Gartner (NYSE:IT) Price Target Lowered to $500.00 at UBS Group

Gartner (NYSE:IT) had its price target decreased by UBS Group from $525.00 to $500.00 in a report issued on Wednesday,Benzinga reports. UBS Group currently has a buy rating on the information technology services provider’s stock.

A number of other analysts have also recently weighed in on the company. Wells Fargo & Company cut their price target on Gartner from $401.00 to $400.00 and set an “underweight” rating on the stock in a research note on Thursday, May 1st. Wall Street Zen cut Gartner from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Barclays cut their target price on Gartner from $510.00 to $475.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. The Goldman Sachs Group cut their target price on Gartner from $622.00 to $535.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Finally, Robert W. Baird cut their target price on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $515.89.

Gartner Stock Down 1.4%

Gartner stock opened at $398.91 on Wednesday. Gartner has a 1-year low of $366.05 and a 1-year high of $584.01. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market cap of $30.70 billion, a PE ratio of 24.82, a P/E/G ratio of 2.62 and a beta of 1.23. The stock’s fifty day moving average is $423.78 and its two-hundred day moving average is $464.54.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.72 by $0.26. Gartner had a return on equity of 96.70% and a net margin of 19.82%. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the firm earned $2.93 earnings per share. Gartner’s quarterly revenue was up 4.2% on a year-over-year basis. On average, sell-side analysts expect that Gartner will post 12.5 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Akhil Jain sold 625 shares of the firm’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $450.00, for a total transaction of $281,250.00. Following the transaction, the executive vice president now owns 6,548 shares of the company’s stock, valued at $2,946,600. This trade represents a 8.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP William James Wartinbee III sold 538 shares of Gartner stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $449.09, for a total value of $241,610.42. Following the completion of the sale, the executive vice president now directly owns 7,965 shares in the company, valued at $3,577,001.85. This represents a 6.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,426 shares of company stock valued at $2,430,327 over the last quarter. 2.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Gartner

A number of hedge funds and other institutional investors have recently modified their holdings of IT. Norges Bank acquired a new position in shares of Gartner during the 4th quarter worth approximately $460,541,000. T. Rowe Price Investment Management Inc. raised its position in shares of Gartner by 692.2% during 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 during the last quarter. Madison Investment Advisors LLC acquired a new position in Gartner in the 4th quarter valued at $244,799,000. GAMMA Investing LLC raised its holdings 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 valued at $209,480,000 after acquiring an additional 497,852 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Gartner in the 4th quarter valued at $165,476,000. 91.51% of the stock is currently 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.