Gartner (NYSE:IT) Price Target Cut to $401.00 by Analysts at Wells Fargo & Company

Gartner (NYSE:IT) had its price target decreased by equities researchers at Wells Fargo & Company from $488.00 to $401.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the information technology services provider’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 2.20% from the company’s previous close.

A number of other analysts have also recently weighed in on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a research note 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. Morgan Stanley decreased their price target 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. Barclays reduced their price objective on Gartner from $600.00 to $510.00 and set an “overweight” rating on the stock in a research note on Friday, April 4th. Finally, Robert W. Baird lowered their target price on Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. 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. According to MarketBeat, Gartner presently has an average rating of “Hold” and an average target price of $518.00.

Gartner Trading Down 3.4 %

NYSE IT opened at $392.37 on Wednesday. The company has a market capitalization of $30.14 billion, a PE ratio of 24.48, a price-to-earnings-growth ratio of 3.30 and a beta of 1.26. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. Gartner has a 1-year low of $366.05 and a 1-year high of $584.01. The firm’s fifty day simple moving average is $464.31 and its 200-day simple moving average is $497.11.

Gartner (NYSE:IT) last released its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, beating 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 business 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 earned $3.04 earnings per share. The firm’s revenue was up 8.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Gartner will post 12.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Gartner

In other Gartner news, Director Eileen Serra sold 1,200 shares of the stock in a transaction on Monday, February 24th. The shares were 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 owns 1,627 shares in the company, valued at $796,855.79. This trade represents a 42.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP John J. Rinello sold 90 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now directly owns 3,259 shares in the company, valued at approximately $1,728,932.09. The trade was a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.

Institutional Trading of Gartner

Hedge funds have recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. grew its stake in Gartner by 3.7% during the first quarter. Contravisory Investment Management Inc. now owns 2,028 shares of the information technology services provider’s stock worth $851,000 after buying an additional 73 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc lifted its stake in Gartner by 51.2% during the first quarter. AEGON ASSET MANAGEMENT UK Plc now owns 33,424 shares of the information technology services provider’s stock worth $14,014,000 after purchasing an additional 11,317 shares during the last quarter. Merit Financial Group LLC boosted its holdings in shares of Gartner by 15.6% in the 1st quarter. Merit Financial Group LLC now owns 1,842 shares of the information technology services provider’s stock valued at $773,000 after purchasing an additional 249 shares in the last quarter. Arlington Financial Advisors LLC raised its holdings in shares of Gartner by 7.4% during the 1st quarter. Arlington Financial Advisors LLC now owns 837 shares of the information technology services provider’s stock worth $351,000 after buying an additional 58 shares in the last quarter. Finally, NBC Securities Inc. raised its stake in Gartner by 111,366.7% during the first quarter. NBC Securities Inc. now owns 3,344 shares of the information technology services provider’s stock worth $1,403,000 after acquiring an additional 3,341 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

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.