Gartner (NYSE:IT) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Gartner (NYSE:IT) had its price target lifted by research analysts at Wells Fargo & Company from $460.00 to $470.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the information technology services provider’s stock. Wells Fargo & Company‘s target price points to a potential downside of 14.36% from the company’s previous close.

A number of other equities research analysts have also issued reports on IT. Bank of America increased their price target on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Robert W. Baird upped their price target on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research note on Wednesday. BMO Capital Markets boosted their target price on shares of Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Gartner has a consensus rating of “Hold” and a consensus target price of $539.25.

Gartner Stock Performance

NYSE:IT traded up $8.06 during mid-day trading on Wednesday, hitting $548.81. 85,740 shares of the company traded hands, compared to its average volume of 367,010. The stock’s fifty day moving average price is $511.54 and its 200-day moving average price is $473.53. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 3.80. Gartner has a one year low of $397.43 and a one year high of $548.81. The firm has a market cap of $42.29 billion, a price-to-earnings ratio of 51.81, a price-to-earnings-growth ratio of 3.14 and a beta of 1.32.

Gartner (NYSE:IT) last released its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.05. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.56 EPS. Research analysts anticipate that Gartner will post 11.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Eugene A. Hall sold 34,060 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the sale, the chief executive officer now directly owns 1,143,401 shares in the company, valued at approximately $577,874,865.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Gartner news, CEO Eugene A. Hall sold 34,060 shares of Gartner stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the completion of the transaction, the chief executive officer now directly owns 1,143,401 shares of the company’s stock, valued at $577,874,865.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Claire Herkes sold 478 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $506.01, for a total transaction of $241,872.78. Following the completion of the sale, the executive vice president now owns 1,905 shares of the company’s stock, valued at $963,949.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,899 shares of company stock valued at $24,959,886 in the last three months. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Eastern Bank purchased a new position in Gartner during the 3rd quarter valued at $26,000. Central Pacific Bank Trust Division purchased a new stake in shares of Gartner during the first quarter valued at $36,000. Crewe Advisors LLC boosted its stake in shares of Gartner by 223.3% during the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after purchasing an additional 67 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Gartner in the third quarter worth about $44,000. Finally, Fortitude Family Office LLC increased its stake in Gartner by 23.8% in the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after buying an additional 20 shares during the period. Institutional investors own 91.51% of the company’s stock.

Gartner Company Profile

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.