Robert W. Baird Reiterates “Buy” Rating for Gartner, Inc. (IT)

Gartner, Inc. (NYSE:IT)‘s stock had its “buy” rating restated by equities researchers at Robert W. Baird in a research report issued on Friday. They currently have a $135.00 price target on the information technology services provider’s stock. Robert W. Baird’s target price would indicate a potential upside of 13.77% from the stock’s previous close.

Several other research analysts have also issued reports on the company. Zacks Investment Research lowered Gartner from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. BMO Capital Markets restated an “outperform” rating and issued a $132.00 price target (down from $137.00) on shares of Gartner in a research report on Monday, August 14th. Morgan Stanley raised their price target on Gartner from $118.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Monday, October 23rd. Royal Bank Of Canada restated a “top pick” rating and issued a $142.00 price target (up from $130.00) on shares of Gartner in a research report on Friday, July 21st. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $105.00 price target on shares of Gartner in a research report on Thursday, August 31st. Six 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. Gartner presently has an average rating of “Buy” and a consensus price target of $129.40.

Shares of Gartner (NYSE IT) traded down $6.94 on Friday, reaching $118.66. The company’s stock had a trading volume of 833,633 shares, compared to its average volume of 659,656. The stock has a market capitalization of $10.90 billion, a P/E ratio of 38.82, a price-to-earnings-growth ratio of 2.20 and a beta of 1.08. The company has a debt-to-equity ratio of 3.68, a quick ratio of 0.78 and a current ratio of 0.78.

Gartner (NYSE:IT) last announced its quarterly earnings data on Thursday, November 2nd. The information technology services provider reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.13. The firm had revenue of $828.09 million for the quarter, compared to analyst estimates of $826.09 million. Gartner had a positive return on equity of 79.86% and a negative net margin of 1.25%. The business’s quarterly revenue was up 44.3% compared to the same quarter last year. During the same period last year, the company earned $0.58 EPS. equities analysts predict that Gartner will post 3.42 earnings per share for the current year.

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In related news, Director Anne Sutherland Fuchs sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $117.02, for a total transaction of $585,100.00. Following the sale, the director now owns 29,895 shares of the company’s stock, valued at approximately $3,498,312.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Alwyn Dawkins sold 1,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $118.62, for a total value of $118,620.00. Following the sale, the senior vice president now directly owns 27,137 shares in the company, valued at approximately $3,218,990.94. The disclosure for this sale can be found here. Insiders have sold a total of 23,363 shares of company stock worth $2,775,387 in the last ninety days. 4.30% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in IT. Janus Henderson Group PLC raised its stake in shares of Gartner by 1,426.9% in the 2nd quarter. Janus Henderson Group PLC now owns 4,278,595 shares of the information technology services provider’s stock valued at $528,449,000 after purchasing an additional 3,998,373 shares during the period. Vanguard Group Inc. raised its stake in shares of Gartner by 32.4% in the 2nd quarter. Vanguard Group Inc. now owns 8,680,305 shares of the information technology services provider’s stock valued at $1,072,104,000 after purchasing an additional 2,125,783 shares during the period. State Street Corp raised its stake in shares of Gartner by 31.9% in the 2nd quarter. State Street Corp now owns 3,585,747 shares of the information technology services provider’s stock valued at $442,867,000 after purchasing an additional 867,040 shares during the period. Principal Financial Group Inc. raised its stake in shares of Gartner by 525.5% in the 3rd quarter. Principal Financial Group Inc. now owns 909,985 shares of the information technology services provider’s stock valued at $113,211,000 after purchasing an additional 764,504 shares during the period. Finally, Artisan Partners Limited Partnership raised its stake in shares of Gartner by 54.3% in the 2nd quarter. Artisan Partners Limited Partnership now owns 1,846,952 shares of the information technology services provider’s stock valued at $228,117,000 after purchasing an additional 649,942 shares during the period. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

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.

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