Gartner (NYSE:IT) PT Lowered to $517.00

Gartner (NYSE:IT) had its price objective trimmed by Robert W. Baird from $536.00 to $517.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the information technology services provider’s stock.

IT has been the subject of a number of other reports. BMO Capital Markets boosted their price objective on Gartner from $444.00 to $450.00 and gave the stock a market perform rating in a report on Thursday, February 8th. StockNews.com lowered Gartner from a buy rating to a hold rating in a report on Saturday, February 10th. Morgan Stanley boosted their price objective on Gartner from $421.00 to $446.00 and gave the stock an equal weight rating in a report on Tuesday, February 6th. Deutsche Bank Aktiengesellschaft began coverage on Gartner in a report on Tuesday, April 16th. They set a hold rating and a $507.00 price objective for the company. Finally, UBS Group raised Gartner from a neutral rating to a buy rating and boosted their price objective for the stock from $484.00 to $550.00 in a report on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $474.50.

Gartner Stock Up 2.3 %

IT stock opened at $428.64 on Wednesday. The stock’s 50 day simple moving average is $462.52 and its 200 day simple moving average is $440.89. Gartner has a fifty-two week low of $295.43 and a fifty-two week high of $486.54. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market cap of $33.42 billion, a P/E ratio of 42.65, a price-to-earnings-growth ratio of 3.36 and a beta of 1.32.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, April 30th. The information technology services provider reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.40. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.47 billion. Gartner had a return on equity of 141.55% and a net margin of 13.35%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.88 EPS. On average, research analysts expect that Gartner will post 11.55 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Claire Herkes sold 1,460 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $475.76, for a total value of $694,609.60. Following the completion of the transaction, the executive vice president now directly owns 2,842 shares of the company’s stock, valued at $1,352,109.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Gartner news, EVP Akhil Jain sold 250 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $464.55, for a total transaction of $116,137.50. Following the completion of the transaction, the executive vice president now directly owns 5,239 shares of the company’s stock, valued at $2,433,777.45. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Claire Herkes sold 1,460 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $475.76, for a total value of $694,609.60. Following the transaction, the executive vice president now directly owns 2,842 shares of the company’s stock, valued at $1,352,109.92. The disclosure for this sale can be found here. Insiders sold a total of 22,952 shares of company stock valued at $10,598,070 over the last three months. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Gartner

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Gartner during the fourth quarter worth $388,781,000. First Trust Advisors LP lifted its position in shares of Gartner by 830.4% during the fourth quarter. First Trust Advisors LP now owns 514,230 shares of the information technology services provider’s stock worth $231,974,000 after acquiring an additional 458,963 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Gartner by 30.3% during the third quarter. Principal Financial Group Inc. now owns 1,565,046 shares of the information technology services provider’s stock worth $537,766,000 after acquiring an additional 364,128 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Gartner by 888.4% during the third quarter. American Century Companies Inc. now owns 300,106 shares of the information technology services provider’s stock worth $103,119,000 after acquiring an additional 269,744 shares in the last quarter. Finally, Eagle Asset Management Inc. purchased a new stake in shares of Gartner during the third quarter worth $83,588,000. 91.51% of the stock is owned by institutional investors.

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.