,134 shares during the last quarter. Aristotle Capital Boston LLC raised its stake in shares of Gartner by 1.8% in the first quarter. Aristotle Capital Boston LLC now owns 38,249 shares of the company’s stock valued at $3,418,000 after buying an additional 673 shares during the last quarter. AXA purchased a new stake in shares of Gartner during the first quarter valued at approximately $554,000. Finally, Genesee Valley Trust Co. raised its stake in shares of Gartner by 2.2% in the second quarter. Genesee Valley Trust Co. now owns 11,752 shares of the company’s stock valued at $1,145,000 after buying an additional 250 shares during the last quarter. 90.45% of the stock is currently owned by hedge funds and other institutional investors.
Gartner (NYSE:IT) traded down 1.34% on Thursday, reaching $87.61. The company had a trading volume of 82,824 shares. The firm has a market capitalization of $7.24 billion, a price-to-earnings ratio of 39.95 and a beta of 1.03. Gartner has a 52-week low of $77.80 and a 52-week high of $103.00. The stock’s 50-day moving average price is $89.63 and its 200 day moving average price is $93.88.
Gartner (NYSE:IT) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by $0.02. Gartner had a net margin of 7.97% and a negative return on equity of 197.12%. The company earned $610 million during the quarter, compared to analyst estimates of $596.78 million. During the same quarter in the prior year, the company posted $0.65 earnings per share. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, equities analysts anticipate that Gartner will post $2.81 earnings per share for the current fiscal year.
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