Wells Fargo & Company Issues Pessimistic Forecast for Gartner (NYSE:IT) Stock Price

Gartner (NYSE:IT) had its price objective dropped by stock analysts at Wells Fargo & Company from $470.00 to $460.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “underweight” rating on the information technology services provider’s stock. Wells Fargo & Company‘s target price would suggest a potential downside of 5.91% from the stock’s previous close.

A number of other research firms have also weighed in on IT. Robert W. Baird raised their target price on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Morgan Stanley raised their target price on shares of Gartner from $560.00 to $564.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $525.00 to $600.00 in a report on Friday. Finally, StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $551.88.

Gartner Trading Down 1.3 %

Gartner stock opened at $488.91 on Friday. The stock has a market cap of $37.71 billion, a P/E ratio of 36.06, a PEG ratio of 3.18 and a beta of 1.33. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02. Gartner has a 1 year low of $411.15 and a 1 year high of $559.00. The firm’s 50 day moving average price is $509.76 and its 200-day moving average price is $496.27.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the firm posted $2.56 earnings per share. Gartner’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities analysts predict that Gartner will post 11.87 earnings per share for the current fiscal year.

Insider Transactions at Gartner

In related news, EVP William James Wartinbee III sold 189 shares of Gartner stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $523.54, for a total value of $98,949.06. Following the completion of the sale, the executive vice president now directly owns 7,311 shares in the company, valued at $3,827,600.94. The trade was a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Claire Herkes sold 411 shares of Gartner stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total value of $214,229.64. Following the completion of the sale, the executive vice president now owns 1,494 shares of the company’s stock, valued at $778,732.56. The trade was a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,583 shares of company stock worth $19,241,974. 3.60% of the stock is currently owned by insiders.

Institutional Trading of Gartner

Institutional investors and hedge funds have recently made changes to their positions in the company. Choreo LLC bought a new position in Gartner in the second quarter worth about $722,000. Assetmark Inc. raised its holdings in Gartner by 70.0% in the third quarter. Assetmark Inc. now owns 5,144 shares of the information technology services provider’s stock worth $2,607,000 after purchasing an additional 2,118 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Gartner by 9.0% during the second quarter. Federated Hermes Inc. now owns 59,393 shares of the information technology services provider’s stock worth $26,671,000 after acquiring an additional 4,887 shares during the last quarter. ING Groep NV grew its stake in shares of Gartner by 38.4% during the third quarter. ING Groep NV now owns 10,306 shares of the information technology services provider’s stock worth $5,223,000 after acquiring an additional 2,860 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Gartner by 8.6% during the third quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock worth $84,520,000 after acquiring an additional 13,205 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

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.