Gartner (NYSE:IT) Price Target Cut to $517.00 by Analysts at Robert W. Baird

Gartner (NYSE:IT) had its target price trimmed by Robert W. Baird from $536.00 to $517.00 in a report published on Wednesday, Benzinga reports. The firm currently has an outperform rating on the information technology services provider’s stock.

Several other brokerages also recently weighed in on IT. Morgan Stanley increased 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. UBS Group upgraded shares of Gartner from a neutral rating to a buy rating and raised their target price for the stock from $484.00 to $550.00 in a research note on Thursday, April 11th. BMO Capital Markets lifted their price target on Gartner from $444.00 to $450.00 and gave the company a market perform rating in a research note on Thursday, February 8th. StockNews.com cut Gartner from a buy rating to a hold rating in a research report on Saturday, February 10th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Gartner in a research report on Tuesday, April 16th. They set a hold rating and a $507.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Gartner has a consensus rating of Hold and an average price target of $477.50.

Gartner Trading Up 2.4 %

NYSE IT opened at $422.39 on Wednesday. The firm’s fifty day moving average is $463.85 and its two-hundred day moving average is $439.90. Gartner has a one year low of $295.43 and a one year high of $486.54. The company has a debt-to-equity ratio of 3.60, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market cap of $32.93 billion, a PE ratio of 42.03, a P/E/G ratio of 3.59 and a beta of 1.32.

Gartner (NYSE:IT) last issued its quarterly earnings results 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 147.74% and a net margin of 13.35%. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the previous year, the firm posted $2.88 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. Analysts expect that Gartner will post 11.73 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Claire Herkes sold 1,460 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $475.76, for a total value of $694,609.60. Following the completion of the transaction, the executive vice president now owns 2,842 shares of the company’s stock, valued at approximately $1,352,109.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director James C. Smith sold 5,000 shares of Gartner stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $455.00, for a total value of $2,275,000.00. Following the completion of the sale, the director now owns 638,235 shares of the company’s stock, valued at $290,396,925. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Claire Herkes sold 1,460 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $475.76, for a total value of $694,609.60. Following the transaction, the executive vice president now owns 2,842 shares in the company, valued at $1,352,109.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,952 shares of company stock valued at $10,598,070. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of Gartner

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fortem Financial Group LLC boosted its position in shares of Gartner by 12.0% in the first quarter. Fortem Financial Group LLC now owns 2,823 shares of the information technology services provider’s stock worth $1,346,000 after acquiring an additional 302 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Gartner by 0.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 11,273 shares of the information technology services provider’s stock valued at $5,374,000 after purchasing an additional 59 shares during the last quarter. Fairhaven Wealth Management LLC grew its stake in shares of Gartner by 5.3% during the 1st quarter. Fairhaven Wealth Management LLC now owns 1,182 shares of the information technology services provider’s stock valued at $563,000 after buying an additional 59 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Gartner by 23.7% during the 1st quarter. BNP Paribas Financial Markets now owns 73,439 shares of the information technology services provider’s stock worth $35,006,000 after buying an additional 14,092 shares during the last quarter. Finally, Mission Wealth Management LP increased its holdings in shares of Gartner by 8.6% during the 1st quarter. Mission Wealth Management LP now owns 493 shares of the information technology services provider’s stock worth $235,000 after buying an additional 39 shares during the last quarter. Hedge funds and other institutional investors 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.