Gartner (NYSE:IT) Price Target Lowered to $500.00 at UBS Group

Gartner (NYSE:IT) had its price target lowered by equities research analysts at UBS Group from $565.00 to $500.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the information technology services provider’s stock. UBS Group’s target price indicates a potential upside of 17.25% from the stock’s previous close.

Several other research analysts have also issued reports on IT. Wells Fargo & Company cut their target price 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. Morgan Stanley reduced their price objective 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. The Goldman Sachs Group restated a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Finally, Barclays upgraded 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 report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $536.63.

Gartner Price Performance

Shares of NYSE IT opened at $426.43 on Tuesday. The firm has a market capitalization of $32.76 billion, a P/E ratio of 26.60, a P/E/G ratio of 3.30 and a beta of 1.29. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The stock’s 50-day simple moving average is $497.88 and its two-hundred day simple moving average is $506.61. Gartner has a twelve month low of $409.50 and a twelve month high of $584.01.

Gartner (NYSE:IT) last posted its quarterly earnings data 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 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 analysts’ expectations of $1.69 billion. During the same period in the prior year, the business earned $3.04 earnings per share. Gartner’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, equities analysts anticipate that Gartner will post 12.5 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP John J. Rinello sold 90 shares of the business’s stock in a transaction that occurred 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 directly owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. The trade was a 2.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eileen Serra sold 1,200 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $489.77, for a total value 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 $796,855.79. The trade was a 42.45 % decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Gartner during the fourth quarter valued at about $460,541,000. Madison Investment Advisors LLC purchased a new position in shares of Gartner during the 4th quarter worth approximately $244,799,000. Raymond James Financial Inc. bought a new position in shares of Gartner in the 4th quarter worth approximately $165,476,000. BNP Paribas Financial Markets lifted its stake in shares of Gartner by 184.6% in the 4th quarter. BNP Paribas Financial Markets now owns 390,472 shares of the information technology services provider’s stock valued at $189,172,000 after purchasing an additional 253,288 shares during the period. Finally, FMR LLC boosted its position in shares of Gartner by 8.6% during the fourth quarter. FMR LLC now owns 2,822,122 shares of the information technology services provider’s stock valued at $1,367,233,000 after purchasing an additional 223,087 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

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.