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

Gartner (NYSE:IT) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

A number of other analysts have also issued reports on IT. Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. Wells Fargo & Company cut their target price on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. Morgan Stanley lifted their price target on Gartner from $560.00 to $564.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Robert W. Baird upped their price objective on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $551.88.

Gartner Stock Up 2.0 %

Shares of Gartner stock opened at $509.57 on Tuesday. Gartner has a 1-year low of $411.15 and a 1-year high of $559.00. The company has a market capitalization of $39.31 billion, a PE ratio of 37.58, a P/E/G 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. The business has a 50-day moving average of $508.69 and a 200-day moving average of $497.40.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, beating 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 firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the business posted $2.56 earnings per share. Gartner’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, equities analysts forecast that Gartner will post 11.87 EPS for the current fiscal year.

Insider Buying and Selling at Gartner

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

Hedge Funds Weigh In On Gartner

Hedge funds and other institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. raised its stake in shares of Gartner by 208.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 272,267 shares of the information technology services provider’s stock valued at $131,905,000 after purchasing an additional 183,974 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Gartner during the 3rd quarter valued at about $70,955,000. Principal Financial Group Inc. raised its position in shares of Gartner by 5.5% during the 3rd quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock worth $1,014,099,000 after buying an additional 103,814 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Gartner in the 3rd quarter worth approximately $36,789,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Gartner by 7.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock worth $525,272,000 after acquiring an additional 70,236 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

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.