Gartner (NYSE:IT) Price Target Lowered to $500.00 at UBS Group

Gartner (NYSE:IT) had its target price cut by UBS Group from $565.00 to $500.00 in a research report report published on Tuesday,Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.

Other analysts also recently issued research reports about the stock. Morgan Stanley reduced their price target on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. Robert W. Baird decreased their target price on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $525.00 to $600.00 in a research report on Friday, January 10th. Wells Fargo & Company lowered their target price on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Gartner presently has a consensus rating of “Hold” and a consensus price target of $536.63.

Gartner Stock Down 1.9 %

IT stock opened at $421.46 on Tuesday. The company’s 50 day moving average is $499.54 and its two-hundred day moving average is $507.17. Gartner has a twelve month low of $409.50 and a twelve month high of $584.01. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The stock has a market cap of $32.38 billion, a P/E ratio of 26.29, a PEG ratio of 3.30 and a beta of 1.29.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the previous year, the company earned $3.04 earnings per share. Gartner’s quarterly revenue was up 8.1% compared to the same quarter last year. Research analysts expect that Gartner will post 12.5 earnings per share for the current fiscal year.

Insider Activity at Gartner

In other Gartner news, Director Eileen Serra sold 1,200 shares of Gartner stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $489.77, for a total value of $587,724.00. Following the completion of the transaction, the director now directly owns 1,627 shares in the company, valued at $796,855.79. The trade was a 42.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP John J. Rinello sold 90 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the transaction, the senior vice president now owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This represents a 2.69 % decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Gartner

Hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new stake in Gartner in the 4th quarter valued at approximately $460,541,000. Madison Investment Advisors LLC bought a new position in shares of Gartner in the fourth quarter worth $244,799,000. Raymond James Financial Inc. acquired a new position in shares of Gartner during the fourth quarter valued at $165,476,000. BNP Paribas Financial Markets raised its stake in shares of Gartner by 184.6% during the fourth quarter. BNP Paribas Financial Markets now owns 390,472 shares of the information technology services provider’s stock valued at $189,172,000 after purchasing an additional 253,288 shares in the last quarter. Finally, FMR LLC lifted its holdings in Gartner by 8.6% in the fourth quarter. FMR LLC now owns 2,822,122 shares of the information technology services provider’s stock worth $1,367,233,000 after purchasing an additional 223,087 shares during the period. Institutional investors 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.