StockNews.com Lowers Gartner (NYSE:IT) to Hold

StockNews.com lowered shares of Gartner (NYSE:ITFree Report) from a buy rating to a hold rating in a research note published on Saturday.

A number of other analysts also recently issued reports on IT. UBS Group raised their price target on shares of Gartner from $412.00 to $490.00 and gave the company a neutral rating in a report on Tuesday, February 6th. BMO Capital Markets increased their price objective on shares of Gartner from $444.00 to $450.00 and gave the stock a market perform rating in a research note on Thursday, February 8th. Morgan Stanley increased their price objective on shares of Gartner from $421.00 to $446.00 and gave the stock an equal weight rating in a research note on Tuesday, February 6th. Finally, Wells Fargo & Company increased their price objective on shares of Gartner from $380.00 to $435.00 and gave the stock an overweight rating in a research note on Friday, December 15th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and a consensus target price of $455.25.

View Our Latest Report on Gartner

Gartner Stock Performance

Shares of IT stock opened at $450.97 on Friday. Gartner has a one year low of $292.60 and a one year high of $471.76. The company’s 50-day moving average is $451.97 and its 200 day moving average is $394.35. The company has a market capitalization of $35.15 billion, a price-to-earnings ratio of 40.77, a price-to-earnings-growth ratio of 4.21 and a beta of 1.30. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.86 and a current ratio of 0.86.

Gartner (NYSE:ITGet Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The information technology services provider reported $3.04 EPS for the quarter, beating the consensus estimate of $2.83 by $0.21. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. Gartner had a net margin of 14.94% and a return on equity of 166.35%. Gartner’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.70 EPS. Sell-side analysts expect that Gartner will post 11.42 EPS for the current fiscal year.

Gartner announced that its board has approved a share repurchase program on Friday, November 3rd that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the information technology services provider to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Robin B. Kranich sold 1,444 shares of Gartner stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $455.29, for a total transaction of $657,438.76. Following the sale, the executive vice president now owns 13,244 shares in the company, valued at $6,029,860.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Craig Safian sold 4,387 shares of Gartner stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $467.37, for a total transaction of $2,050,352.19. Following the sale, the chief financial officer now owns 64,307 shares in the company, valued at $30,055,162.59. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Robin B. Kranich sold 1,444 shares of the firm’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $455.29, for a total transaction of $657,438.76. Following the completion of the transaction, the executive vice president now directly owns 13,244 shares of the company’s stock, valued at $6,029,860.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,369 shares of company stock worth $6,324,321. Company insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of IT. US Bancorp DE grew its holdings in shares of Gartner by 6.0% in the first quarter. US Bancorp DE now owns 2,563 shares of the information technology services provider’s stock valued at $762,000 after purchasing an additional 144 shares in the last quarter. Aviva PLC grew its holdings in shares of Gartner by 53.3% in the first quarter. Aviva PLC now owns 42,028 shares of the information technology services provider’s stock valued at $12,502,000 after purchasing an additional 14,618 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Gartner by 9.5% in the first quarter. Canada Pension Plan Investment Board now owns 27,043 shares of the information technology services provider’s stock valued at $8,044,000 after purchasing an additional 2,347 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Gartner by 25.2% in the first quarter. Allianz Asset Management GmbH now owns 98,889 shares of the information technology services provider’s stock valued at $29,415,000 after purchasing an additional 19,892 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Gartner by 1.1% in the first quarter. Vanguard Group Inc. now owns 9,198,161 shares of the information technology services provider’s stock valued at $2,736,085,000 after purchasing an additional 102,709 shares in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

Gartner Company Profile

(Get Free Report)

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.

Featured Stories

Receive News & Ratings for Gartner Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gartner and related companies with MarketBeat.com's FREE daily email newsletter.