Gartner (NYSE:IT) Receives Outperform Rating from William Blair

Key Points

• Gartner's stock received an "outperform" rating from William Blair, while other analysts offered mixed reviews, resulting in a consensus "hold" rating.
• Gartner reported a quarterly earnings per share (EPS) of $3.53, exceeding the consensus estimate, with a 5.7% year-over-year revenue increase to $1.66 billion.
• Gartner's stock rose 7.6%, reaching $257.57, while analysts adjusted price targets significantly, with ranges varying from $225 to $535.

Gartner (NYSE:IT - Get Free Report)'s stock had its "outperform" rating reiterated by investment analysts at William Blair in a report issued on Tuesday,RTT News reports.

Several other research analysts have also weighed in on IT. Wolfe Research began coverage on shares of Gartner in a report on Wednesday, September 3rd. They set a "peer perform" rating for the company. Barclays decreased their price objective 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. The Goldman Sachs Group decreased their price objective on shares of Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. UBS Group raised their price objective on shares of Gartner from $270.00 to $280.00 and gave the stock a "neutral" rating in a report on Monday, October 6th. Finally, Wells Fargo & Company decreased their price objective on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a report on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $351.20.

Gartner Stock Up 7.6%

Gartner stock traded up $18.09 during midday trading on Tuesday, hitting $257.57. 689,742 shares of the stock were exchanged, compared to its average volume of 952,624. Gartner has a 1 year low of $223.65 and a 1 year high of $584.01. The firm has a market cap of $19.51 billion, a P/E ratio of 15.86 and a beta of 1.20. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.11 and a quick ratio of 1.11. The company has a 50 day moving average price of $247.58 and a two-hundred day moving average price of $343.28.

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 (EPS) for the quarter, topping the consensus estimate of $3.38 by $0.15. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the firm posted $3.22 EPS. The firm's quarterly revenue was up 5.7% on a year-over-year basis. Gartner has set its FY 2025 guidance at 11.750- EPS. On average, sell-side analysts predict that Gartner will post 12.5 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Gartner

Several institutional investors and hedge funds have recently modified their holdings of IT. Addison Advisors LLC bought a new stake in shares of Gartner during the 2nd quarter worth $27,000. Ransom Advisory Ltd bought a new stake in shares of Gartner during the 1st quarter worth $29,000. Olde Wealth Management LLC bought a new stake in shares of Gartner during the 1st quarter worth $42,000. True Wealth Design LLC boosted its holdings in shares of Gartner by 1,130.8% during the 3rd quarter. True Wealth Design LLC now owns 160 shares of the information technology services provider's stock worth $42,000 after buying an additional 147 shares during the period. Finally, Chilton Capital Management LLC bought a new stake in shares of Gartner during the 2nd quarter worth $47,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.