Wellington Management Group increased their holdings in Gartner by acquiring 342,228 shares of the information technology services provider’s stock during the most recent quarter. On Thursday, NYSE: IT shares started trading at $310.82 each. Institutional investors and hedge funds own 91.86% of the company’s stock, and the company’s financial ratios include a debt-to-equity ratio, a current ratio, and a quick ratio, all of which come in at 0.77. Gartner’s most recent report showed that they exceeded the consensus estimate of $2.57 provided by analysts, reporting earnings per share for the quarter of $3.70. The company’s net margin was 14.75 percent, and the third quarter of this year saw a revenue increase of 15.2% for the company compared to the same period in the previous year. Gartner’s predicted earnings per share for 2018 is $9.49. The company’s market value is $24.57 billion, and the P/E ratio is 31.11, the P/E/G ratio is 5.10, and the beta value is 1.28.
Gartner, Inc. Receives “Moderate Buy” Rating from Analysts
Ten rating agencies covering Gartner, Inc. (NYSE: IT) have recommended a “moderate-buy” rating on average, according to Bloomberg. The agencies arrived at this recommendation based on the belief that the company will continue to perform well in the future.
Research analysts have assigned eight ratings to the company’s stock, including four “buy” recommendations, four “hold” ratings, and four neutral ratings. Brokerages have set the average one-year price target for the company’s stock at $359.00 per share.
Within the past year, brokerages have produced reports regarding the company. Additionally, Gartner’s Chief Financial Officer, Craig Safian, sold 4,510 shares on March 6, resulting in $1,540,300.30 in total revenue at an average price of $341.53 per share. Safian will now own 64,282 shares of the company, which are worth $21,954,231.46.
The sale was made public through a filing with the SEC, which can be found on its website. Eugene A. Hall, the company’s CEO, sold 16,410 shares of the company’s stock on February 9, resulting in a total value of $5,765,325.30. Hall now has direct ownership of 1,148,281 shares of the company, worth approximately $403,425,563.73.
Over the past three months, company insiders have offloaded 42,683 shares of company stock, receiving a combined total of $14,934,903 in proceeds. 3.70% of the total outstanding shares are owned by company insiders.
Many analysts have shared their findings and perspectives on the company, with an average rating of “Moderate Buy.”
Gartner Receives Multiple Adjusted Ratings and Price Targets After Earnings Report
Several rating agencies have made adjustments to their ratings and price targets for Gartner, Inc. (NYSE: IT) following the company’s most recent earnings report.
Morgan Stanley raised their rating for the company to “equal weight” and increased its price target from $350.00 to $366.00 in a research note published on February 8. Meanwhile, BMO Capital Markets upgraded Gartner’s rating from “market perform” to “sector perform” and raised their price objective from $356.00 to $357.00 in a research report published on February 9.
StockNews.com also changed Gartner’s rating from “hold” to “buy” in a research note published on January 21, recommending investors to buy the company’s stock. In contrast, the initial rating given to Gartner was “hold.”
In December 2021, Barclays increased their price target for Gartner from $330 to $350.00 and gave the company an “equal weight” rating. Wells Fargo & Company rated the company as “overweight” and increased their price objective from $370 to $387 in a research report published on February 8.
Hedge funds have also been active in Gartner’s stock market, with Vanguard Group INC increasing the amount of Gartner stock owned by 1.1% during the first quarter of the fiscal year. Vanguard Group INC now owns 9,198,161 shares of the information technology services provider’s stock, valued at $2,736,085,000.
BlackRock INC increased the percentage of Gartner stock owned by 2.5% during the third quarter, with 6,075,891 shares of the company’s stock now in their possession. The Massachusetts Financial Services Co, MA, also increased their holdings in Gartner by 145.1%, now owning 2,227,844 shares of the company’s stock worth $616,422,000.
During the first quarter, The Wellington Management Group LLP also increased the percentage of its holdings invested in Gartner by 20.3%.
Lastly, Morgan Stanley now has 2,151,011 shares held by the information technology services provider after acquiring an additional 1,571,413 shares during the most recent fiscal quarter, bringing their total number of shares to 2 and the value of their shares to $723,041,000.
Wellington Management Group Increases Shares in Gartner
Wellington Management Group LLP increased their holdings in Gartner, Inc. (NYSE: IT) by acquiring 342,228 shares of the information technology services provider’s stock during the most recent quarter, bringing their total number of shares held to 2,029,738. The current market value of these shares is $603,766,000.
At present, institutional investors and hedge funds own 91.86% of the company’s stock. On Thursday, NYSE: IT shares started trading at $310.82 each.
Gartner’s financial ratios as of now include a debt-to-equity ratio, a current ratio, and a quick ratio, all of which come in at 0.77. The current debt-to-equity ratio is 10.77.
The stock’s simple moving average for the past 50 days is $335.02, while the simple moving average for the past 200 days is $321.95. Over the last year, the lowest price for Gartner’s stock was $221.39, and the highest was $358.25.
Gartner presented their most recent findings in a report published on February 7. In the report, the company reported earnings per share for the quarter of $3.70, which exceeded the consensus estimate of $2.57 provided by analysts. The company’s return on equity was 2,645.96%, and their net margin was 14.75 percent.
Gartner’s revenue for the quarter was $1.51 billion, surpassing the average prediction of $1.45 billion made by the market. In comparison, the company generated earnings of $2.99 per share during the same period the year before. The third quarter of this year saw a revenue increase of 15.2% for the company compared to the same period in the previous year.
Industry professionals predict that Gartner will report earnings of $9.49 per share in 2018. The company’s P/E ratio is 31.11, the P/E/G ratio is 5.10, and the beta value is 1.28. Gartner’s current market value is $24.57 billion.
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