Gartner (NYSE:IT) Price Target Cut to $432.00

Gartner (NYSE:IT) had its target price trimmed by BMO Capital Markets from $450.00 to $432.00 in a report released on Thursday morning, Benzinga reports. They currently have a market perform rating on the information technology services provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley boosted their target price on shares of Gartner from $421.00 to $446.00 and gave the company an equal weight rating in a research report on Tuesday, February 6th. Robert W. Baird cut their price objective on shares of Gartner from $536.00 to $517.00 and set an outperform rating for the company in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of Gartner in a research report on Tuesday, April 16th. They set a hold rating and a $507.00 price objective for the company. UBS Group cut their price objective on shares of Gartner from $550.00 to $510.00 and set a buy rating for the company in a research report on Wednesday, May 1st. Finally, StockNews.com cut shares of Gartner from a buy rating to a hold rating in a research report on Saturday, February 10th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Gartner currently has a consensus rating of Moderate Buy and an average price target of $474.50.

Gartner Stock Performance

Shares of NYSE:IT traded up $6.61 on Thursday, hitting $435.25. The company had a trading volume of 91,271 shares, compared to its average volume of 407,272. Gartner has a 1-year low of $300.94 and a 1-year high of $486.54. The stock has a market cap of $33.94 billion, a price-to-earnings ratio of 42.65, a P/E/G ratio of 3.44 and a beta of 1.32. The stock has a 50 day moving average price of $462.52 and a 200 day moving average price of $441.53. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.42.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.40. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Gartner had a net margin of 13.35% and a return on equity of 141.55%. Gartner’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.88 earnings per share. Analysts expect that Gartner will post 11.55 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Valentin Sribar sold 682 shares of the business’s 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 sale, the executive vice president now directly owns 12,269 shares of the company’s stock, valued at approximately $5,557,857. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director James C. Smith sold 5,000 shares of the business’s stock in a transaction dated 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 directly owns 638,235 shares of the company’s stock, valued at approximately $290,396,925. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Valentin Sribar sold 682 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $453.00, for a total value of $308,946.00. Following the sale, the executive vice president now directly owns 12,269 shares of the company’s stock, valued at $5,557,857. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,952 shares of company stock valued at $10,598,070. 3.60% of the stock is currently owned by company insiders.

Institutional Trading of Gartner

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC boosted its stake in shares of Gartner by 32.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 5,371 shares of the information technology services provider’s stock worth $1,846,000 after buying an additional 1,310 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Gartner by 115.5% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 5,601 shares of the information technology services provider’s stock worth $1,925,000 after buying an additional 3,002 shares during the last quarter. Raymond James & Associates boosted its stake in shares of Gartner by 6.4% in the 3rd quarter. Raymond James & Associates now owns 122,804 shares of the information technology services provider’s stock worth $42,197,000 after buying an additional 7,377 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new position in shares of Gartner in the 3rd quarter worth approximately $373,000. Finally, Stratos Wealth Advisors LLC boosted its stake in shares of Gartner by 3.9% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 1,588 shares of the information technology services provider’s stock worth $546,000 after buying an additional 60 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

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.