Gartner, Inc. (IT) Given Buy Rating at BMO Capital Markets
BMO Capital Markets reissued their buy rating on shares of Gartner, Inc. (NYSE:IT) in a research note published on Wednesday morning. They currently have a $132.00 price objective on the information technology services provider’s stock.
A number of other equities research analysts have also commented on the company. BidaskClub lowered Gartner from a strong-buy rating to a buy rating in a research report on Wednesday, August 9th. Zacks Investment Research upgraded Gartner from a hold rating to a buy rating and set a $142.00 price target on the stock in a research report on Wednesday, July 19th. TheStreet lowered Gartner from a b rating to a c+ rating in a research report on Tuesday, August 8th. Piper Jaffray Companies restated a hold rating and set a $105.00 price target on shares of Gartner in a research report on Thursday, August 31st. Finally, Credit Suisse Group restated an outperform rating and set a $138.00 price target (up from $130.00) on shares of Gartner in a research report on Wednesday, August 9th. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Gartner currently has an average rating of Buy and an average target price of $126.56.
Gartner (NYSE IT) traded down 0.14% on Wednesday, reaching $122.75. The company had a trading volume of 191,518 shares. Gartner has a one year low of $84.54 and a one year high of $130.02. The company has a 50-day moving average of $122.00 and a 200 day moving average of $119.16. The stock has a market cap of $11.12 billion, a price-to-earnings ratio of 252.05 and a beta of 1.07.
Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, August 8th. The information technology services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.05. Gartner had a return on equity of 103.10% and a net margin of 1.50%. The company had revenue of $843.73 million for the quarter, compared to analyst estimates of $892.64 million. During the same period in the prior year, the company posted $0.75 EPS. The company’s revenue was up 38.3% compared to the same quarter last year. On average, equities research analysts predict that Gartner will post $3.41 EPS for the current year.
In other Gartner news, SVP Robin B. Kranich sold 7,487 shares of the stock in a transaction on Friday, September 1st. The stock was 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 approximately $2,557,463.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anne Sutherland Fuchs sold 5,000 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $117.02, for a total value of $585,100.00. Following the completion of the transaction, the director now owns 29,895 shares in the company, valued at $3,498,312.90. The disclosure for this sale can be found here. Insiders sold a total of 23,363 shares of company stock worth $2,775,387 over the last quarter. Corporate insiders own 4.40% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in IT. Advisory Services Network LLC boosted its position in Gartner by 466.7% in the 2nd quarter. Advisory Services Network LLC now owns 969 shares of the information technology services provider’s stock valued at $120,000 after buying an additional 798 shares during the last quarter. Benjamin F. Edwards & Company Inc. bought a new position in Gartner in the 2nd quarter valued at $124,000. Bronfman E.L. Rothschild L.P. boosted its position in Gartner by 9.5% in the 2nd 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 buying an additional 103 shares during the last quarter. Commonwealth Bank of Australia boosted its position in Gartner by 20.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,200 shares of the information technology services provider’s stock valued at $148,000 after buying an additional 200 shares during the last quarter. Finally, Global X Management Co. LLC boosted its position in Gartner by 31.6% in the 1st quarter. Global X Management Co. LLC now owns 1,725 shares of the information technology services provider’s stock valued at $186,000 after buying an additional 414 shares during the last quarter. Hedge funds and other institutional investors own 91.95% of the company’s stock.
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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