Gartner (IT) – Investment Analysts’ Recent Ratings Updates

Gartner (NYSE: IT) has recently received a number of price target changes and ratings updates:

• 5/1/2024 – Gartner had its price target lowered by analysts at Robert W. Baird from $536.00 to $517.00. They now have an “outperform” rating on the stock.
• 5/1/2024 – Gartner had its price target lowered by analysts at UBS Group AG from $550.00 to $510.00. They now have a “buy” rating on the stock.
• 4/16/2024 – Gartner is now covered by analysts at Deutsche Bank Aktiengesellschaft. They set a “hold” rating and a $507.00 price target on the stock.
• 4/11/2024 – Gartner was upgraded by analysts at UBS Group AG from a “neutral” rating to a “buy” rating. They now have a $550.00 price target on the stock, up previously from $484.00.

Gartner Trading Up 2.4 %

NYSE:IT opened at $422.39 on Thursday. Gartner, Inc. has a one year low of $295.43 and a one year high of $486.54. The company has a market cap of $32.93 billion, a PE ratio of 42.03, a PEG ratio of 3.59 and a beta of 1.32. The company has a debt-to-equity ratio of 3.60, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a 50-day moving average of $463.85 and a 200-day moving average of $439.90.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.40. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.47 billion. Gartner had a return on equity of 147.74% and a net margin of 13.35%. During the same quarter last year, the company earned $2.88 earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, equities research analysts expect that Gartner, Inc. will post 11.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Claire Herkes sold 1,460 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $475.76, for a total value of $694,609.60. Following the transaction, the executive vice president now directly owns 2,842 shares of the company’s stock, valued at approximately $1,352,109.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director James C. Smith sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $455.00, for a total value of $2,275,000.00. Following the sale, the director now directly owns 638,235 shares in the company, valued at approximately $290,396,925. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Claire Herkes sold 1,460 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $475.76, for a total transaction of $694,609.60. Following the transaction, the executive vice president now owns 2,842 shares of the company’s stock, valued at approximately $1,352,109.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,952 shares of company stock worth $10,598,070. 3.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IT. Fox Run Management L.L.C. bought a new position in shares of Gartner in the third quarter valued at approximately $230,000. RFG Advisory LLC increased its position in shares of Gartner by 37.2% in the fourth quarter. RFG Advisory LLC now owns 1,589 shares of the information technology services provider’s stock worth $717,000 after purchasing an additional 431 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Gartner by 169.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 37,708 shares of the information technology services provider’s stock worth $17,010,000 after buying an additional 23,701 shares during the last quarter. Chapin Davis Inc. bought a new position in Gartner in the fourth quarter valued at $960,000. Finally, Stifel Financial Corp lifted its stake in Gartner by 32.6% during the third quarter. Stifel Financial Corp now owns 33,817 shares of the information technology services provider’s stock worth $11,620,000 after purchasing an additional 8,319 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

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.