Gartner’s (IT) “Buy” Rating Reaffirmed at Cantor Fitzgerald

Gartner, Inc. (NYSE:IT)‘s stock had its “buy” rating reiterated by research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Thursday. They presently have a $139.00 price objective on the information technology services provider’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 10.92% from the stock’s current price.

The analysts wrote, “3Q17 revenue and earnings top estimates. Total revenue was $891.7 mn, up 55.3% y/y (+14% organic cc), vs. our estimate of $871.8 mn and the $868.6 mn FactSet consensus. Research revenue was $653.4 mn, up 40.0% y/y (+16% organic cc). Consulting revenue was $72.1 mn, down -2.2% y/y (-3% y/y organic cc). Events revenue was $45.0 mn, up 34.3% y/y (+22% organic cc). New Talent Assessment & Other segment revenues were $57.6 mn. The deferred revenue fair value assessment was $63.7 mn. Non-GAAP EPS was $0.65, vs. our estimate of $0.51 and the consensus of $0.52. Our performance table is on p.””

IT has been the subject of several other research reports. Zacks Investment Research raised shares of Gartner from a “hold” rating to a “buy” rating and set a $139.00 target price for the company in a research note on Monday, October 16th. Royal Bank Of Canada reaffirmed a “top pick” rating and set a $142.00 price objective (up previously from $130.00) on shares of Gartner in a research note on Friday, July 21st. TheStreet downgraded shares of Gartner from a “b” rating to a “c+” rating in a research note on Tuesday, August 8th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $105.00 price objective on shares of Gartner in a research note on Thursday, August 31st. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $138.00 price objective (up previously from $130.00) on shares of Gartner in a research note on Wednesday, August 9th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $128.89.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, August 8th. The information technology services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.83 by $0.05. Gartner had a net margin of 1.50% and a return on equity of 103.10%. The business had revenue of $843.73 million for the quarter, compared to analyst estimates of $892.64 million. During the same period in the previous year, the firm earned $0.75 EPS. The business’s revenue for the quarter was up 38.3% compared to the same quarter last year.

COPYRIGHT VIOLATION WARNING: “Gartner’s (IT) “Buy” Rating Reaffirmed at Cantor Fitzgerald” was originally reported by Community Financial News and is the sole property of of Community Financial News. If you are viewing this article on another website, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The legal version of this article can be accessed at https://www.com-unik.info/2017/11/02/gartners-it-buy-rating-reaffirmed-at-cantor-fitzgerald.html.

In other news, SVP Alwyn Dawkins sold 1,000 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $118.62, for a total transaction of $118,620.00. Following the completion of the transaction, the senior vice president now directly owns 27,137 shares in the company, valued at approximately $3,218,990.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Robin B. Kranich sold 7,487 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $120.08, for a total value of $899,038.96. Following the transaction, the senior vice president now owns 21,298 shares of the company’s stock, valued at $2,557,463.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,363 shares of company stock valued at $2,775,387. 4.30% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Creative Planning boosted its stake in shares of Gartner by 1.2% during the 2nd quarter. Creative Planning now owns 1,950 shares of the information technology services provider’s stock valued at $241,000 after buying an additional 23 shares during the last quarter. Raymond James Trust N.A. boosted its stake in shares of Gartner by 1.3% during the 2nd quarter. Raymond James Trust N.A. now owns 1,952 shares of the information technology services provider’s stock valued at $241,000 after buying an additional 26 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Gartner by 0.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 13,047 shares of the information technology services provider’s stock valued at $1,611,000 after buying an additional 47 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Gartner by 1.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,832 shares of the information technology services provider’s stock valued at $473,000 after buying an additional 50 shares during the last quarter. Finally, Cigna Investments Inc. New boosted its stake in shares of Gartner by 3.1% during the 2nd quarter. Cigna Investments Inc. New now owns 3,426 shares of the information technology services provider’s stock valued at $423,000 after buying an additional 102 shares during the last quarter. Institutional investors own 92.14% of the company’s stock.

Gartner Company Profile

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.

Analyst Recommendations for Gartner (NYSE:IT)

What are top analysts saying about Gartner Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Gartner Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit