Gartner, Inc. (IT) Receives Outperform Rating from BMO Capital Markets

BMO Capital Markets reaffirmed their outperform rating on shares of Gartner, Inc. (NYSE:IT) in a report issued on Monday morning. The brokerage currently has a $132.00 price target on the information technology services provider’s stock, down from their prior price target of $137.00.

Several other research firms have also recently weighed in on IT. Royal Bank Of Canada restated a top pick rating and issued a $142.00 price objective (up previously from $130.00) on shares of Gartner in a research report on Friday, July 21st. Zacks Investment Research raised shares of Gartner from a hold rating to a buy rating and set a $142.00 target price on the stock in a research note on Wednesday, July 19th. BidaskClub lowered shares of Gartner from a strong-buy rating to a buy rating in a research note on Wednesday, August 9th. Credit Suisse Group reaffirmed an outperform rating and issued a $138.00 target price (up previously from $130.00) on shares of Gartner in a research note on Wednesday, August 9th. Finally, TheStreet lowered shares of Gartner from a b rating to a c+ rating in a research note on Tuesday, August 8th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $126.89.

Shares of Gartner (NYSE IT) traded down 1.05% during mid-day trading on Monday, hitting $119.06. 151,730 shares of the stock were exchanged. Gartner has a 1-year low of $84.54 and a 1-year high of $130.02. The firm has a market cap of $10.79 billion, a price-to-earnings ratio of 244.48 and a beta of 1.05. The company’s 50-day moving average is $124.99 and its 200-day moving average is $114.61.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, August 8th. The information technology services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.05. The firm had revenue of $843.73 million during the quarter, compared to analysts’ expectations of $892.64 million. Gartner had a net margin of 1.50% and a return on equity of 103.10%. The company’s quarterly revenue was up 38.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.75 EPS. Equities research analysts anticipate that Gartner will post $3.41 earnings per share for the current fiscal year.

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In related news, SVP Alwyn Dawkins sold 1,400 shares of Gartner stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $116.05, for a total transaction of $162,470.00. Following the transaction, the senior vice president now owns 29,085 shares of the company’s stock, valued at approximately $3,375,314.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eugene A. Hall sold 38,800 shares of Gartner stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $117.86, for a total transaction of $4,572,968.00. Following the transaction, the chief executive officer now directly owns 1,304,375 shares in the company, valued at approximately $153,733,637.50. The disclosure for this sale can be found here. Insiders have sold a total of 51,125 shares of company stock worth $6,030,127 in the last three months. 4.40% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teachers Advisors LLC raised its position in Gartner by 21.1% in the fourth quarter. Teachers Advisors LLC now owns 84,611 shares of the information technology services provider’s stock valued at $8,552,000 after buying an additional 14,729 shares during the last quarter. Raymond James Trust N.A. bought a new position in shares of Gartner during the first quarter worth $208,000. Creative Planning raised its position in shares of Gartner by 35.8% in the first quarter. Creative Planning now owns 1,927 shares of the information technology services provider’s stock worth $208,000 after buying an additional 508 shares during the last quarter. Gulf International Bank UK Ltd raised its position in shares of Gartner by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 25,500 shares of the information technology services provider’s stock worth $2,753,000 after buying an additional 360 shares during the last quarter. Finally, Capstone Asset Management Co. raised its position in shares of Gartner by 3.6% in the first quarter. Capstone Asset Management Co. now owns 8,829 shares of the information technology services provider’s stock worth $953,000 after buying an additional 310 shares during the last quarter. 87.56% of the stock is currently owned by institutional investors and hedge funds.

About Gartner

Gartner, Inc is an information technology research and advisory company. The Company works with clients to research, analyze and interpret the business of information technology (IT), supply chain and marketing within the context of their individual roles. It operates in three segments: Research, Consulting and Events.

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