Gartner (NYSE:IT) Stock Price Up 5.7% - Here's What Happened

Key Points

• Gartner, Inc. stock rose 5.7% to $253.08 amid a significant drop in average trading volume, with just 171,584 shares traded compared to a typical volume of 949,752 shares.
• Analyst ratings vary widely, with UBS targeting $280 and Goldman Sachs projecting a lower target of $457, while the consensus target price remains at $351.20 with a majority rating of "Hold."
• Gartner reported $3.53 earnings per share for the last quarter, surpassing estimates, but revenue fell short of expectations at $1.66 billion, reflecting a 5.7% year-over-year growth.

Gartner, Inc. (NYSE:IT - Get Free Report) rose 5.7% on Tuesday . The stock traded as high as $253.05 and last traded at $253.08. Approximately 171,584 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 949,752 shares. The stock had previously closed at $239.48.

Wall Street Analysts Forecast Growth

IT has been the topic of several research reports. UBS Group raised their target price on Gartner from $270.00 to $280.00 and gave the company a "neutral" rating in a research report on Monday, October 6th. The Goldman Sachs Group decreased their target price on Gartner from $535.00 to $457.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Truist Financial initiated coverage on Gartner in a research report on Thursday, October 16th. They issued a "buy" rating and a $300.00 target price on the stock. Royal Bank Of Canada initiated coverage on Gartner in a research report on Tuesday, September 9th. They issued a "sector perform" rating and a $263.00 target price on the stock. Finally, Wells Fargo & Company decreased 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. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Gartner presently has an average rating of "Hold" and a consensus target price of $351.20.

Gartner Price Performance

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 stock has a 50 day moving average price of $247.58 and a two-hundred day moving average price of $343.28. The firm has a market capitalization of $19.47 billion, a price-to-earnings ratio of 15.88 and a beta of 1.20.

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

Insiders Place Their Bets

In other news, SVP John J. Rinello sold 105 shares of Gartner stock in a transaction on 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 of the company's stock, 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 can be accessed through this hyperlink. Also, Director Jose M. Gutierrez acquired 417 shares of the company's stock in a transaction dated Monday, August 18th. The stock was purchased at an average cost of $239.80 per share, with a total value of $99,996.60. Following the completion of the purchase, 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 position. The disclosure for this purchase can be found here. Insiders own 2.30% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of IT. Norges Bank acquired a new position in Gartner during the 2nd quarter worth $394,133,000. T. Rowe Price Investment Management Inc. grew its stake in Gartner by 692.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,066,732 shares of the information technology services provider's stock worth $447,751,000 after purchasing an additional 932,077 shares in the last quarter. AQR Capital Management LLC grew its stake in Gartner by 304.5% during the 2nd quarter. AQR Capital Management LLC now owns 660,186 shares of the information technology services provider's stock worth $266,860,000 after purchasing an additional 496,957 shares in the last quarter. Sustainable Growth Advisers LP grew its stake in Gartner by 71.7% during the 2nd quarter. Sustainable Growth Advisers LP now owns 1,161,513 shares of the information technology services provider's stock worth $469,507,000 after purchasing an additional 485,188 shares in the last quarter. Finally, Pacer Advisors Inc. grew its stake in Gartner by 150.6% during the 3rd quarter. Pacer Advisors Inc. now owns 712,252 shares of the information technology services provider's stock worth $187,230,000 after purchasing an additional 428,089 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

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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