Gartner (NYSE:IT) Cut to Hold at Truist Financial

Truist Financial cut shares of Gartner (NYSE:IT) from a buy rating to a hold rating in a report published on Wednesday, Marketbeat Ratings reports. They currently have $210.00 price objective on the information technology services provider’s stock, down from their previous price objective of $235.00.

A number of other brokerages also recently issued reports on IT. Wells Fargo & Company increased their price target on Gartner from $150.00 to $175.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 20th. BMO Capital Markets raised their target price on Gartner from $206.00 to $212.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 13th. Royal Bank Of Canada reissued a “sector perform” rating and set a $198.00 price target on shares of Gartner in a research note on Tuesday, October 20th. The Goldman Sachs Group lifted their price objective on shares of Gartner from $162.00 to $181.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Finally, Morgan Stanley increased their price target on Gartner from $177.00 to $182.00 and gave the company an “equal weight” rating in a research report on Thursday, October 8th. Seven analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $206.20.

Gartner Stock Performance

Shares of IT stock opened at $190.09 on Wednesday. Gartner has a 52 week low of $124.25 and a 52 week high of $256.89. The company has a debt-to-equity ratio of 46.98, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $12.00 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 0.89 and a beta of 0.92. The company has a 50-day simple moving average of $197.27 and a 200 day simple moving average of $169.57.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, November 3rd. The information technology services provider reported $3.59 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.75. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.49 billion. Gartner had a net margin of 11.99% and a return on equity of 525.46%. The business’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.76 earnings per share. On average, sell-side analysts predict that Gartner will post 15.02 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Akhil Jain sold 700 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $201.73, for a total value of $141,211.00. Following the transaction, the executive vice president directly owned 8,130 shares in the company, valued at approximately $1,640,064.90. This trade represents a 7.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Yvonne Genovese sold 1,205 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $190.06, for a total value of $229,022.30. Following the transaction, the executive vice president directly owned 6,208 shares in the company, valued at approximately $1,179,892.48. This represents a 16.26% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 5,183 shares of company stock valued at $1,014,360. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Gartner

Several hedge funds have recently modified their holdings of the company. Robertson Stephens Wealth Management LLC grew its position in shares of Gartner by 1.7% in the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 3,061 shares of the information technology services provider’s stock worth $571,000 after buying an additional 52 shares during the last quarter. Mufg Securities Americas Inc. raised its holdings in Gartner by 3.5% in the 2nd quarter. Mufg Securities Americas Inc. now owns 2,017 shares of the information technology services provider’s stock valued at $261,000 after buying an additional 68 shares during the period. Empirical Finance LLC lifted its position in Gartner by 2.9% in the second quarter. Empirical Finance LLC now owns 2,774 shares of the information technology services provider’s stock valued at $360,000 after acquiring an additional 77 shares during the last quarter. Syon Capital LLC grew its holdings in shares of Gartner by 5.3% in the 2nd quarter. Syon Capital LLC now owns 1,623 shares of the information technology services provider’s stock worth $210,000 after acquiring an additional 82 shares during the period. Finally, New York Life Investment Management LLC boosted its holdings in shares of Gartner by 0.5% in the 3rd quarter. New York Life Investment Management LLC now owns 17,654 shares of the information technology services provider’s stock valued at $3,293,000 after purchasing an additional 92 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Gartner Company Profile

Gartner, Inc is a global research and advisory company that provides information, analysis and guidance to business leaders, technology professionals and public-sector organizations. Its work focuses on helping clients evaluate technology markets, develop business strategies, manage risk and make decisions about digital transformation and other organizational priorities.

The company delivers its services through research and advisory programs, consulting engagements, executive guidance and conferences.