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

Gartner (NYSE:IT) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Several other research firms have also weighed in on IT. Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. Robert W. Baird increased their price target on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Morgan Stanley lifted their price target on Gartner from $560.00 to $564.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. 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. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, Gartner has an average rating of “Hold” and a consensus price target of $551.88.

Gartner Price Performance

Shares of NYSE IT opened at $509.57 on Tuesday. Gartner has a twelve month low of $411.15 and a twelve month high of $559.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. The firm has a 50-day moving average of $508.69 and a two-hundred day moving average of $497.40. The company has a market capitalization of $39.31 billion, a price-to-earnings ratio of 37.58, a PEG ratio of 3.18 and a beta of 1.33.

Gartner (NYSE:IT) last released its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.45 by $0.05. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.56 earnings per share. As a group, analysts expect that Gartner will post 11.87 earnings per share for the current fiscal year.

Insider Transactions at Gartner

In related news, EVP William James Wartinbee III sold 189 shares of Gartner 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 of the company’s stock, valued at $3,827,600.94. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Claire Herkes sold 411 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total value of $214,229.64. Following the completion of the transaction, the executive vice president now directly owns 1,494 shares of the company’s stock, valued at approximately $778,732.56. This trade represents a 21.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,583 shares of company stock worth $19,241,974. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Gartner

A number of institutional investors have recently bought and sold shares of IT. Acadian Asset Management LLC bought a new position in shares of Gartner during the 2nd quarter worth about $650,000. Thoroughbred Financial Services LLC bought a new position in Gartner during the second quarter worth about $519,000. Wealthspire Advisors LLC boosted its holdings in Gartner by 32.5% during the second quarter. Wealthspire Advisors LLC now owns 640 shares of the information technology services provider’s stock valued at $287,000 after purchasing an additional 157 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Gartner by 10.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 585,026 shares of the information technology services provider’s stock valued at $262,706,000 after purchasing an additional 56,908 shares during the period. Finally, Citizens Financial Group Inc. RI acquired a new position in shares of Gartner in the 2nd quarter worth approximately $354,000. Institutional investors and hedge funds 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.