StockNews.com Downgrades Gartner (NYSE:IT) to Hold

StockNews.com downgraded shares of Gartner (NYSE:IT) from a buy rating to a hold rating in a report issued on Tuesday.

A number of other brokerages have also issued reports on IT. Robert W. Baird boosted their price target on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. Wells Fargo & Company reduced their price objective on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley reduced their price target on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. One 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $552.63.

Gartner Stock Down 1.3 %

Shares of NYSE:IT opened at $534.12 on Tuesday. Gartner has a 1 year low of $411.15 and a 1 year high of $584.01. The business has a 50 day simple moving average of $509.71 and a two-hundred day simple moving average of $506.06. The firm has a market capitalization of $41.20 billion, a PE ratio of 39.39, a price-to-earnings-growth ratio of 3.37 and a beta of 1.34. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $2.23. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.69 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.04 earnings per share. On average, equities analysts predict that Gartner will post 11.87 EPS for the current year.

Insider Buying and Selling at Gartner

In other news, EVP William James Wartinbee III sold 189 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $523.54, for a total transaction of $98,949.06. Following the sale, the executive vice president now directly owns 7,311 shares in the company, valued at $3,827,600.94. This trade represents a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Claire Herkes sold 411 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total value of $214,229.64. Following the sale, the executive vice president now owns 1,494 shares in the company, valued at $778,732.56. This trade represents a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,050 shares of company stock valued at $4,292,245. 3.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Gartner

Institutional investors have recently bought and sold shares of the company. Eastern Bank purchased a new position in Gartner in the 3rd quarter worth approximately $26,000. Kestra Investment Management LLC purchased a new stake in shares of Gartner during the 4th quarter valued at approximately $29,000. Ashton Thomas Securities LLC purchased a new stake in shares of Gartner during the 3rd quarter valued at approximately $44,000. True Wealth Design LLC raised its position in shares of Gartner by 2,350.0% during the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock valued at $50,000 after buying an additional 94 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Gartner during the 4th quarter valued at approximately $49,000. 91.51% of the stock is currently 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.