Gartner (NYSE:IT) Stock Keeps Sector Perform Rating at Royal Bank Of Canada

Key Points

• Royal Bank of Canada reaffirmed Gartner’s “sector perform” rating with a $198 price target, implying roughly 8% downside from the prior close. Analysts overall maintain a “Hold” consensus with an average target of $195.50.
• Gartner shares rose 3.6% to $215.16, while the company’s latest quarterly results exceeded expectations, reporting $4.37 in EPS versus a $3.76 consensus estimate and $1.68 billion in revenue.
• Institutional investors own approximately 91.5% of Gartner’s stock, while insiders sold 6,043 shares worth about $1.17 million during the last quarter.

Gartner (NYSE:IT - Get Free Report)'s stock had its "sector perform" rating reaffirmed by stock analysts at Royal Bank Of Canada in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $198.00 price target on the information technology services provider's stock. Royal Bank Of Canada's target price would suggest a potential downside of 7.98% from the stock's previous close.

Several other brokerages also recently weighed in on IT. BMO Capital Markets boosted their target price on Gartner from $206.00 to $212.00 and gave the stock a "market perform" rating in a research note on Tuesday, October 13th. Wells Fargo & Company boosted their target price on Gartner from $150.00 to $175.00 and gave the stock an "underweight" rating in a research note on Tuesday. Morgan Stanley lifted their price target on Gartner from $177.00 to $182.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 8th. Zacks Research cut Gartner from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 5th. Finally, Truist Financial set a $205.00 price target on Gartner in a research report on Wednesday, August 5th. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $195.50.

Gartner Stock Up 3.6%

IT stock traded up $7.44 on Tuesday, hitting $215.16. 143,416 shares of the company's stock were exchanged, compared to its average volume of 1,451,712. Gartner has a 12-month low of $124.25 and a 12-month high of $261.10. The firm has a 50 day moving average price of $189.01 and a two-hundred day moving average price of $163.81. The company has a debt-to-equity ratio of 46.98, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market cap of $13.59 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 0.77 and a beta of 0.98.

Gartner (NYSE:IT - Get Free Report) last announced its earnings results on Tuesday, August 4th. The information technology services provider reported $4.37 earnings per share for the quarter, topping the consensus estimate of $3.76 by $0.61. Gartner had a return on equity of 525.46% and a net margin of 11.99%. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the business earned $3.53 EPS. The firm's revenue for the quarter was down .6% on a year-over-year basis. Gartner has set its FY 2026 guidance at 14.000- EPS. As a group, equities research analysts expect that Gartner will post 14.39 EPS for the current fiscal year.

Insider Transactions at Gartner

In other Gartner news, EVP Yvonne Genovese sold 1,205 shares of Gartner stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $190.06, for a total transaction of $229,022.30. Following the completion of the sale, the executive vice president owned 6,208 shares of the company's stock, valued at approximately $1,179,892.48. The trade was a 16.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Anne Fuchs sold 860 shares of Gartner stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $184.30, for a total value of $158,498.00. Following the sale, the director directly owned 8,097 shares of the company's stock, valued at approximately $1,492,277.10. This represents a 9.60% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 6,043 shares of company stock worth $1,172,858. 2.60% of the stock is owned by insiders.

Institutional Trading of Gartner

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Abel Hall LLC acquired a new stake in Gartner during the 3rd quarter worth about $205,000. Kaufman Rossin Wealth LLC acquired a new stake in Gartner during the 3rd quarter worth about $212,000. IFP Advisors Inc lifted its holdings in shares of Gartner by 39.8% in the 3rd quarter. IFP Advisors Inc now owns 2,987 shares of the information technology services provider's stock valued at $557,000 after buying an additional 851 shares during the period. Robertson Stephens Wealth Management LLC lifted its holdings in shares of Gartner by 1.7% in the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 3,061 shares of the information technology services provider's stock valued at $571,000 after buying an additional 52 shares during the period. Finally, V Square Quantitative Management LLC lifted its holdings in shares of Gartner by 8.6% in the 3rd quarter. V Square Quantitative Management LLC now owns 2,116 shares of the information technology services provider's stock valued at $395,000 after buying an additional 167 shares during the period. Institutional investors and hedge funds own 91.51% of the company's stock.

Gartner Company Profile

Gartner, Inc is a global research and advisory company that provides information, analysis and guidance to business leaders, technology professionals and public-sector organizations. Its work focuses on helping clients evaluate technology markets, develop business strategies, manage risk and make decisions about digital transformation and other organizational priorities.

The company delivers its services through research and advisory programs, consulting engagements, executive guidance and conferences.