Robert W. Baird Cuts Gartner (NYSE:IT) Price Target to $557.00

Gartner (NYSE:IT) had its price objective decreased by Robert W. Baird from $605.00 to $557.00 in a research report sent to investors on Friday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the information technology services provider’s stock.

IT has been the topic of several other reports. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday, March 5th. Morgan Stanley dropped 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. 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 research report on Friday, January 10th. The Goldman Sachs Group restated a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. Finally, Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $525.00 to $600.00 in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $546.63.

Gartner Price Performance

Gartner stock opened at $430.03 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The stock has a market cap of $33.03 billion, a P/E ratio of 26.83, a PEG ratio of 3.30 and a beta of 1.29. The company has a 50-day moving average price of $502.37 and a 200 day moving average price of $507.99. Gartner has a 12-month low of $409.50 and a 12-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 analysts’ consensus estimates of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter last year, the company posted $3.04 EPS. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. Sell-side analysts anticipate that Gartner will post 12.5 earnings per share for the current year.

Insider Transactions at Gartner

In other news, SVP John J. Rinello sold 90 shares of the company’s stock in a transaction 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 transaction, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This represents a 2.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eileen Serra sold 1,200 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the sale, the director now owns 1,627 shares of the company’s stock, valued at $796,855.79. This trade represents a 42.45 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Gartner

Hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. raised its stake in shares of Gartner by 5.5% during the 3rd quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock worth $1,014,099,000 after buying an additional 103,814 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Gartner by 15.5% during the third quarter. Jennison Associates LLC now owns 105,769 shares of the information technology services provider’s stock valued at $53,599,000 after buying an additional 14,167 shares during the period. Citizens Financial Group Inc. RI boosted its position in Gartner by 20.2% during the third quarter. Citizens Financial Group Inc. RI now owns 947 shares of the information technology services provider’s stock worth $480,000 after acquiring an additional 159 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in Gartner in the 3rd quarter worth approximately $422,000. Finally, Banco Santander S.A. acquired a new position in Gartner in the 3rd quarter valued at $646,000. 91.51% of the stock is owned by hedge funds and other 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.