StockNews.com downgraded shares of Gartner (NYSE:IT – Free Report) from a buy rating to a hold rating in a research note published on Tuesday morning.
IT has been the topic of a number of other research reports. Robert W. Baird upped their target price on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Wells Fargo & Company lowered their target price on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. Morgan Stanley upped their price objective on shares of Gartner from $560.00 to $564.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Finally, Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, Gartner currently has an average rating of “Hold” and an average price target of $551.88.
Check Out Our Latest Analysis on IT
Gartner Stock Performance
Gartner (NYSE:IT – Get Free Report) last posted its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.56 earnings per share. Equities research analysts anticipate that Gartner will post 11.87 earnings per share for the current year.
Insider Transactions at Gartner
In other news, EVP Claire Herkes sold 411 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total transaction of $214,229.64. Following the transaction, the executive vice president now directly owns 1,494 shares in the company, valued at approximately $778,732.56. This represents a 21.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William James Wartinbee III sold 189 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $523.54, for a total transaction of $98,949.06. Following the transaction, the executive vice president now owns 7,311 shares in the company, valued at $3,827,600.94. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,583 shares of company stock worth $19,241,974. Corporate insiders own 3.60% of the company’s stock.
Institutional Investors Weigh In On Gartner
Several large investors have recently made changes to their positions in IT. Eastern Bank bought a new stake in shares of Gartner during the third quarter worth $26,000. Ashton Thomas Securities LLC bought a new stake in shares of Gartner during the third quarter worth $44,000. True Wealth Design LLC increased its position in shares of Gartner by 2,350.0% during the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after acquiring an additional 94 shares in the last quarter. Fortitude Family Office LLC increased its position in shares of Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after acquiring an additional 20 shares in the last quarter. Finally, Asset Dedication LLC grew its position in Gartner by 46.5% in the third quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock valued at $75,000 after purchasing an additional 47 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.
About Gartner
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.
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