Gartner (NYSE:IT) Trading Down 6.5%

Gartner, Inc. (NYSE:IT)’s stock price dropped 6.5% during trading on Tuesday . The company traded as low as $414.17 and last traded at $419.68. Approximately 269,624 shares were traded during mid-day trading, a decline of 30% from the average daily volume of 387,302 shares. The stock had previously closed at $448.65.

Wall Street Analyst Weigh In

IT has been the topic of a number of research reports. Morgan Stanley increased their price objective on Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. UBS Group raised Gartner from a “neutral” rating to a “buy” rating and upped their target price for the stock from $484.00 to $550.00 in a research report on Thursday, April 11th. BMO Capital Markets upped their target price on Gartner from $444.00 to $450.00 and gave the stock a “market perform” rating in a research report on Thursday, February 8th. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Gartner in a research report on Tuesday, April 16th. They set a “hold” rating and a $507.00 target price for the company. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Gartner currently has a consensus rating of “Hold” and a consensus price target of $477.60.

Gartner Stock Performance

The stock has a market capitalization of $32.82 billion, a P/E ratio of 38.08, a PEG ratio of 4.12 and a beta of 1.29. The firm has a 50-day moving average of $464.87 and a 200 day moving average of $439.64. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.60.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 EPS for the quarter, topping the consensus estimate of $2.53 by $0.40. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Gartner had a return on equity of 156.35% and a net margin of 14.94%. Gartner’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business earned $2.88 earnings per share. Research analysts anticipate that Gartner, Inc. will post 11.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other Gartner news, EVP Valentin Sribar sold 682 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $453.00, for a total transaction of $308,946.00. Following the completion of the transaction, the executive vice president now directly owns 12,269 shares in the company, valued at $5,557,857. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director James C. Smith sold 5,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $455.00, for a total value of $2,275,000.00. Following the completion of the sale, the director now directly owns 638,235 shares in the company, valued at $290,396,925. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Valentin Sribar sold 682 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $453.00, for a total value of $308,946.00. Following the completion of the sale, the executive vice president now owns 12,269 shares of the company’s stock, valued at $5,557,857. The disclosure for this sale can be found here. Insiders sold 22,952 shares of company stock worth $10,598,070 over the last three months. 3.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Gartner

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Morgan Stanley raised its position in Gartner by 4.6% in the 3rd quarter. Morgan Stanley now owns 2,157,075 shares of the information technology services provider’s stock valued at $741,193,000 after buying an additional 95,040 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Gartner by 12.0% during the 4th quarter. Wellington Management Group LLP now owns 1,852,820 shares of the information technology services provider’s stock worth $835,826,000 after purchasing an additional 198,274 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Gartner by 30.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,565,046 shares of the information technology services provider’s stock worth $537,766,000 after purchasing an additional 364,128 shares during the last quarter. Brown Advisory Inc. increased its position in shares of Gartner by 4.6% during the 4th quarter. Brown Advisory Inc. now owns 1,208,914 shares of the information technology services provider’s stock worth $545,353,000 after purchasing an additional 52,826 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Gartner by 18.5% during the 4th quarter. Franklin Resources Inc. now owns 920,716 shares of the information technology services provider’s stock worth $415,344,000 after purchasing an additional 143,556 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

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.