Gartner (NYSE:IT) Price Target Lowered to $510.00 at UBS Group

Gartner (NYSE:IT) had its target price cut by UBS Group from $550.00 to $510.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.

A number of other research firms also recently commented on IT. StockNews.com downgraded shares of Gartner from a buy rating to a hold rating in a research report on Saturday, February 10th. Deutsche Bank Aktiengesellschaft assumed coverage on Gartner in a report on Tuesday, April 16th. They set a hold rating and a $507.00 price objective on the stock. BMO Capital Markets boosted their target price on Gartner from $444.00 to $450.00 and gave the company a market perform rating in a report on Thursday, February 8th. Robert W. Baird dropped their price target on Gartner from $536.00 to $517.00 and set an outperform rating on the stock in a research note on Wednesday. Finally, Morgan Stanley upped their price target on shares of Gartner from $421.00 to $446.00 and gave the company an equal weight rating in a research report on Tuesday, February 6th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $474.50.

Gartner Stock Performance

Shares of IT opened at $428.64 on Wednesday. The stock has a 50-day simple moving average of $462.52 and a 200-day simple moving average of $440.27. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $33.42 billion, a PE ratio of 42.65, a PEG ratio of 3.36 and a beta of 1.32. Gartner has a 1 year low of $295.43 and a 1 year high of $486.54.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.40. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Gartner had a net margin of 13.35% and a return on equity of 141.55%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.88 earnings per share. On average, analysts predict that Gartner will post 11.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Gartner

In related news, EVP Valentin Sribar sold 682 shares of Gartner 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 transaction, the executive vice president now directly owns 12,269 shares in the company, valued at approximately $5,557,857. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Akhil Jain sold 250 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $464.55, for a total transaction of $116,137.50. Following the transaction, the executive vice president now owns 5,239 shares of the company’s stock, valued at $2,433,777.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 directly owns 12,269 shares of the company’s stock, valued at approximately $5,557,857. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,952 shares of company stock worth $10,598,070. 3.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Gartner

Institutional investors and hedge funds have recently made changes to their positions in the stock. OFI Invest Asset Management purchased a new stake in shares of Gartner during the 3rd quarter worth approximately $25,000. BKM Wealth Management LLC acquired a new position in Gartner during the fourth quarter worth $26,000. MCF Advisors LLC purchased a new stake in Gartner during the fourth quarter worth $27,000. Frazier Financial Advisors LLC acquired a new stake in Gartner in the fourth quarter valued at $27,000. Finally, VisionPoint Advisory Group LLC increased its position in shares of Gartner by 254.2% in the third quarter. VisionPoint Advisory Group LLC now owns 85 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 61 shares in the last quarter. 91.51% of the stock is 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.