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

StockNews.com lowered shares of Gartner (NYSE:ITFree Report) from a buy rating to a hold rating in a report issued on Saturday.

IT has been the topic of several other research reports. BMO Capital Markets upped their target price on shares of Gartner from $444.00 to $450.00 and gave the stock a market perform rating in a research note on Thursday, February 8th. UBS Group increased their price objective on shares of Gartner from $412.00 to $490.00 and gave the company a neutral rating in a research report on Tuesday, February 6th. Wells Fargo & Company increased their price objective on shares of Gartner from $380.00 to $435.00 and gave the company an overweight rating in a research report on Friday, December 15th. Finally, Morgan Stanley increased their price objective on shares of Gartner from $421.00 to $446.00 and gave the company an equal weight rating in a research report on Tuesday, February 6th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $455.25.

View Our Latest Report on Gartner

Gartner Price Performance

IT stock opened at $450.97 on Friday. The firm’s 50-day moving average price is $451.97 and its two-hundred day moving average price is $394.35. Gartner has a 12-month low of $292.60 and a 12-month high of $471.76. The stock has a market capitalization of $35.15 billion, a price-to-earnings ratio of 40.77, a PEG ratio of 4.21 and a beta of 1.30. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 4.32.

Gartner (NYSE:ITGet Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.21. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Gartner had a net margin of 14.94% and a return on equity of 166.35%. Gartner’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.70 earnings per share. As a group, equities analysts predict that Gartner will post 11.42 earnings per share for the current year.

Gartner declared that its board has approved a share repurchase plan on Friday, November 3rd that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the information technology services provider to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Gartner

In other Gartner news, CFO Craig Safian sold 4,387 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $467.37, for a total transaction of $2,050,352.19. Following the transaction, the chief financial officer now owns 64,307 shares of the company’s stock, valued at approximately $30,055,162.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Gartner news, EVP Valentin Sribar sold 675 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $459.06, for a total transaction of $309,865.50. Following the transaction, the executive vice president now owns 11,003 shares in the company, valued at approximately $5,051,037.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Craig Safian sold 4,387 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $467.37, for a total transaction of $2,050,352.19. Following the transaction, the chief financial officer now owns 64,307 shares of the company’s stock, valued at $30,055,162.59. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,369 shares of company stock valued at $6,324,321. Company insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Gartner

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Gartner by 1.1% during the first quarter. Vanguard Group Inc. now owns 9,198,161 shares of the information technology services provider’s stock worth $2,736,085,000 after buying an additional 102,709 shares during the period. BlackRock Inc. lifted its stake in Gartner by 2.6% in the first quarter. BlackRock Inc. now owns 6,394,140 shares of the information technology services provider’s stock worth $2,083,019,000 after acquiring an additional 165,046 shares during the last quarter. State Street Corp lifted its stake in Gartner by 2.0% in the second quarter. State Street Corp now owns 3,132,949 shares of the information technology services provider’s stock worth $1,097,503,000 after acquiring an additional 60,810 shares during the last quarter. Morgan Stanley lifted its stake in Gartner by 4.6% in the third quarter. Morgan Stanley now owns 2,157,075 shares of the information technology services provider’s stock worth $741,193,000 after acquiring an additional 95,040 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Gartner by 20.3% in the first quarter. Wellington Management Group LLP now owns 2,029,738 shares of the information technology services provider’s stock worth $603,766,000 after acquiring an additional 342,228 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Gartner Company Profile

(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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