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

StockNews.com cut shares of Gartner (NYSE:ITFree Report) from a buy rating to a hold rating in a research note published on Wednesday morning.

Several other analysts also recently issued reports on IT. Robert W. Baird reduced their price target on shares of Gartner from $536.00 to $517.00 and set an outperform rating for the company in a research report on Wednesday, May 1st. Morgan Stanley raised their price objective on Gartner from $421.00 to $446.00 and gave the company an equal weight rating in a research note on Tuesday, February 6th. BMO Capital Markets dropped their price objective on Gartner from $450.00 to $432.00 and set a market perform rating on the stock in a research note on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft began coverage on Gartner in a research note on Tuesday, April 16th. They set a hold rating and a $507.00 price objective on the stock. Finally, UBS Group dropped their price objective on Gartner from $550.00 to $510.00 and set a buy rating on the stock in a research note on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $474.50.

View Our Latest Stock Analysis on IT

Gartner Stock Performance

NYSE IT opened at $419.67 on Wednesday. The company has a fifty day simple moving average of $449.86 and a 200 day simple moving average of $451.18. Gartner has a 12-month low of $323.61 and a 12-month high of $486.54. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.42. The company has a market cap of $32.58 billion, a P/E ratio of 41.76, a PEG ratio of 3.63 and a beta of 1.32.

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

Insider Transactions at Gartner

In other news, EVP Alwyn Dawkins sold 800 shares of Gartner stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $454.57, for a total transaction of $363,656.00. Following the sale, the executive vice president now directly owns 50,783 shares in the company, valued at approximately $23,084,428.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Alwyn Dawkins sold 800 shares of Gartner stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $454.57, for a total transaction of $363,656.00. Following the sale, the executive vice president now directly owns 50,783 shares in the company, valued at approximately $23,084,428.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Yvonne Genovese sold 439 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $456.13, for a total value of $200,241.07. Following the completion of the sale, the executive vice president now owns 1,959 shares in the company, valued at $893,558.67. The disclosure for this sale can be found here. Insiders have sold 18,299 shares of company stock worth $8,429,535 in the last ninety days. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Gartner

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IT. Norges Bank purchased a new position in Gartner during the 4th quarter valued at about $388,781,000. First Trust Advisors LP grew its holdings in Gartner by 830.4% during the 4th quarter. First Trust Advisors LP now owns 514,230 shares of the information technology services provider’s stock valued at $231,974,000 after buying an additional 458,963 shares in the last quarter. American Century Companies Inc. grew its holdings in Gartner by 888.4% during the 3rd quarter. American Century Companies Inc. now owns 300,106 shares of the information technology services provider’s stock valued at $103,119,000 after buying an additional 269,744 shares in the last quarter. Eagle Asset Management Inc. purchased a new position in Gartner during the 3rd quarter valued at about $83,588,000. Finally, Wellington Management Group LLP grew its holdings in Gartner by 12.0% during the 4th quarter. Wellington Management Group LLP now owns 1,852,820 shares of the information technology services provider’s stock valued at $835,826,000 after buying an additional 198,274 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

About Gartner

(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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