Gartner (NYSE:IT) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Gartner (NYSE:IT) from a buy rating to a hold rating in a report released on Friday morning.

Several other brokerages also recently commented on IT. Robert W. Baird dropped their target price on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a report on Friday. Barclays upgraded 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, January 10th. The Goldman Sachs Group reiterated a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. Wells Fargo & Company dropped their price objective on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a report on Friday, January 10th. Finally, Morgan Stanley dropped their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $546.63.

Gartner Stock Performance

Gartner stock opened at $430.03 on Friday. The stock’s 50-day moving average is $502.37 and its 200-day moving average is $507.99. The company has a market cap of $33.03 billion, a price-to-earnings ratio of 26.83, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. Gartner has a 12 month low of $409.50 and a 12 month high of $584.01.

Gartner (NYSE:IT) last announced 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 business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.69 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The company’s revenue was up 8.1% on a year-over-year basis. During the same period last year, the business posted $3.04 EPS. Equities analysts anticipate that Gartner will post 12.5 earnings per share for the current year.

Insider Transactions at Gartner

In other news, SVP John J. Rinello sold 90 shares of Gartner stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $530.51, for a total value of $47,745.90. Following the completion of the transaction, the senior vice president now owns 3,259 shares in the company, valued at approximately $1,728,932.09. This trade represents a 2.69 % 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, Director Eileen Serra sold 1,200 shares of Gartner stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $489.77, for a total value of $587,724.00. Following the completion of the transaction, the director now owns 1,627 shares of the company’s stock, valued at approximately $796,855.79. The trade was a 42.45 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 111 Capital acquired a new position in Gartner during the 4th quarter valued at approximately $782,000. Siemens Fonds Invest GmbH boosted its position in Gartner by 4.0% during the 4th quarter. Siemens Fonds Invest GmbH now owns 854 shares of the information technology services provider’s stock valued at $415,000 after purchasing an additional 33 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Gartner during the 4th quarter valued at approximately $30,425,000. Jefferies Financial Group Inc. boosted its position in Gartner by 982.9% during the 4th quarter. Jefferies Financial Group Inc. now owns 10,851 shares of the information technology services provider’s stock valued at $5,257,000 after purchasing an additional 9,849 shares during the period. Finally, Ascent Group LLC boosted its position in Gartner by 4.7% during the 4th quarter. Ascent Group LLC now owns 929 shares of the information technology services provider’s stock valued at $450,000 after purchasing an additional 42 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

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.