Gartner (NYSE: IT – Get Rating) had its price target decreased by analysts at BMO Capital Markets from $ 315.00 to $ 265.00 in a research note issued to investors on Tuesday, The Fly reports. BMO Capital Markets’ target price indicates a potential upside of 13.18% from the company previous close.
A number of other brokerages also recently issued reports on IT. Bank of America raised Gartner from a “neutral” rating to a “buy” rating and set a $ 340.00 target price for the company in a research note on Thursday, April 14th. TheStreet downgraded Gartner from a “b” rating to a “c +” rating in a research note on Tuesday, May 3rd. Morgan Stanley cut their target price on Gartner from $ 316.00 to $ 300.00 and set an “equal weight” rating for the company in a research note on Thursday, May 26th. Finally, StockNews.com assumed coverage on Gartner in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $ 326.00.
NYSE: IT opened at $ 234.14 on Tuesday. The stock has a 50-day simple moving average of $ 263.37 and a 200-day simple moving average of $ 285.48. The stock has a market cap of $ 18.86 billion, a P / E ratio of 24.72 and a beta of 1.50. Gartner has a 1 year low of $ 221.39 and a 1 year high of $ 368.99. The company has a debt-to-equity ratio of 20.79, a quick ratio of 0.70 and a current ratio of 0.70.
Gartner (NYSE: IT – Get Rating) last released its quarterly earnings data on Tuesday, May 3rd. The information technology services provider reported $ 2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $ 1.89 by $ 0.44. The business had revenue of $ 1.26 billion during the quarter, compared to analysts’ expectations of $ 1.24 billion. Gartner had a return on equity of 239.82% and a net margin of 16.39%. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $ 2.00 EPS. On average, equities research analysts predict that Gartner will post 8.14 EPS for the current year.
Gartner announced that its Board of Directors has approved a share repurchase plan on Tuesday, May 3rd that authorizes the company to buyback $ 500.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 2.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company board believes its shares are undervalued.
In related news, Director Anne Sutherland Fuchs sold 224 shares of the stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $ 266.71, for a total value of $ 59,743.04. Following the transaction, the director now directly owns 19,455 shares of the company stock, valued at approximately $ 5,188,843.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jules Kaufman sold 4,541 shares of the stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $ 271.27, for a total value of $ 1,231,837.07. Following the completion of the transaction, the executive vice president now directly owns 4,641 shares in the company, valued at $ 1,258,964.07. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,586 shares of company stock worth $ 1,756,421. 3.70% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of IT. Vanguard Group Inc. raised its position in Gartner by 1.1% in the first quarter. Vanguard Group Inc. now owns 9,198,161 shares of the information technology services provider’s stock valued at $ 2,736,085,000 after purchasing an additional 102,709 shares during the period. BlackRock Inc. increased its position in shares of Gartner by 2.8% during the first quarter. BlackRock Inc. now owns 6,446,779 shares of the information technology services provider’s stock worth $ 1,917,660,000 after acquiring an additional 173,532 shares during the last quarter. EP Wealth Advisors LLC increased its position in shares of Gartner by 371,624.8% during the third quarter. EP Wealth Advisors LLC now owns 4,668,863 shares of the information technology services provider’s stock worth $ 366,000 after acquiring an additional 4,667,607 shares during the last quarter. State Street Corp increased its position in shares of Gartner by 2.1% during the fourth quarter. State Street Corp now owns 3,273,310 shares of the information technology services provider’s stock worth $ 1,094,333,000 after acquiring an additional 68,873 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Gartner by 20.3% during the first quarter. Wellington Management Group LLP now owns 2,029,738 shares of the information technology services provider’s stock worth $ 603,766,000 after acquiring an additional 342,228 shares during the last quarter. 92.05% of the stock is currently owned by institutional investors and hedge funds.
Gartner Company Profile: (Get Rating)
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 includes on-demand access to published research content, data and benchmarks, and direct access to a network of research experts.
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