Gartner (NYSE:IT) Coverage Initiated by Analysts at Wolfe Research

Key Points

• Wolfe Research has initiated coverage on Gartner, establishing a "peer perform" rating for the information technology services provider, while several other analysts have decreased their target prices significantly.
• Gartner reported earnings of $3.53 per share for the last quarter, surpassing expectations, although its revenue slightly missed projections at $1.66 billion.
• Insider transactions revealed a sale by the SVP and a purchase by a director, indicating mixed sentiment among company leaders regarding their own stock holdings.

Stock analysts at Wolfe Research assumed coverage on shares of Gartner (NYSE:IT - Get Free Report) in a report issued on Wednesday,Briefing.com Automated Import reports. The brokerage set a "peer perform" rating on the information technology services provider's stock.

Several other equities analysts also recently weighed in on IT. Wells Fargo & Company cut their target price on Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a research report on Wednesday, August 6th. The Goldman Sachs Group cut their price objective on Gartner from $535.00 to $457.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Morgan Stanley cut their price objective on Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 6th. UBS Group reaffirmed a "neutral" rating and issued a $270.00 price objective (down previously from $480.00) on shares of Gartner in a research report on Wednesday, August 6th. Finally, BMO Capital Markets cut their price objective on Gartner from $409.00 to $272.00 and set a "market perform" rating on the stock in a research report on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $369.25.

Gartner Stock Performance

NYSE IT opened at $250.00 on Wednesday. The company has a market cap of $18.93 billion, a P/E ratio of 15.39 and a beta of 1.20. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.11 and a current ratio of 1.11. The business's 50 day moving average price is $317.80 and its 200-day moving average price is $394.06. Gartner has a fifty-two week low of $223.65 and a fifty-two week high of $584.01.

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

Insider Transactions at Gartner

In other Gartner news, SVP John J. Rinello sold 105 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $249.71, for a total value of $26,219.55. Following the completion of the sale, the senior vice president directly owned 3,225 shares in the company, valued at approximately $805,314.75. This trade represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jose M. Gutierrez purchased 417 shares of the firm's stock in a transaction on Monday, August 18th. The stock was acquired at an average price of $239.80 per share, with a total value of $99,996.60. Following the completion of the purchase, the director owned 2,080 shares of the company's stock, valued at $498,784. The trade was a 25.08% increase in their position. The disclosure for this purchase can be found here. Company insiders own 3.60% of the company's stock.

Institutional Investors Weigh In On Gartner

A number of large investors have recently bought and sold shares of the company. Orion Porfolio Solutions LLC grew its holdings in Gartner by 1.8% during the second quarter. Orion Porfolio Solutions LLC now owns 24,357 shares of the information technology services provider's stock worth $9,846,000 after acquiring an additional 433 shares during the period. State of Wyoming acquired a new stake in Gartner during the second quarter worth about $231,000. Caxton Associates LLP grew its holdings in Gartner by 171.3% during the second quarter. Caxton Associates LLP now owns 16,402 shares of the information technology services provider's stock worth $6,630,000 after acquiring an additional 10,356 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in Gartner during the second quarter worth about $83,000. Finally, FORA Capital LLC acquired a new stake in Gartner during the second quarter worth about $969,000. 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.

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