According to Zacks, “Gartner, Inc. is a research and advisory firm that helps clients understand technology and drive business growth. Gartner’s divisions consist of Gartner Research, Gartner Consulting, Gartner Measurement and Gartner Events. Gartner has the most comprehensive body of global research that reports on and analyzes the technologies that drive business and organizational success. Gartner Consulting leverages the company’s industry-leading research capabilities to deliver hands-on client support, from strategy to measurable results. “
Several other research firms have also recently weighed in on IT. Morgan Stanley set a $101.00 price objective on Gartner and gave the stock a hold rating in a research report on Friday, August 5th. BMO Capital Markets reiterated a hold rating and set a $100.00 price objective on shares of Gartner in a research report on Friday, August 5th. Piper Jaffray Cos. reiterated a neutral rating and set a $90.00 price objective (down previously from $93.00) on shares of Gartner in a research report on Monday, August 8th. Cantor Fitzgerald reiterated a buy rating on shares of Gartner in a research report on Friday, August 19th. Finally, Macquarie started coverage on Gartner in a research report on Thursday, August 25th. They set an outperform rating and a $108.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $99.08.
Gartner (NYSE:IT) opened at 88.28 on Wednesday. The company’s 50-day moving average is $90.05 and its 200 day moving average is $93.87. Gartner has a 12 month low of $77.80 and a 12 month high of $103.00. The firm has a market cap of $7.29 billion, a P/E ratio of 40.26 and a beta of 1.03.
Gartner (NYSE:IT) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.67 by $0.02. The firm had revenue of $610 million for the quarter, compared to the consensus estimate of $596.78 million. Gartner had a negative return on equity of 197.12% and a net margin of 7.97%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 EPS. Equities research analysts expect that Gartner will post $2.81 EPS for the current fiscal year.
In other news, Director Karen E. Dykstra sold 3,086 shares of Gartner stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $90.98, for a total transaction of $280,764.28. Following the sale, the director now directly owns 18,763 shares of the company’s stock, valued at $1,707,057.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP David Godfrey sold 10,198 shares of Gartner stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $94.10, for a total value of $959,631.80. Following the sale, the senior vice president now directly owns 29,570 shares in the company, valued at $2,782,537. The disclosure for this sale can be found here. 4.40% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in the stock. Mizuho Asset Management Co. Ltd. purchased a new stake in shares of Gartner during the second quarter worth approximately $106,000. First Mercantile Trust Co. bought a new position in Gartner during the second quarter worth approximately $174,000. Acadian Asset Management LLC bought a new position in Gartner during the second quarter worth approximately $179,000. Bessemer Group Inc. raised its position in Gartner by 157.0% in the first quarter. Bessemer Group Inc. now owns 2,141 shares of the company’s stock worth $192,000 after buying an additional 1,308 shares in the last quarter. Finally, Advisor Group Inc. bought a new position in Gartner during the second quarter worth approximately $197,000. 90.45% of the stock is currently owned by hedge funds and other institutional investors.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Gartner Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gartner Inc. and related companies with MarketBeat.com's FREE daily email newsletter.