Robert W. Baird Cuts Gartner (NYSE:IT) Price Target to $557.00

Gartner (NYSE:IT) had its target price reduced by Robert W. Baird from $605.00 to $557.00 in a research note issued to investors on Friday,Benzinga reports. Robert W. Baird currently has an outperform rating on the information technology services provider’s stock.

Several other equities research analysts have also issued reports on the stock. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $525.00 to $600.00 in a research report on Friday, January 10th. The Goldman Sachs Group restated a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. Morgan Stanley reduced their price target on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Wells Fargo & Company dropped their price objective on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. Finally, StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $546.63.

Gartner Stock Performance

Shares of NYSE:IT opened at $430.03 on Friday. The business has a 50-day moving average of $502.37 and a two-hundred day moving average of $507.99. The firm has a market capitalization of $33.03 billion, a PE ratio of 26.83, a P/E/G ratio of 3.30 and a beta of 1.29. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. Gartner has a 12 month low of $409.50 and a 12 month high of $584.01.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the prior year, the company earned $3.04 EPS. The company’s revenue was up 8.1% on a year-over-year basis. As a group, research analysts forecast that Gartner will post 12.5 earnings per share for the current year.

Insider Buying and Selling at Gartner

In other Gartner news, SVP John J. Rinello sold 90 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the sale, the senior vice president now owns 3,259 shares in the company, valued at $1,728,932.09. This represents a 2.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Eileen Serra sold 1,200 shares of Gartner stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $489.77, for a total value of $587,724.00. Following the completion of the transaction, the director now owns 1,627 shares of the company’s stock, valued at approximately $796,855.79. The trade was a 42.45 % decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank bought a new position in Gartner in the fourth quarter worth about $460,541,000. Madison Investment Advisors LLC acquired a new stake in shares of Gartner during the 4th quarter worth approximately $244,799,000. Raymond James Financial Inc. bought a new stake in shares of Gartner in the 4th quarter worth approximately $165,476,000. BNP Paribas Financial Markets boosted its position in Gartner by 184.6% during the 4th quarter. BNP Paribas Financial Markets now owns 390,472 shares of the information technology services provider’s stock valued at $189,172,000 after purchasing an additional 253,288 shares during the period. Finally, FMR LLC boosted its position in Gartner by 8.6% during the 4th quarter. FMR LLC now owns 2,822,122 shares of the information technology services provider’s stock valued at $1,367,233,000 after purchasing an additional 223,087 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

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.