Gartner (NYSE:IT) Given New $510.00 Price Target at UBS Group

Gartner (NYSE:IT) had its price target lowered by UBS Group from $550.00 to $510.00 in a report released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the information technology services provider’s stock.

Several other equities research analysts also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Gartner in a research note on Tuesday, April 16th. They issued a hold rating and a $507.00 target price for the company. StockNews.com cut shares of Gartner from a buy rating to a hold rating in a report on Saturday, February 10th. Robert W. Baird lowered their price target on shares of Gartner from $536.00 to $517.00 and set an outperform rating on the stock in a report on Wednesday. BMO Capital Markets raised their target price on shares of Gartner from $444.00 to $450.00 and gave the stock a market perform rating in a report on Thursday, February 8th. Finally, Morgan Stanley raised their target price on shares of Gartner from $421.00 to $446.00 and gave the stock an equal weight rating in a report on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $474.50.

Gartner Trading Up 2.3 %

Gartner stock opened at $428.64 on Wednesday. Gartner has a one year low of $295.43 and a one year high of $486.54. The company has a market cap of $33.42 billion, a price-to-earnings ratio of 42.65, a P/E/G ratio of 3.44 and a beta of 1.32. The firm has a 50-day moving average of $462.52 and a 200-day moving average of $440.89. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.91 and a quick ratio of 0.91.

Gartner (NYSE:IT) last issued its 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 net margin of 13.35% and a return on equity of 141.55%. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period last year, the business posted $2.88 EPS. Gartner’s revenue was up 4.5% on a year-over-year basis. On average, equities analysts expect that Gartner will post 11.55 earnings per share for the current fiscal year.

Insider Activity at Gartner

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

Institutional Trading of Gartner

A number of hedge funds have recently added to or reduced their stakes in the stock. BSW Wealth Partners lifted its holdings in shares of Gartner by 3.7% during the fourth quarter. BSW Wealth Partners now owns 617 shares of the information technology services provider’s stock worth $278,000 after purchasing an additional 22 shares during the period. Allworth Financial LP lifted its holdings in shares of Gartner by 2.8% during the fourth quarter. Allworth Financial LP now owns 807 shares of the information technology services provider’s stock worth $364,000 after purchasing an additional 22 shares during the period. Sheaff Brock Investment Advisors LLC lifted its holdings in shares of Gartner by 0.5% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 4,900 shares of the information technology services provider’s stock worth $2,210,000 after purchasing an additional 22 shares during the period. AdvisorNet Financial Inc lifted its holdings in shares of Gartner by 59.5% during the fourth quarter. AdvisorNet Financial Inc now owns 67 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 25 shares during the period. Finally, Hexagon Capital Partners LLC lifted its holdings in shares of Gartner by 36.2% during the fourth quarter. Hexagon Capital Partners LLC now owns 94 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 25 shares during the period. Institutional investors and hedge funds 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.