Gartner (NYSE:IT) Trading Down 6.5%

Gartner, Inc. (NYSE:IT)’s share price dropped 6.5% during trading on Tuesday . The company traded as low as $414.17 and last traded at $419.68. Approximately 269,624 shares changed hands during mid-day trading, a decline of 30% from the average daily volume of 387,302 shares. The stock had previously closed at $448.65.

Analyst Ratings Changes

IT has been the subject of a number of analyst reports. BMO Capital Markets raised their price target on Gartner from $444.00 to $450.00 and gave the stock a “market perform” rating in a report on Thursday, February 8th. Morgan Stanley raised their price target 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 initiated coverage on Gartner in a report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price target for the company. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a report on Saturday, February 10th. Finally, UBS Group raised Gartner from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $484.00 to $550.00 in a research note on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $477.60.

Gartner Stock Down 6.2 %

The company has a market cap of $32.82 billion, a P/E ratio of 38.08, a price-to-earnings-growth ratio of 4.12 and a beta of 1.29. The company has a 50 day moving average of $464.87 and a 200-day moving average of $439.64. The company has a debt-to-equity ratio of 3.60, a current ratio of 0.91 and a quick ratio of 0.91.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.40. Gartner had a return on equity of 156.35% and a net margin of 14.94%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter last year, the company earned $2.88 earnings per share. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. On average, equities analysts predict that Gartner, Inc. will post 11.29 earnings per share for the current year.

Insiders Place Their Bets

In other Gartner news, EVP Akhil Jain sold 250 shares of Gartner stock in a transaction dated 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 sale, the executive vice president now 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 at the SEC website. In other news, EVP Akhil Jain sold 250 shares of Gartner stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $464.55, for a total value of $116,137.50. Following the transaction, the executive vice president now owns 5,239 shares in the company, valued at $2,433,777.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Valentin Sribar sold 682 shares of Gartner stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $453.00, for a total value of $308,946.00. Following the completion of the transaction, the executive vice president now owns 12,269 shares in the company, valued at approximately $5,557,857. 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 90 days. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. BSW Wealth Partners grew its stake in shares of Gartner by 3.7% in the 4th quarter. BSW Wealth Partners now owns 617 shares of the information technology services provider’s stock worth $278,000 after buying an additional 22 shares during the last quarter. Allworth Financial LP boosted its stake in Gartner by 2.8% during the 4th quarter. Allworth Financial LP now owns 807 shares of the information technology services provider’s stock valued at $364,000 after purchasing an additional 22 shares during the last quarter. Sheaff Brock Investment Advisors LLC boosted its stake in Gartner by 0.5% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 4,900 shares of the information technology services provider’s stock valued at $2,210,000 after purchasing an additional 22 shares during the last quarter. AdvisorNet Financial Inc boosted its stake in Gartner by 59.5% during the 4th quarter. AdvisorNet Financial Inc now owns 67 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 25 shares during the last quarter. Finally, Hexagon Capital Partners LLC boosted its stake in Gartner by 36.2% during the 4th quarter. Hexagon Capital Partners LLC now owns 94 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

About Gartner

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.