Gartner (NYSE:IT) Downgraded to “Hold” at StockNews.com

Gartner (NYSE:ITGet Free Report) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

Several other research analysts have also recently weighed in on IT. BMO Capital Markets cut their price target on shares of Gartner from $450.00 to $432.00 and set a “market perform” rating on the stock in a report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Gartner in a research note on Tuesday, April 16th. They issued a “hold” rating and a $507.00 target price on the stock. UBS Group dropped their target price on shares of Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Morgan Stanley boosted their target price on shares of Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Finally, Robert W. Baird dropped their target price on shares of Gartner from $536.00 to $517.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $474.50.

Read Our Latest Research Report on IT

Gartner Stock Up 0.5 %

Shares of NYSE:IT traded up $2.23 during midday trading on Friday, hitting $438.98. 311,011 shares of the company’s stock were exchanged, compared to its average volume of 473,938. Gartner has a 12 month low of $303.10 and a 12 month high of $486.54. The company has a market cap of $34.23 billion, a PE ratio of 43.68, a price-to-earnings-growth ratio of 3.50 and a beta of 1.32. The stock has a 50 day moving average price of $459.69 and a 200-day moving average price of $443.31. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.91 and a quick ratio of 0.91.

Gartner (NYSE:ITGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.40. Gartner had a net margin of 13.35% and a return on equity of 141.55%. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the previous year, the company earned $2.88 earnings per share. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Gartner will post 11.55 EPS for the current fiscal year.

Insider Activity

In other news, EVP Yvonne Genovese sold 560 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $457.37, for a total value of $256,127.20. Following the sale, the executive vice president now owns 2,398 shares of the company’s stock, valued at $1,096,773.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Yvonne Genovese sold 560 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $457.37, for a total transaction of $256,127.20. Following the sale, the executive vice president now owns 2,398 shares of the company’s stock, valued at approximately $1,096,773.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Akhil Jain sold 250 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 5,239 shares in the company, valued at approximately $2,433,777.45. The disclosure for this sale can be found here. Insiders have sold a total of 22,952 shares of company stock valued at $10,598,070 over the last quarter. Company insiders own 3.60% of the company’s stock.

Institutional Trading of Gartner

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. TIAA Trust National Association increased its holdings in shares of Gartner by 3.2% in the 1st quarter. TIAA Trust National Association now owns 744 shares of the information technology services provider’s stock worth $355,000 after buying an additional 23 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Gartner by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 8,974,760 shares of the information technology services provider’s stock worth $4,277,999,000 after buying an additional 60,786 shares during the last quarter. Spirepoint Private Client LLC bought a new position in shares of Gartner in the 1st quarter worth $1,256,000. Nicolet Advisory Services LLC increased its holdings in shares of Gartner by 13.3% in the 1st quarter. Nicolet Advisory Services LLC now owns 801 shares of the information technology services provider’s stock worth $376,000 after buying an additional 94 shares during the last quarter. Finally, Mizuho Markets Americas LLC bought a new position in shares of Gartner in the 1st quarter worth $10,487,000. Institutional investors own 91.51% of the company’s stock.

About Gartner

(Get Free Report)

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.

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Analyst Recommendations for Gartner (NYSE:IT)

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