Gartner (NYSE:IT) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Gartner (NYSE:IT) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

A number of other analysts also recently issued reports on IT. Deutsche Bank Aktiengesellschaft increased their target price on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $525.00 to $600.00 in a research report on Friday, January 10th. Wells Fargo & Company decreased their price target on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research report on Friday, January 10th. Robert W. Baird raised their price objective on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley decreased their target price on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Gartner presently has a consensus rating of “Hold” and a consensus target price of $550.75.

Gartner Stock Performance

NYSE:IT opened at $546.38 on Tuesday. The company has a market cap of $42.14 billion, a P/E ratio of 40.29, a P/E/G ratio of 3.37 and a beta of 1.34. The firm’s 50 day moving average is $508.97 and its two-hundred day moving average is $505.61. Gartner has a fifty-two week low of $411.15 and a fifty-two week high of $584.01. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, topping the consensus estimate of $3.22 by $2.23. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period last year, the company posted $3.04 EPS. The business’s quarterly revenue was up 8.1% on a year-over-year basis. Analysts expect that Gartner will post 11.87 EPS for the current year.

Insider Activity

In other news, EVP Claire Herkes sold 411 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $521.24, for a total value of $214,229.64. Following the completion of the sale, the executive vice president now directly owns 1,494 shares in the company, valued at approximately $778,732.56. The trade was a 21.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James C. Smith sold 2,450 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $554.68, for a total value of $1,358,966.00. Following the sale, the director now directly owns 529,844 shares in the company, valued at approximately $293,893,869.92. This represents a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 25,583 shares of company stock worth $13,884,374. 3.60% of the stock is currently owned by insiders.

Institutional Trading of Gartner

Several institutional investors have recently added to or reduced their stakes in IT. JFG Wealth Management LLC bought a new position in shares of Gartner during the fourth quarter valued at approximately $322,000. MorganRosel Wealth Management LLC grew its stake in Gartner by 18.7% during the 4th quarter. MorganRosel Wealth Management LLC now owns 2,056 shares of the information technology services provider’s stock worth $996,000 after buying an additional 324 shares during the last quarter. Illinois Municipal Retirement Fund grew its stake in Gartner by 2.5% during the 4th quarter. Illinois Municipal Retirement Fund now owns 47,863 shares of the information technology services provider’s stock worth $23,188,000 after buying an additional 1,162 shares during the last quarter. Fairhaven Wealth Management LLC increased its position in Gartner by 2.7% in the fourth quarter. Fairhaven Wealth Management LLC now owns 2,056 shares of the information technology services provider’s stock worth $996,000 after buying an additional 55 shares during the period. Finally, Quartz Partners LLC lifted its stake in Gartner by 8.2% in the fourth quarter. Quartz Partners LLC now owns 4,629 shares of the information technology services provider’s stock valued at $2,243,000 after buying an additional 350 shares during the last quarter. 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.