Gartner (NYSE:IT) Sets New 1-Year Low Following Analyst Downgrade

Shares of Gartner, Inc. (NYSE:IT) reached a new 52-week low on Tuesday after UBS Group lowered their price target on the stock from $500.00 to $480.00. UBS Group currently has a buy rating on the stock. Gartner traded as low as $365.09 and last traded at $365.62, with a volume of 282201 shares changing hands. The stock had previously closed at $373.28.

IT has been the topic of a number of other reports. Wells Fargo & Company decreased their target price on Gartner from $401.00 to $400.00 and set an “underweight” rating on the stock in a report on Thursday, May 1st. The Goldman Sachs Group reduced their price target on Gartner from $622.00 to $535.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Robert W. Baird lowered their price objective on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Barclays cut their price objective on Gartner from $510.00 to $475.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Finally, Wall Street Zen lowered shares of Gartner from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $513.67.

Insider Buying and Selling at Gartner

In other Gartner news, EVP Akhil Jain sold 625 shares of the business’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $450.00, for a total value of $281,250.00. Following the sale, the executive vice president owned 6,548 shares in the company, valued at $2,946,600. The trade was a 8.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William James Wartinbee III sold 538 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $449.09, for a total transaction of $241,610.42. Following the transaction, the executive vice president directly owned 7,965 shares of the company’s stock, valued at $3,577,001.85. This trade represents a 6.33% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,426 shares of company stock worth $2,430,327. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Gartner

Several large investors have recently made changes to their positions in IT. Brighton Jones LLC bought a new position in Gartner during the fourth quarter valued at $309,000. Commonwealth Equity Services LLC raised its position in shares of Gartner by 0.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 3,379 shares of the information technology services provider’s stock valued at $1,637,000 after buying an additional 30 shares in the last quarter. Cibc World Markets Corp lifted its holdings in shares of Gartner by 16.1% in the 4th quarter. Cibc World Markets Corp now owns 12,144 shares of the information technology services provider’s stock valued at $5,883,000 after acquiring an additional 1,688 shares during the last quarter. Parallel Advisors LLC grew its position in Gartner by 2.9% in the fourth quarter. Parallel Advisors LLC now owns 737 shares of the information technology services provider’s stock worth $357,000 after acquiring an additional 21 shares in the last quarter. Finally, Signaturefd LLC increased its stake in Gartner by 5.9% during the fourth quarter. Signaturefd LLC now owns 1,464 shares of the information technology services provider’s stock worth $709,000 after acquiring an additional 82 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Gartner Stock Performance

The firm has a market capitalization of $27.95 billion, a PE ratio of 22.59, a P/E/G ratio of 2.33 and a beta of 1.19. The business has a 50-day simple moving average of $415.89 and a 200-day simple moving average of $449.38. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.09 and a quick ratio of 1.09.

Gartner (NYSE:IT) last released its earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.26. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Gartner had a return on equity of 96.70% and a net margin of 19.82%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.93 EPS. Equities research analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

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.