Gartner (NYSE:IT) Given New $565.00 Price Target at Robert W. Baird

Gartner (NYSE:IT) had its target price boosted by Robert W. Baird from $517.00 to $565.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the information technology services provider’s stock.

A number of other brokerages have also recently weighed in on IT. StockNews.com cut shares of Gartner from a buy rating to a hold rating in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Gartner in a research note on Tuesday, April 16th. They issued a hold rating and a $507.00 price objective for the company. UBS Group dropped their target price on shares of Gartner from $550.00 to $510.00 and set a buy rating for the company in a report on Wednesday, May 1st. BMO Capital Markets lowered their price target on shares of Gartner from $450.00 to $432.00 and set a market perform rating for the company in a report on Thursday, May 2nd. Finally, Morgan Stanley lifted their price target on shares of Gartner from $440.00 to $470.00 and gave the stock an equal weight rating in a report on Thursday, July 11th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $521.00.

Gartner Stock Down 2.8 %

Shares of NYSE:IT opened at $479.29 on Wednesday. The stock has a market cap of $37.21 billion, a P/E ratio of 47.69, a P/E/G ratio of 3.80 and a beta of 1.33. The firm has a fifty day moving average price of $449.91 and a 200 day moving average price of $455.15. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.91. Gartner has a 1-year low of $323.61 and a 1-year high of $509.15.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $3.02 by $0.20. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Gartner had a net margin of 13.67% and a return on equity of 142.05%. Gartner’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.85 EPS. Sell-side analysts predict that Gartner will post 11.58 EPS for the current year.

Insider Buying and Selling

In related news, CEO Eugene A. Hall sold 12,082 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $504.84, for a total value of $6,099,476.88. Following the sale, the chief executive officer now directly owns 1,143,389 shares of the company’s stock, valued at $577,228,502.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Gartner news, EVP Alwyn Dawkins sold 600 shares of Gartner stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $447.63, for a total transaction of $268,578.00. Following the transaction, the executive vice president now directly owns 51,583 shares of the company’s stock, valued at $23,090,098.29. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Eugene A. Hall sold 12,082 shares of Gartner stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $504.84, for a total transaction of $6,099,476.88. Following the transaction, the chief executive officer now directly owns 1,143,389 shares in the company, valued at $577,228,502.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,126 shares of company stock valued at $16,937,420. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of IT. Vanguard Group Inc. lifted its position in shares of Gartner by 0.7% during the first quarter. Vanguard Group Inc. now owns 8,974,760 shares of the information technology services provider’s stock worth $4,277,999,000 after purchasing an additional 60,786 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Gartner by 22.0% during the second quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock worth $852,014,000 after purchasing an additional 341,911 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Gartner by 12.0% during the fourth quarter. Wellington Management Group LLP now owns 1,852,820 shares of the information technology services provider’s stock worth $835,826,000 after purchasing an additional 198,274 shares in the last quarter. Brown Advisory Inc. lifted its position in shares of Gartner by 4.6% during the fourth quarter. Brown Advisory Inc. now owns 1,208,914 shares of the information technology services provider’s stock worth $545,353,000 after purchasing an additional 52,826 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Gartner by 18.5% during the fourth quarter. Franklin Resources Inc. now owns 920,716 shares of the information technology services provider’s stock worth $415,344,000 after purchasing an additional 143,556 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

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.