Barclays Cuts Gartner (NYSE:IT) Price Target to $510.00

Gartner (NYSE:IT) had its price target decreased by Barclays from $600.00 to $510.00 in a research report released on Friday,Benzinga reports. Barclays currently has an overweight rating on the information technology services provider’s stock.

A number of other equities research analysts have also commented on the company. 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 lowered their target price on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. UBS Group cut their price target on shares of Gartner from $565.00 to $500.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. Robert W. Baird lowered their price objective on Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $525.38.

Gartner Price Performance

Gartner stock opened at $383.12 on Friday. The company has a market capitalization of $29.43 billion, a PE ratio of 23.90, a P/E/G ratio of 3.30 and a beta of 1.26. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The stock has a 50-day moving average price of $482.71 and a two-hundred day moving average price of $502.12. Gartner has a 12 month low of $382.23 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 EPS for the quarter, topping the consensus estimate of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same period last year, the company earned $3.04 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. Analysts expect that Gartner will post 12.5 EPS for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Gartner

Several large investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc raised its stake in shares of Gartner by 176.1% in the first quarter. Versant Capital Management Inc now owns 323 shares of the information technology services provider’s stock worth $136,000 after purchasing an additional 206 shares during the last quarter. First Hawaiian Bank raised its position in Gartner by 19.1% in the 1st quarter. First Hawaiian Bank now owns 2,572 shares of the information technology services provider’s stock valued at $1,080,000 after buying an additional 413 shares during the last quarter. 111 Capital bought a new position in Gartner during the 4th quarter valued at $782,000. Siemens Fonds Invest GmbH lifted its stake in Gartner by 4.0% during the 4th quarter. Siemens Fonds Invest GmbH now owns 854 shares of the information technology services provider’s stock valued at $415,000 after acquiring an additional 33 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Gartner during the 4th quarter worth $30,425,000. Institutional investors own 91.51% of the company’s stock.

Gartner Company Profile

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.