Gartner (NYSE:IT) Price Target Cut to $510.00 by Analysts at UBS Group

Gartner (NYSE:IT) had its target price reduced by UBS Group from $550.00 to $510.00 in a report published on Wednesday, Benzinga reports. UBS Group currently has a buy rating on the information technology services provider’s stock.

A number of other research firms have also commented on IT. StockNews.com lowered shares of Gartner from a buy rating to a hold rating in a research note on Saturday, February 10th. Morgan Stanley boosted their price target on shares of Gartner from $421.00 to $446.00 and gave the stock an equal weight rating in a research note on Tuesday, February 6th. Robert W. Baird dropped their price target on shares of Gartner from $536.00 to $517.00 and set an outperform rating on the stock in a research note on Wednesday. BMO Capital Markets boosted their price target on shares of Gartner from $444.00 to $450.00 and gave the stock a market perform rating in a research note on Thursday, February 8th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Gartner in a research note on Tuesday, April 16th. They set a hold rating and a $507.00 price target on the stock. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Hold and an average target price of $477.50.

Gartner Trading Up 2.4 %

NYSE IT opened at $422.39 on Wednesday. The company has a debt-to-equity ratio of 3.60, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market cap of $32.93 billion, a PE ratio of 38.19, a P/E/G ratio of 4.12 and a beta of 1.29. Gartner has a one year low of $295.43 and a one year high of $486.54. The firm’s fifty day moving average is $463.85 and its two-hundred day moving average is $439.90.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, April 30th. The information technology services provider reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.40. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.47 billion. Gartner had a net margin of 14.94% and a return on equity of 156.35%. Gartner’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.88 earnings per share. Analysts expect that Gartner will post 11.29 earnings per share for the current year.

Insider Buying and Selling

In related news, Director James C. Smith sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $459.68, for a total transaction of $4,596,800.00. Following the sale, the director now owns 623,235 shares of the company’s stock, valued at $286,488,664.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Gartner news, EVP Claire Herkes sold 1,460 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $475.76, for a total value of $694,609.60. Following the sale, the executive vice president now owns 2,842 shares of the company’s stock, valued at $1,352,109.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James C. Smith sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $459.68, for a total transaction of $4,596,800.00. Following the completion of the sale, the director now directly owns 623,235 shares in the company, valued at approximately $286,488,664.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,952 shares of company stock valued at $10,598,070. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of Gartner

Several institutional investors and hedge funds have recently modified their holdings of IT. Fox Run Management L.L.C. acquired a new position in shares of Gartner in the third quarter valued at approximately $230,000. RFG Advisory LLC increased its position in Gartner by 37.2% during the fourth quarter. RFG Advisory LLC now owns 1,589 shares of the information technology services provider’s stock worth $717,000 after purchasing an additional 431 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Gartner by 169.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 37,708 shares of the information technology services provider’s stock worth $17,010,000 after purchasing an additional 23,701 shares during the last quarter. Chapin Davis Inc. acquired a new position in Gartner during the fourth quarter worth approximately $960,000. Finally, Stifel Financial Corp increased its position in Gartner by 32.6% during the third quarter. Stifel Financial Corp now owns 33,817 shares of the information technology services provider’s stock worth $11,620,000 after purchasing an additional 8,319 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

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.