Royal Bank Of Canada Initiates Coverage on Gartner (NYSE:IT)

Key Points

• Royal Bank Of Canada has initiated coverage on Gartner (NYSE:IT) with a "sector perform" rating and a price target of $263.00, indicating a potential upside of 6.97% from the stock's previous close.
• Multiple other firms have recently lowered their price targets for Gartner, with BMO Capital Markets decreasing it from $409.00 to $272.00 and Morgan Stanley from $455.00 to $322.00.
• In the latest quarterly earnings report, Gartner reported $3.53 EPS, exceeding estimates, while revenue increased by 5.7% year-over-year, totaling $1.66 billion.

Royal Bank Of Canada started coverage on shares of Gartner (NYSE:IT - Free Report) in a research note published on Tuesday, MarketBeat Ratings reports. The firm issued a sector perform rating and a $263.00 price objective on the information technology services provider's stock.

A number of other research analysts also recently commented on the stock. The Goldman Sachs Group cut their target price on shares of Gartner from $535.00 to $457.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Barclays cut their target price 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. Morgan Stanley decreased their price target on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 6th. Wells Fargo & Company cut their target price on Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a research note on Wednesday, August 6th. Finally, Wolfe Research began coverage on Gartner in a research report on Wednesday, September 3rd. They set a "peer perform" rating for the company. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $357.44.

Gartner Stock Up 2.6%

Gartner stock traded up $6.28 during mid-day trading on Tuesday, reaching $247.40. The stock had a trading volume of 2,214,210 shares, compared to its average volume of 863,836. The company has a 50-day moving average price of $292.34 and a two-hundred day moving average price of $380.36. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.11 and a quick ratio of 1.11. Gartner has a one year low of $223.65 and a one year high of $584.01. The company has a market capitalization of $18.74 billion, a price-to-earnings ratio of 15.22 and a beta of 1.20.

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. Gartner had a return on equity of 82.63% and a net margin of 19.71%.The firm had revenue of $1.66 billion for the quarter, compared to analysts' expectations 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. On average, analysts expect that Gartner will post 12.5 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. DAVENPORT & Co LLC boosted its stake in Gartner by 11.5% in the 1st quarter. DAVENPORT & Co LLC now owns 921 shares of the information technology services provider's stock worth $387,000 after purchasing an additional 95 shares during the period. HighPoint Advisor Group LLC raised its position in shares of Gartner by 3.6% in the 1st quarter. HighPoint Advisor Group LLC now owns 1,145 shares of the information technology services provider's stock valued at $482,000 after buying an additional 40 shares in the last quarter. SG Americas Securities LLC lifted its stake in Gartner by 3.6% in the 1st quarter. SG Americas Securities LLC now owns 42,389 shares of the information technology services provider's stock valued at $17,792,000 after purchasing an additional 1,484 shares during the last quarter. Brighton Jones LLC acquired a new position in shares of Gartner during the fourth quarter worth $309,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Gartner by 1.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,612 shares of the information technology services provider's stock valued at $12,009,000 after buying an additional 352 shares during the period. 91.51% of the stock is currently owned by institutional investors.

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.