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

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

Several other research firms also recently weighed in on IT. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Wells Fargo & Company reduced their price target on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. Robert W. Baird lowered their price objective on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Morgan Stanley cut their target price on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. One investment 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $536.63.

Gartner Price Performance

NYSE IT opened at $425.11 on Tuesday. The company has a 50-day moving average price of $496.14 and a two-hundred day moving average price of $506.04. The stock has a market cap of $32.66 billion, a price-to-earnings ratio of 26.52, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. Gartner has a 52 week low of $409.50 and a 52 week high of $584.01.

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

Insider Buying and Selling at Gartner

In related news, Director Eileen Serra sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $489.77, for a total value of $587,724.00. Following the completion of the sale, the director now owns 1,627 shares in the company, valued at approximately $796,855.79. This represents a 42.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the transaction, the senior vice president now directly 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 bought and sold shares of the business. Principal Financial Group Inc. lifted its position in shares of Gartner by 5.5% in the third 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 purchasing an additional 103,814 shares in the last quarter. Raymond James Trust N.A. increased its stake in Gartner by 2.9% in the 3rd quarter. Raymond James Trust N.A. now owns 1,454 shares of the information technology services provider’s stock valued at $737,000 after buying an additional 41 shares during the period. Cerity Partners LLC lifted its position in Gartner by 166.6% in the 3rd quarter. Cerity Partners LLC now owns 17,168 shares of the information technology services provider’s stock worth $8,700,000 after buying an additional 10,729 shares in the last quarter. Larson Financial Group LLC purchased a new stake in Gartner in the 3rd quarter worth approximately $441,000. Finally, Summit Trail Advisors LLC boosted its stake in shares of Gartner by 8.0% during the 3rd quarter. Summit Trail Advisors LLC now owns 947 shares of the information technology services provider’s stock valued at $480,000 after buying an additional 70 shares during the period. 91.51% of the stock is owned by hedge funds and other 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.