Gartner (NYSE:IT) Earns Buy Rating from Analysts at Truist Financial

Key Points

• Truist Financial has initiated coverage on Gartner with a "buy" rating and a price target of $300.00, indicating a potential upside of 26.72% from its previous close.
• Other analysts have differing views; Wells Fargo set a price target of $225.00 with an "underweight" rating, while UBS raised their price target to $280.00 with a "neutral" rating.
• Gartner reported earnings of $3.53 per share in its last quarterly results, exceeding expectations, with revenues of $1.66 billion, highlighting a year-over-year revenue increase of 5.7%.

Stock analysts at Truist Financial initiated coverage on shares of Gartner (NYSE:IT - Get Free Report) in a report issued on Thursday, MarketBeat Ratings 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 26.72% from the company's previous close.

Several other research analysts have also recently weighed in on IT. Wells Fargo & Company lowered their price target on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a report on Wednesday, August 6th. UBS Group raised their target price on shares of Gartner from $270.00 to $280.00 and gave the stock a "neutral" rating in a report on Monday, October 6th. BMO Capital Markets lowered their target price on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating on the stock in a report on Wednesday, August 6th. Morgan Stanley set a $307.00 price target on shares of Gartner in a research report on Monday. Finally, Barclays reduced their price target on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 6th. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Gartner presently has an average rating of "Hold" and an average price target of $351.20.

Gartner Stock Down 4.0%

Gartner stock opened at $236.75 on Thursday. The stock has a market cap of $17.93 billion, a P/E ratio of 14.57 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 has a twelve month low of $223.65 and a twelve month high of $584.01. The company's 50-day moving average price is $247.04 and its two-hundred day moving average price is $347.74.

Gartner (NYSE:IT - Get Free Report) last released its quarterly 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 analysts' expectations of $1.68 billion. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The business's revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.22 EPS. Gartner has set its FY 2025 guidance at 11.750- EPS. As a group, analysts expect that Gartner will post 12.5 EPS for the current year.

Insider Buying and Selling

In other Gartner news, SVP John J. Rinello sold 105 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $249.71, for a total value of $26,219.55. Following the sale, the senior vice president owned 3,225 shares in the company, valued at $805,314.75. This trade represents a 3.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jose M. Gutierrez bought 417 shares of the business's stock in a transaction on Monday, August 18th. The stock was bought at an average price of $239.80 per share, for a total transaction of $99,996.60. Following the transaction, the director directly owned 2,080 shares of the company's stock, valued at approximately $498,784. This represents a 25.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.30% of the company's stock.

Hedge Funds Weigh In On Gartner

Hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Gartner by 22.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 34,964 shares of the information technology services provider's stock worth $13,995,000 after purchasing an additional 6,352 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Gartner by 10.2% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,433 shares of the information technology services provider's stock valued at $5,026,000 after buying an additional 1,150 shares during the period. Pallas Capital Advisors LLC boosted its position in Gartner by 154.4% during the second quarter. Pallas Capital Advisors LLC now owns 3,445 shares of the information technology services provider's stock valued at $1,393,000 after acquiring an additional 2,091 shares during the last quarter. Bright Rock Capital Management LLC bought a new stake in Gartner during the second quarter valued at $1,859,000. Finally, Abacus FCF Advisors LLC boosted its position in Gartner by 534.6% during the second quarter. Abacus FCF Advisors LLC now owns 36,889 shares of the information technology services provider's stock valued at $14,911,000 after acquiring an additional 31,076 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Gartner Company Profile

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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