Gartner Inc. (IT) Stock Rating Lowered by Zacks Investment Research
Gartner Inc. (NYSE:IT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
According to Zacks, “Gartner, Inc. is a research and advisory firm that helps clients understand technology and drive business growth. Gartner’s divisions consist of Gartner Research, Gartner Consulting, Gartner Measurement and Gartner Events. Gartner has the most comprehensive body of global research that reports on and analyzes the technologies that drive business and organizational success. Gartner Consulting leverages the company’s industry-leading research capabilities to deliver hands-on client support, from strategy to measurable results. “
Several other equities analysts have also recently issued reports on IT. BMO Capital Markets restated a “hold” rating and set a $100.00 price objective on shares of Gartner in a research note on Friday, August 5th. Piper Jaffray Cos. reaffirmed a “neutral” rating and issued a $90.00 target price (down from $93.00) on shares of Gartner in a research report on Monday, August 8th. Morgan Stanley set a $101.00 target price on Gartner and gave the stock a “hold” rating in a research report on Friday, August 5th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Gartner in a research report on Friday, August 19th. Finally, Macquarie initiated coverage on Gartner in a research report on Thursday, August 25th. They issued an “outperform” rating and a $108.00 target price on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $99.08.
Gartner (NYSE:IT) opened at 88.21 on Wednesday. The firm has a market capitalization of $7.29 billion, a PE ratio of 40.22 and a beta of 1.03. The stock has a 50 day moving average of $89.97 and a 200-day moving average of $93.83. Gartner has a one year low of $77.80 and a one year high of $103.00.
Gartner (NYSE:IT) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by $0.02. Gartner had a negative return on equity of 197.12% and a net margin of 7.97%. The firm had revenue of $610 million for the quarter, compared to the consensus estimate of $596.78 million. During the same quarter last year, the business earned $0.65 earnings per share. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities analysts predict that Gartner will post $2.81 EPS for the current year.
In related news, Director Karen E. Dykstra sold 3,086 shares of the firm’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $90.98, for a total transaction of $280,764.28. Following the completion of the transaction, the director now owns 18,763 shares of the company’s stock, valued at $1,707,057.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP David Godfrey sold 10,198 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $94.10, for a total value of $959,631.80. Following the transaction, the senior vice president now directly owns 29,570 shares of the company’s stock, valued at approximately $2,782,537. The disclosure for this sale can be found here. Corporate insiders own 4.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in IT. GW&K Investment Management LLC boosted its position in shares of Gartner by 16.5% in the second quarter. GW&K Investment Management LLC now owns 179,337 shares of the company’s stock valued at $17,469,000 after buying an additional 25,412 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Gartner by 4.1% in the first quarter. Geode Capital Management LLC now owns 541,791 shares of the company’s stock valued at $48,382,000 after buying an additional 21,134 shares in the last quarter. Aristotle Capital Boston LLC boosted its position in shares of Gartner by 1.8% in the first quarter. Aristotle Capital Boston LLC now owns 38,249 shares of the company’s stock valued at $3,418,000 after buying an additional 673 shares in the last quarter. AXA purchased a new position in shares of Gartner during the first quarter valued at $554,000. Finally, Genesee Valley Trust Co. boosted its position in shares of Gartner by 2.2% in the second quarter. Genesee Valley Trust Co. now owns 11,752 shares of the company’s stock valued at $1,145,000 after buying an additional 250 shares in the last quarter. 90.45% of the stock is owned by institutional investors and hedge funds.
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