Truist Financial Begins Coverage on Gartner (NYSE:IT)

Research analysts at Truist Financial started coverage on shares of Gartner (NYSE:IT) in a research report issued on Thursday, MarketBeat.com reports. The brokerage set a “buy” rating and a $300.00 price target on the information technology services provider’s stock. Truist Financial’s target price suggests a potential upside of 27.32% from the stock’s previous close.

Several other research firms also recently commented on IT. Morgan Stanley set a $307.00 price objective on shares of Gartner in a report on Monday. Wells Fargo & Company cut their price objective on shares of Gartner from $345.00 to $225.00 and set an “underweight” rating for the company in a report on Wednesday, August 6th. Barclays cut their price objective on shares of Gartner from $475.00 to $320.00 and set an “overweight” rating for the company in a report on Wednesday, August 6th. The Goldman Sachs Group cut their price objective on shares of Gartner from $535.00 to $457.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Finally, BMO Capital Markets cut their price objective on shares of Gartner from $409.00 to $272.00 and set a “market perform” rating for the company in a report on Wednesday, August 6th. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $351.20.

Gartner Stock Down 0.2%

Gartner stock opened at $235.63 on Thursday. Gartner has a twelve month low of $223.65 and a twelve month high of $584.01. The firm has a 50 day moving average price of $247.30 and a 200-day moving average price of $345.25. The company has a market capitalization of $17.85 billion, a P/E ratio of 14.50 and a beta of 1.20. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61.

Gartner (NYSE:IT) last released its earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share for the quarter, beating analysts’ consensus estimates of $3.38 by $0.15. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the prior year, the firm earned $3.22 EPS. The company’s revenue was up 5.7% compared to the same quarter last year. Gartner has set its FY 2025 guidance at 11.750- EPS. As a group, equities analysts predict that Gartner will post 12.5 EPS for the current year.

Insider Buying and Selling at Gartner

In related news, Director Jose M. Gutierrez acquired 417 shares of the stock in a transaction dated Monday, August 18th. The shares were purchased at an average price of $239.80 per share, for a total transaction of $99,996.60. Following the transaction, the director owned 2,080 shares in the company, valued at $498,784. This represents a 25.08% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP John J. Rinello sold 105 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $249.71, for a total transaction of $26,219.55. Following the sale, the senior vice president owned 3,225 shares in the company, valued at approximately $805,314.75. This trade represents a 3.15% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Gartner

A number of large investors have recently added to or reduced their stakes in IT. Norges Bank purchased a new position in Gartner in the 2nd quarter worth $394,133,000. T. Rowe Price Investment Management Inc. raised its position in Gartner by 692.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,066,732 shares of the information technology services provider’s stock worth $447,751,000 after purchasing an additional 932,077 shares during the period. AQR Capital Management LLC raised its position in Gartner by 304.5% in the 2nd quarter. AQR Capital Management LLC now owns 660,186 shares of the information technology services provider’s stock worth $266,860,000 after purchasing an additional 496,957 shares during the period. Sustainable Growth Advisers LP raised its position in Gartner by 71.7% in the 2nd quarter. Sustainable Growth Advisers LP now owns 1,161,513 shares of the information technology services provider’s stock worth $469,507,000 after purchasing an additional 485,188 shares during the period. Finally, Pacer Advisors Inc. raised its position in Gartner by 150.6% in the 3rd quarter. Pacer Advisors Inc. now owns 712,252 shares of the information technology services provider’s stock worth $187,230,000 after purchasing an additional 428,089 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

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.