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

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

IT has been the topic of a number of other reports. Wells Fargo & Company decreased their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Morgan Stanley cut their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $525.00 to $600.00 in a research report on Friday, January 10th. Finally, Robert W. Baird upped their target price on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $550.75.

Gartner Stock Up 1.0 %

NYSE IT opened at $548.26 on Tuesday. Gartner has a 52 week low of $411.15 and a 52 week high of $559.00. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31. The business’s fifty day simple moving average is $508.50 and its 200-day simple moving average is $504.99. The firm has a market cap of $42.29 billion, a PE ratio of 40.43, a P/E/G ratio of 3.37 and a beta of 1.34.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.05. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the company posted $2.56 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, equities analysts anticipate that Gartner will post 11.87 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Claire Herkes sold 411 shares of Gartner stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total transaction of $214,229.64. Following the sale, the executive vice president now directly owns 1,494 shares of the company’s stock, valued at approximately $778,732.56. The trade was a 21.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James C. Smith sold 2,450 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $554.68, for a total transaction of $1,358,966.00. Following the completion of the transaction, the director now owns 529,844 shares in the company, valued at $293,893,869.92. This trade represents a 0.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,583 shares of company stock valued at $19,241,974. 3.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Gartner

A number of institutional investors and hedge funds have recently modified their holdings of the company. Eastern Bank purchased a new stake in Gartner in the third quarter worth approximately $26,000. Kestra Investment Management LLC bought a new position in shares of Gartner during the fourth quarter valued at approximately $29,000. Ashton Thomas Securities LLC bought a new position in Gartner in the third quarter worth $44,000. True Wealth Design LLC raised its holdings in Gartner by 2,350.0% in the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after purchasing an additional 94 shares in the last quarter. Finally, Fortitude Family Office LLC raised its holdings in Gartner by 23.8% in the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Company Profile

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.