BMO Capital Markets Cuts Gartner (NYSE:IT) Price Target to $432.00

Gartner (NYSE:IT) had its target price lowered by BMO Capital Markets from $450.00 to $432.00 in a report released on Thursday, Benzinga reports. The firm currently has a market perform rating on the information technology services provider’s stock.

IT has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Gartner in a research report on Tuesday, April 16th. They issued a hold rating and a $507.00 price objective for the company. UBS Group decreased their price objective on Gartner from $550.00 to $510.00 and set a buy rating on the stock in a report on Wednesday. Morgan Stanley raised their price target on Gartner from $421.00 to $446.00 and gave the stock an equal weight rating in a research note on Tuesday, February 6th. Robert W. Baird dropped their price objective on shares of Gartner from $536.00 to $517.00 and set an outperform rating for the company in a research note on Wednesday. Finally, StockNews.com cut shares of Gartner from a buy rating to a hold rating in a research report on Saturday, February 10th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Gartner has a consensus rating of Moderate Buy and a consensus price target of $474.50.

Gartner Price Performance

Shares of NYSE IT traded up $9.60 during midday trading on Thursday, hitting $428.64. The company had a trading volume of 478,615 shares, compared to its average volume of 463,111. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.42. The business has a 50-day simple moving average of $462.52 and a two-hundred day simple moving average of $440.89. Gartner has a twelve month low of $295.43 and a twelve month high of $486.54. The firm has a market capitalization of $33.42 billion, a price-to-earnings ratio of 42.65, a price-to-earnings-growth ratio of 3.44 and a beta of 1.32.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.40. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Gartner had a return on equity of 141.55% and a net margin of 13.35%. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the business posted $2.88 earnings per share. Equities research analysts anticipate that Gartner will post 11.55 earnings per share for the current year.

Insider Buying and Selling at Gartner

In other Gartner news, EVP Valentin Sribar sold 682 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $453.00, for a total transaction of $308,946.00. Following the transaction, the executive vice president now directly owns 12,269 shares in the company, valued at approximately $5,557,857. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Gartner news, EVP Valentin Sribar sold 682 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $453.00, for a total transaction of $308,946.00. Following the sale, the executive vice president now directly owns 12,269 shares of the company’s stock, valued at $5,557,857. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Claire Herkes sold 1,460 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $475.76, for a total transaction of $694,609.60. Following the sale, the executive vice president now directly owns 2,842 shares in the company, valued at $1,352,109.92. The disclosure for this sale can be found here. Insiders have sold 22,952 shares of company stock worth $10,598,070 in the last ninety days. 3.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Gartner

Several large investors have recently bought and sold shares of the stock. Mediolanum International Funds Ltd acquired a new position in Gartner during the 1st quarter valued at about $4,759,000. GSA Capital Partners LLP bought a new position in shares of Gartner during the 1st quarter valued at about $1,121,000. Central Pacific Bank Trust Division bought a new position in shares of Gartner during the 1st quarter valued at about $36,000. Whittier Trust Co. boosted its position in shares of Gartner by 43.5% during the 1st quarter. Whittier Trust Co. now owns 432 shares of the information technology services provider’s stock valued at $206,000 after purchasing an additional 131 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Gartner by 3.3% during the 1st quarter. Jennison Associates LLC now owns 79,116 shares of the information technology services provider’s stock valued at $37,712,000 after purchasing an additional 2,543 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

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.