Gartner (NYSE:IT) Share Price Breaks Below Fifty Day Moving Average – Here’s What Happened

Gartner, Inc. (NYSE:IT) passed below its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $197.27 and traded as low as $185.00. Gartner shares last traded at $190.0850, with a volume of 1,360,527 shares.

Analyst Upgrades and Downgrades

Several research firms recently commented on IT. The Goldman Sachs Group boosted their target price on Gartner from $181.00 to $207.00 and gave the stock a “neutral” rating in a research note on Wednesday. Wells Fargo & Company raised their price target on Gartner from $150.00 to $175.00 and gave the company an “underweight” rating in a report on Tuesday, October 20th. Barclays downgraded shares of Gartner from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $150.00 to $185.00 in a report on Friday. Royal Bank Of Canada reiterated a “sector perform” rating and set a $198.00 price objective on shares of Gartner in a report on Tuesday, October 20th. Finally, Weiss Ratings downgraded shares of Gartner from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, October 26th. Seven investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $206.20.

Gartner Price Performance

The stock has a 50 day moving average of $197.27 and a two-hundred day moving average of $169.57. 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 firm has a market capitalization of $12.00 billion, a P/E ratio of 13.55, a P/E/G ratio of 0.89 and a beta of 0.92.

Gartner (NYSE:IT) last posted 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. Gartner had a return on equity of 525.46% and a net margin of 11.99%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the company posted $2.76 EPS. The business’s quarterly revenue was down 1.2% on a year-over-year basis. Sell-side analysts predict that Gartner, Inc. will post 15.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Gartner

In other Gartner news, EVP Yvonne Genovese sold 1,205 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $190.06, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robin B. Kranich sold 3,278 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $196.50, for a total transaction of $644,127.00. Following the sale, the executive vice president directly owned 20,358 shares of the company’s stock, valued at approximately $4,000,347. This represents a 13.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 5,183 shares of company stock worth $1,014,360 in the last 90 days. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Gartner

Several institutional investors and hedge funds have recently bought and sold shares of IT. Russell Investments Group Ltd. lifted its position in shares of Gartner by 16.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 63,022 shares of the information technology services provider’s stock worth $11,755,000 after buying an additional 8,706 shares during the period. Maryland State Retirement & Pension System grew its holdings in shares of Gartner by 27.7% during the third quarter. Maryland State Retirement & Pension System now owns 4,325 shares of the information technology services provider’s stock valued at $807,000 after buying an additional 938 shares during the last quarter. New South Capital Management Inc. purchased a new position in Gartner in the third quarter worth about $22,791,000. Ritholtz Wealth Management purchased a new position in shares of Gartner during the third quarter worth $417,000. Finally, Illinois Municipal Retirement Fund boosted its position in shares of Gartner by 43.6% during the third quarter. Illinois Municipal Retirement Fund now owns 27,109 shares of the information technology services provider’s stock worth $5,057,000 after buying an additional 8,237 shares during the period. Institutional investors and hedge funds 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.