Robert W. Baird Issues Positive Forecast for Gartner (NYSE:IT) Stock Price

Gartner (NYSE:IT) had its target price hoisted by Robert W. Baird from $565.00 to $590.00 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.

Several other research analysts also recently commented on the stock. Bank of America raised their price target on shares of Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Wells Fargo & Company raised their price objective on Gartner from $435.00 to $460.00 and gave the stock an “underweight” rating in a report on Monday, October 14th. BMO Capital Markets upped their target price on Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. Finally, UBS Group raised their price target on Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $539.25.

Gartner Trading Up 0.4 %

Gartner stock traded up $2.03 during midday trading on Wednesday, reaching $538.93. The stock had a trading volume of 28,778 shares, compared to its average volume of 367,206. Gartner has a 52-week low of $396.60 and a 52-week high of $542.13. The company has a fifty day moving average of $510.44 and a 200 day moving average of $473.06. The firm has a market cap of $41.53 billion, a price-to-earnings ratio of 51.13, a price-to-earnings-growth ratio of 3.14 and a beta of 1.32. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 3.80.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.05. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. Gartner’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $2.56 EPS. On average, analysts anticipate that Gartner will post 11.65 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Akhil Jain sold 400 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $485.00, for a total value of $194,000.00. Following the transaction, the executive vice president now directly owns 4,839 shares of the company’s stock, valued at approximately $2,346,915. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Akhil Jain sold 400 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $485.00, for a total value of $194,000.00. Following the sale, the executive vice president now owns 4,839 shares in the company, valued at $2,346,915. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Claire Herkes sold 478 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $506.01, for a total transaction of $241,872.78. Following the transaction, the executive vice president now owns 1,905 shares of the company’s stock, valued at $963,949.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,899 shares of company stock worth $24,959,886 over the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Sustainable Growth Advisers LP acquired a new stake in shares of Gartner during the 2nd quarter valued at about $266,541,000. Principal Financial Group Inc. grew its holdings in Gartner by 22.0% in the second quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock valued at $852,014,000 after purchasing an additional 341,911 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Gartner by 38.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 414,559 shares of the information technology services provider’s stock valued at $197,608,000 after buying an additional 114,610 shares in the last quarter. Natixis Advisors LLC raised its stake in shares of Gartner by 117.4% during the 2nd quarter. Natixis Advisors LLC now owns 200,097 shares of the information technology services provider’s stock worth $89,856,000 after buying an additional 108,061 shares during the period. Finally, Swedbank AB purchased a new position in shares of Gartner during the 1st quarter valued at approximately $30,735,000. 91.51% of the stock is owned by institutional investors and hedge funds.

About Gartner

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.