Gartner (NYSE:IT) Downgraded to Hold at StockNews.com

Gartner (NYSE:IT – Get Rating) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

A number of other research firms have also recently commented on IT. Morgan Stanley lifted their price target on Gartner from $358.00 to $366.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 8th. BMO Capital Markets reduced their price objective on Gartner from $357.00 to $337.00 and set a “market perform” rating for the company in a report on Friday, April 21st. Finally, Wells Fargo & Company reduced their price objective on Gartner from $387.00 to $380.00 and set an “overweight” rating for the company in a report on Wednesday, April 19th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $357.86.

Gartner Trading Up 2.6 %

Gartner stock opened at $338.24 on Friday. Gartner has a 52 week low of $221.39 and a 52 week high of $358.25. The company has a debt-to-equity ratio of 5.19, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $26.73 billion, a P/E ratio of 29.18, a PEG ratio of 4.30 and a beta of 1.28. The stock has a 50-day simple moving average of $313.17 and a 200 day simple moving average of $328.67.

Gartner (NYSE:IT – Get Rating) last posted its quarterly earnings results on Tuesday, May 2nd. The information technology services provider reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.84. Gartner had a return on equity of 772.55% and a net margin of 16.56%. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter last year, the company posted $2.33 earnings per share. Gartner’s quarterly revenue was up 11.6% on a year-over-year basis. Analysts expect that Gartner will post 10.05 earnings per share for the current year.

Insider Activity

In other news, EVP Yvonne Genovese sold 874 shares of Gartner stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $334.18, for a total value of $292,073.32. Following the completion of the sale, the executive vice president now directly owns 2,568 shares in the company, valued at $858,174.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Gartner news, EVP Yvonne Genovese sold 874 shares of the business’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $334.18, for a total transaction of $292,073.32. Following the completion of the transaction, the executive vice president now directly owns 2,568 shares in the company, valued at $858,174.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Craig Safian sold 4,510 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $341.53, for a total transaction of $1,540,300.30. Following the transaction, the chief financial officer now owns 64,282 shares of the company’s stock, valued at $21,954,231.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,893 shares of company stock worth $3,891,448. Corporate insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Morgan Stanley grew its stake in shares of Gartner by 271.1% in the fourth quarter. Morgan Stanley now owns 2,151,011 shares of the information technology services provider’s stock worth $723,041,000 after purchasing an additional 1,571,413 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Gartner by 926.7% in the first quarter. Envestnet Asset Management Inc. now owns 1,726,215 shares of the information technology services provider’s stock worth $64,835,000 after purchasing an additional 1,558,080 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Gartner by 145.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,227,844 shares of the information technology services provider’s stock worth $616,422,000 after purchasing an additional 1,318,892 shares during the last quarter. Norges Bank bought a new stake in shares of Gartner in the fourth quarter worth $263,599,000. Finally, Brown Advisory Inc. grew its stake in shares of Gartner by 2,360.5% in the first quarter. Brown Advisory Inc. now owns 779,471 shares of the information technology services provider’s stock worth $253,928,000 after purchasing an additional 747,791 shares during the last quarter. 91.86% of the stock is currently owned by institutional investors and hedge funds.

Gartner Company Profile

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Gartner, Inc is a research and advisory company, which equips business leaders with insights, advice, and tools that help build organizations. It operates through the following segments: Research, Consulting, and Conferences. The Research segment provides executives with objective insights and advice through reports, briefings, proprietary tools, access to the firm?s research experts, peer networking services, and membership programs.