Gartner (NYSE:IT) Sets New 52-Week Low After Analyst Downgrade

Gartner, Inc. (NYSE:IT) reached a new 52-week low on Friday after StockNews.com downgraded the stock from a buy rating to a hold rating. The stock traded as low as $409.50 and last traded at $416.01, with a volume of 186143 shares trading hands. The stock had previously closed at $418.77.

IT has been the subject of a number of other reports. Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. Morgan Stanley decreased their price target 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. The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. Robert W. Baird lowered their target price on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Wells Fargo & Company cut their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $546.63.

Insider Transactions at Gartner

In other news, SVP John J. Rinello sold 90 shares of the 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 completion of the transaction, the senior vice president now owns 3,259 shares in the company, valued at approximately $1,728,932.09. This represents a 2.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eileen Serra sold 1,200 shares of Gartner stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the sale, the director now owns 1,627 shares in the company, valued at approximately $796,855.79. This trade represents 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 insiders.

Institutional Trading of Gartner

A number of large investors have recently bought and sold shares of the stock. 111 Capital acquired a new stake in shares of Gartner in the 4th quarter valued at $782,000. Siemens Fonds Invest GmbH lifted its holdings 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 purchasing an additional 33 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Gartner in the fourth quarter valued at about $30,425,000. Jefferies Financial Group Inc. grew its stake in Gartner by 982.9% during the fourth quarter. Jefferies Financial Group Inc. now owns 10,851 shares of the information technology services provider’s stock worth $5,257,000 after buying an additional 9,849 shares during the last quarter. Finally, Ascent Group LLC increased its holdings in shares of Gartner by 4.7% during the fourth quarter. Ascent Group LLC now owns 929 shares of the information technology services provider’s stock worth $450,000 after buying an additional 42 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Gartner Stock Up 2.7 %

The company has a market cap of $33.03 billion, a P/E ratio of 26.83, a PEG 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. The business’s 50 day moving average price is $502.37 and its 200-day moving average price is $507.84.

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

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.