Barclays Has Lowered Expectations for Gartner (NYSE:IT) Stock Price

Gartner (NYSE:IT) had its price target dropped by equities researchers at Barclays from $510.00 to $475.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the information technology services provider’s stock. Barclays‘s price target points to a potential upside of 18.37% from the stock’s previous close.

A number of other research firms have also weighed in on IT. Wells Fargo & Company dropped their target price on Gartner from $488.00 to $401.00 and set an “underweight” rating on the stock in a report on Wednesday, April 9th. Robert W. Baird dropped their price objective on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. Morgan Stanley lowered their target price on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Finally, 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 report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $513.63.

Gartner Stock Performance

Shares of IT stock opened at $401.30 on Monday. 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 firm has a fifty day simple moving average of $443.89 and a two-hundred day simple moving average of $491.12. Gartner has a 12 month low of $366.05 and a 12 month high of $584.01. The firm has a market capitalization of $30.83 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 3.30 and a beta of 1.26.

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 company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the previous year, the firm posted $3.04 earnings per share. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. Analysts forecast that Gartner will post 12.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Eileen Serra sold 1,200 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the transaction, the director now owns 1,627 shares in the company, valued at approximately $796,855.79. This represents a 42.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John J. Rinello sold 90 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the completion of 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 disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Gartner

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Howard Capital Management Inc. lifted its stake in shares of Gartner by 4.4% during the 4th quarter. Howard Capital Management Inc. now owns 452 shares of the information technology services provider’s stock valued at $219,000 after buying an additional 19 shares in the last quarter. Gilbert & Cook Inc. raised its holdings in Gartner by 1.5% during the 4th quarter. Gilbert & Cook Inc. now owns 1,364 shares of the information technology services provider’s stock valued at $661,000 after acquiring an additional 20 shares during the period. Dorsey & Whitney Trust CO LLC lifted its position in shares of Gartner by 2.5% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 826 shares of the information technology services provider’s stock worth $400,000 after acquiring an additional 20 shares in the last quarter. Sompo Asset Management Co. Ltd. boosted its holdings in shares of Gartner by 1.7% in the fourth quarter. Sompo Asset Management Co. Ltd. now owns 1,210 shares of the information technology services provider’s stock worth $586,000 after acquiring an additional 20 shares during the period. Finally, Parallel Advisors LLC grew its position in shares of Gartner by 2.9% in the fourth quarter. Parallel Advisors LLC now owns 737 shares of the information technology services provider’s stock valued at $357,000 after purchasing an additional 21 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

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.