Gartner (NYSE:IT) Hits New 12-Month Low Following Analyst Downgrade

Gartner, Inc. (NYSE:IT) shares reached a new 52-week low during mid-day trading on Monday after Barclays lowered their price target on the stock from $600.00 to $510.00. Barclays currently has an overweight rating on the stock. Gartner traded as low as $366.05 and last traded at $377.84, with a volume of 229952 shares changing hands. The stock had previously closed at $383.24.

Other equities analysts also recently issued reports about the stock. UBS Group decreased their price target on shares of Gartner from $565.00 to $500.00 and set a “buy” rating on the stock in a research note on Tuesday, March 25th. Morgan Stanley decreased their target price on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Robert W. Baird cut their target price on Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $525.38.

Insider Buying and Selling at Gartner

In other Gartner news, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the transaction, the senior vice president now owns 3,259 shares in the company, valued at approximately $1,728,932.09. This trade represents a 2.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eileen Serra sold 1,200 shares of the stock in a transaction 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 owns 1,627 shares of the company’s stock, valued at approximately $796,855.79. This trade represents a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Gartner

A number of hedge funds have recently added to or reduced their stakes in IT. Rhumbline Advisers grew its position in shares of Gartner by 6.9% during the 1st quarter. Rhumbline Advisers now owns 161,754 shares of the information technology services provider’s stock worth $67,895,000 after buying an additional 10,389 shares during the period. Fifth Third Wealth Advisors LLC lifted its position in shares of Gartner by 7.4% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 655 shares of the information technology services provider’s stock valued at $275,000 after acquiring an additional 45 shares during the period. Parallel Advisors LLC boosted its stake in Gartner by 6.1% during the first quarter. Parallel Advisors LLC now owns 782 shares of the information technology services provider’s stock worth $328,000 after acquiring an additional 45 shares in the last quarter. Summit Global Investments acquired a new stake in Gartner in the first quarter worth $1,495,000. Finally, GAMMA Investing LLC increased its stake in Gartner by 40,841.0% in the first quarter. GAMMA Investing LLC now owns 499,071 shares of the information technology services provider’s stock valued at $209,480,000 after purchasing an additional 497,852 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Gartner Stock Down 1.9 %

The stock has a market cap of $28.82 billion, a price-to-earnings ratio of 23.40, a price-to-earnings-growth ratio of 3.30 and a beta of 1.26. The firm’s fifty day moving average price is $473.02 and its two-hundred day moving average price is $499.35. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (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 company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.04 earnings per share. Sell-side analysts forecast that Gartner, Inc. will post 12.5 earnings per share 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.