Barclays Increases Gartner (NYSE:IT) Price Target to $315.00

Gartner (NYSE:ITGet Rating) had its price objective lifted by research analysts at Barclays from $265.00 to $315.00 in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage presently has an “equal weight” rating on the information technology services provider’s stock. Barclays‘s target price would indicate a potential upside of 6.62% from the stock’s current price.

Several other research analysts have also commented on IT. Wells Fargo & Company initiated coverage on Gartner in a report on Tuesday, July 12th. They set an “overweight” rating and a $305.00 price objective for the company. 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. BMO Capital Markets cut their target price on Gartner from $315.00 to $265.00 and set a “market perform” rating for the company in a research note on Tuesday, June 21st. Morgan Stanley cut their target price on Gartner from $300.00 to $274.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 19th. Finally, Robert W. Baird upped their target price on Gartner from $334.00 to $365.00 in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $321.67.

Gartner Trading Up 0.7 %

Shares of Gartner stock opened at $295.44 on Thursday. Gartner has a 52-week low of $221.39 and a 52-week high of $368.99. The stock’s 50-day simple moving average is $251.55 and its 200 day simple moving average is $271.96. The stock has a market capitalization of $23.79 billion, a P/E ratio of 33.31 and a beta of 1.45. The company has a debt-to-equity ratio of 20.79, a quick ratio of 0.70 and a current ratio of 0.62.

Gartner (NYSE:ITGet Rating) last posted its earnings results on Tuesday, August 2nd. The information technology services provider reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.70. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.32 billion. Gartner had a return on equity of 497.67% and a net margin of 14.42%. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.24 EPS. As a group, research analysts anticipate that Gartner will post 9.15 EPS for the current year.

Gartner declared that its board has authorized a share repurchase plan on Tuesday, May 3rd that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to reacquire up to 2.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Gartner

In other Gartner news, CEO Eugene A. Hall sold 10,425 shares of the stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $294.26, for a total value of $3,067,660.50. Following the transaction, the chief executive officer now owns 1,167,041 shares of the company’s stock, valued at $343,413,484.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Robin B. Kranich sold 1,321 shares of the firm’s stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $256.95, for a total value of $339,430.95. Following the transaction, the executive vice president now owns 9,717 shares of the company’s stock, valued at $2,496,783.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eugene A. Hall sold 10,425 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $294.26, for a total value of $3,067,660.50. Following the completion of the transaction, the chief executive officer now directly owns 1,167,041 shares in the company, valued at approximately $343,413,484.66. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,951 shares of company stock valued at $5,188,596. 3.70% of the stock is owned by company insiders.

Institutional Trading of Gartner

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lindbrook Capital LLC grew its holdings in Gartner by 168.4% during the 2nd quarter. Lindbrook Capital LLC now owns 102 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 64 shares in the last quarter. Clearstead Advisors LLC purchased a new position in Gartner during the 1st quarter valued at approximately $27,000. Crewe Advisors LLC purchased a new position in Gartner during the 2nd quarter valued at approximately $30,000. Cambridge Trust Co. purchased a new position in Gartner during the 1st quarter valued at approximately $31,000. Finally, JFS Wealth Advisors LLC grew its holdings in Gartner by 588.2% during the 1st quarter. JFS Wealth Advisors LLC now owns 117 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 100 shares in the last quarter. Institutional investors own 92.05% of the company’s stock.

About Gartner

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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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