Gartner, Inc. (NYSE:IT) Receives Consensus Rating of “Hold” from Brokerages

Gartner, Inc. (NYSE:IT) has earned a consensus recommendation of “Hold” from the nine research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $518.67.

Several equities analysts recently issued reports on the company. Robert W. Baird reduced their price objective on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Wells Fargo & Company cut their target price on Gartner from $401.00 to $400.00 and set an “underweight” rating on the stock in a research note on Thursday, May 1st. Barclays cut their target price on Gartner from $510.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. UBS Group raised their target price on Gartner from $500.00 to $525.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Finally, StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research note on Friday, March 21st.

Gartner Stock Performance

Shares of IT opened at $447.70 on Wednesday. The business’s fifty day moving average price is $420.53 and its 200 day moving average price is $478.96. Gartner has a 12-month low of $366.05 and a 12-month high of $584.01. The stock has a market capitalization of $34.39 billion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 3.30 and a beta of 1.24. 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 (NYSE:IT) last announced its quarterly earnings data on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.26. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the business posted $2.93 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities research analysts forecast that Gartner will post 12.5 EPS for the current year.

Insider Activity

In related news, EVP William James Wartinbee III sold 538 shares of Gartner stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $449.09, for a total transaction of $241,610.42. Following the transaction, the executive vice president now directly owns 7,965 shares of the company’s stock, valued at $3,577,001.85. The trade was a 6.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eileen Serra sold 1,200 shares of Gartner stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $489.77, for a total value of $587,724.00. Following the transaction, the director now directly owns 1,627 shares in the company, valued at approximately $796,855.79. The trade was a 42.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,001 shares of company stock valued at $2,736,801. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IT. Norges Bank acquired a new position in Gartner during the fourth quarter worth about $460,541,000. T. Rowe Price Investment Management Inc. increased its stake in Gartner by 692.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,066,732 shares of the information technology services provider’s stock worth $447,751,000 after purchasing an additional 932,077 shares in the last quarter. Madison Investment Advisors LLC purchased a new position in Gartner in the 4th quarter worth about $244,799,000. GAMMA Investing LLC increased its stake in Gartner by 40,841.0% in the 1st quarter. GAMMA Investing LLC now owns 499,071 shares of the information technology services provider’s stock worth $209,480,000 after purchasing an additional 497,852 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Gartner in the 4th quarter worth about $165,476,000. 91.51% of the stock is owned by institutional investors and hedge funds.

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.