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

Gartner (NYSE:ITGet Free Report) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Several other research analysts have also recently commented on IT. BMO Capital Markets lowered their target price on Gartner from $450.00 to $432.00 and set a “market perform” rating for the company in a research note on Thursday, May 2nd. Morgan Stanley upped their target price 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 decreased their price target on shares of Gartner from $536.00 to $517.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of Gartner in a report on Tuesday, April 16th. They set a “hold” rating and a $507.00 price target for the company. Finally, UBS Group reduced their price objective on shares of Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Gartner presently has an average rating of “Hold” and a consensus target price of $474.50.

Check Out Our Latest Report on Gartner

Gartner Stock Performance

NYSE IT opened at $414.47 on Wednesday. The company has a market cap of $32.18 billion, a P/E ratio of 41.24, a P/E/G ratio of 3.81 and a beta of 1.32. Gartner has a 1-year low of $323.61 and a 1-year high of $486.54. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a 50-day moving average of $452.43 and a two-hundred day moving average of $451.40.

Gartner (NYSE:ITGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.40. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Gartner had a net margin of 13.35% and a return on equity of 141.55%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.88 earnings per share. As a group, analysts anticipate that Gartner will post 11.55 EPS for the current year.

Insider Buying and Selling at Gartner

In related news, Director James C. Smith sold 5,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $470.09, for a total value of $2,350,450.00. Following the completion of the sale, the director now directly owns 618,235 shares of the company’s stock, valued at $290,626,091.15. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Alwyn Dawkins sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $447.63, for a total transaction of $268,578.00. Following the transaction, the executive vice president now directly owns 51,583 shares in the company, valued at $23,090,098.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James C. Smith sold 5,000 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $470.09, for a total transaction of $2,350,450.00. Following the completion of the sale, the director now owns 618,235 shares of the company’s stock, valued at approximately $290,626,091.15. The disclosure for this sale can be found here. Insiders have sold 18,299 shares of company stock worth $8,429,535 over the last three months. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of IT. Lincoln National Corp lifted its position in Gartner by 80.4% during the 3rd quarter. Lincoln National Corp now owns 1,402 shares of the information technology services provider’s stock worth $482,000 after acquiring an additional 625 shares during the period. Victory Capital Management Inc. grew its position in Gartner by 2.9% in the 3rd quarter. Victory Capital Management Inc. now owns 35,601 shares of the information technology services provider’s stock valued at $12,233,000 after buying an additional 989 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Gartner by 458.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 14,007 shares of the information technology services provider’s stock valued at $4,813,000 after buying an additional 11,501 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Gartner by 9.0% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 72,920 shares of the information technology services provider’s stock worth $25,056,000 after buying an additional 6,038 shares during the last quarter. Finally, Jump Financial LLC lifted its stake in shares of Gartner by 66.4% in the 3rd quarter. Jump Financial LLC now owns 3,970 shares of the information technology services provider’s stock worth $1,364,000 after acquiring an additional 1,584 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Gartner (NYSE:IT)

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