Gartner (NYSE:IT) Given New $500.00 Price Target at UBS Group

Gartner (NYSE:IT) had its price target decreased by equities research analysts at UBS Group from $565.00 to $500.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the information technology services provider’s stock. UBS Group’s target price would indicate a potential upside of 16.36% from the company’s previous close.

IT has been the subject of a number of other research reports. Morgan Stanley lowered their target price on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. Wells Fargo & Company lowered their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. Robert W. Baird lowered their price target on Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a report on Friday. Finally, Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $525.00 to $600.00 in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $536.63.

Gartner Trading Down 0.2 %

Shares of IT opened at $429.69 on Tuesday. The stock’s fifty day simple moving average is $501.11 and its 200-day simple moving average is $507.61. The firm has a market capitalization of $33.01 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29. Gartner has a 12-month low of $409.50 and a 12-month high of $584.01. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81.

Gartner (NYSE:IT) last released its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the prior year, the company posted $3.04 EPS. The company’s revenue was up 8.1% compared to the same quarter last year. As a group, research analysts predict that Gartner will post 12.5 earnings per share for the current year.

Insider Activity

In other Gartner news, SVP John J. Rinello sold 90 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the transaction, the senior vice president now owns 3,259 shares in the company, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eileen Serra sold 1,200 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the sale, the director now directly owns 1,627 shares of the company’s stock, valued at approximately $796,855.79. The trade was a 42.45 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of IT. Czech National Bank lifted its holdings in shares of Gartner by 6.5% during the 4th quarter. Czech National Bank now owns 16,725 shares of the information technology services provider’s stock worth $8,103,000 after acquiring an additional 1,028 shares during the period. Entropy Technologies LP acquired a new stake in shares of Gartner in the 4th quarter valued at $366,000. D.A. Davidson & CO. increased its stake in shares of Gartner by 2.6% in the 4th quarter. D.A. Davidson & CO. now owns 1,137 shares of the information technology services provider’s stock valued at $551,000 after purchasing an additional 29 shares during the last quarter. Conestoga Capital Advisors LLC raised its holdings in shares of Gartner by 1.5% during the 4th quarter. Conestoga Capital Advisors LLC now owns 31,626 shares of the information technology services provider’s stock worth $15,322,000 after buying an additional 480 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Gartner by 8.6% during the 3rd quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock worth $84,520,000 after buying an additional 13,205 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.