Robert W. Baird Lowers Gartner (NYSE:IT) Price Target to $517.00

Gartner (NYSE:IT) had its price target decreased by Robert W. Baird from $536.00 to $517.00 in a report released on Wednesday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the information technology services provider’s stock.

Several other analysts have also recently commented on IT. BMO Capital Markets upped their target price on shares of Gartner from $444.00 to $450.00 and gave the company a market perform rating in a research report on Thursday, February 8th. UBS Group raised Gartner from a neutral rating to a buy rating and increased their target price for the company from $484.00 to $550.00 in a research note on Thursday, April 11th. Deutsche Bank Aktiengesellschaft started 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. StockNews.com downgraded shares of Gartner from a buy rating to a hold rating in a research report on Saturday, February 10th. Finally, Morgan Stanley boosted their price objective on shares of Gartner from $421.00 to $446.00 and gave the company an equal weight rating in a report on Tuesday, February 6th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $474.50.

Gartner Stock Performance

NYSE IT opened at $428.64 on Wednesday. The firm has a market cap of $33.42 billion, a price-to-earnings ratio of 42.65, a PEG ratio of 3.36 and a beta of 1.32. The company has a 50 day moving average of $462.52 and a 200-day moving average of $440.89. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.42. Gartner has a 1-year low of $295.43 and a 1-year high of $486.54.

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

Insider Buying and Selling

In related news, EVP Claire Herkes sold 1,460 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $475.76, for a total transaction of $694,609.60. Following the sale, the executive vice president now owns 2,842 shares in the company, valued at $1,352,109.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Gartner news, EVP Claire Herkes sold 1,460 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $475.76, for a total value of $694,609.60. Following the sale, the executive vice president now owns 2,842 shares in the company, valued at $1,352,109.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Valentin Sribar sold 682 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $5,557,857. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,952 shares of company stock worth $10,598,070. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Gartner

Large investors have recently made changes to their positions in the company. BKM Wealth Management LLC bought a new position in shares of Gartner during the fourth quarter worth approximately $26,000. Frazier Financial Advisors LLC bought a new position in shares of Gartner during the fourth quarter worth approximately $27,000. MCF Advisors LLC bought a new position in shares of Gartner during the fourth quarter worth approximately $27,000. AdvisorNet Financial Inc grew its position in Gartner by 59.5% during the fourth quarter. AdvisorNet Financial Inc now owns 67 shares of the information technology services provider’s stock worth $30,000 after buying an additional 25 shares in the last quarter. Finally, DSM Capital Partners LLC acquired a new stake in Gartner during the fourth quarter worth approximately $32,000. Institutional investors own 91.51% of the company’s stock.

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.