Gartner, Inc. (NYSE:IT – Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $474.18 and last traded at $473.78, with a volume of 9725 shares traded. The stock had previously closed at $471.48.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on IT shares. BMO Capital Markets upped their price target on Gartner from $444.00 to $450.00 and gave the company a “market perform” rating in a report on Thursday, February 8th. Wells Fargo & Company upped their target price on shares of Gartner from $380.00 to $435.00 and gave the company an “overweight” rating in a report on Friday, December 15th. UBS Group lifted their price target on shares of Gartner from $412.00 to $490.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 6th. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a report on Saturday, February 10th. Finally, Morgan Stanley increased their price objective on Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $455.25.
Gartner Price Performance
The stock has a fifty day moving average of $453.61 and a two-hundred day moving average of $405.66. The stock has a market cap of $36.70 billion, a price-to-earnings ratio of 42.63, a price-to-earnings-growth ratio of 4.31 and a beta of 1.29. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.60.
Gartner (NYSE:IT – Get Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.21. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Gartner had a net margin of 14.94% and a return on equity of 156.35%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $3.70 EPS. On average, equities research analysts anticipate that Gartner, Inc. will post 11.36 earnings per share for the current year.
Insider Buying and Selling
In related news, EVP Yvonne Genovese sold 560 shares of Gartner stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $457.37, for a total transaction of $256,127.20. Following the completion of the transaction, the executive vice president now directly owns 2,398 shares in the company, valued at approximately $1,096,773.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Yvonne Genovese sold 560 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $457.37, for a total value of $256,127.20. Following the completion of the transaction, the executive vice president now owns 2,398 shares of the company’s stock, valued at approximately $1,096,773.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James C. Smith sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $459.68, for a total transaction of $4,596,800.00. Following the transaction, the director now directly owns 623,235 shares in the company, valued at approximately $286,488,664.80. The disclosure for this sale can be found here. Insiders have sold a total of 22,998 shares of company stock worth $10,570,667 in the last quarter. Company insiders own 3.90% of the company’s stock.
Hedge Funds Weigh In On Gartner
A number of large investors have recently bought and sold shares of IT. Fox Run Management L.L.C. acquired a new position in shares of Gartner in the 3rd quarter valued at about $230,000. BNP Paribas Arbitrage SNC raised its stake in shares of Gartner by 10.1% in the 2nd quarter. BNP Paribas Arbitrage SNC now owns 141,851 shares of the information technology services provider’s stock valued at $49,692,000 after acquiring an additional 12,972 shares during the period. Stifel Financial Corp raised its position in Gartner by 32.6% in the third quarter. Stifel Financial Corp now owns 33,817 shares of the information technology services provider’s stock valued at $11,620,000 after purchasing an additional 8,319 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Gartner by 60.7% in the third quarter. Envestnet Asset Management Inc. now owns 323,573 shares of the information technology services provider’s stock valued at $111,183,000 after buying an additional 122,248 shares in the last quarter. Finally, TIAA Trust National Association purchased a new stake in shares of Gartner during the 3rd quarter valued at about $242,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.
Gartner Company Profile
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.