Gartner (NYSE:IT) Sets New 1-Year Low on Analyst Downgrade

Gartner, Inc. (NYSE:IT) shares hit a new 52-week low on Friday after Robert W. Baird lowered their price target on the stock from $605.00 to $557.00. Robert W. Baird currently has an outperform rating on the stock. Gartner traded as low as $409.50 and last traded at $416.01, with a volume of 186143 shares changing hands. The stock had previously closed at $418.77.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley decreased their price objective 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 restated a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, March 5th. Wells Fargo & Company reduced their price target on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a report on Friday, January 10th. Finally, Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $525.00 to $600.00 in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $546.63.

Insider Transactions at Gartner

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

Several large investors have recently bought and sold shares of the stock. 111 Capital purchased a new stake in Gartner during the 4th quarter worth approximately $782,000. Siemens Fonds Invest GmbH boosted its holdings in Gartner by 4.0% in the fourth quarter. Siemens Fonds Invest GmbH now owns 854 shares of the information technology services provider’s stock valued at $415,000 after purchasing an additional 33 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Gartner in the fourth quarter valued at $30,425,000. Jefferies Financial Group Inc. boosted its holdings in Gartner by 982.9% in the fourth quarter. Jefferies Financial Group Inc. now owns 10,851 shares of the information technology services provider’s stock valued at $5,257,000 after purchasing an additional 9,849 shares during the last quarter. Finally, Ascent Group LLC lifted its holdings in shares of Gartner by 4.7% in the 4th quarter. Ascent Group LLC now owns 929 shares of the information technology services provider’s stock valued at $450,000 after buying an additional 42 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Stock Down 0.5 %

The stock has a market cap of $32.01 billion, a PE ratio of 25.98, a P/E/G ratio of 3.30 and a beta of 1.29. The business has a 50 day moving average price of $503.55 and a 200 day moving average price of $508.09. 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 quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, topping the consensus estimate of $3.22 by $2.23. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.04 EPS. Equities research analysts expect that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

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.