Gartner (NYSE:IT) Price Target Cut to $390.00 by Analysts at The Goldman Sachs Group

Gartner (NYSE:IT) had its price objective decreased by analysts at The Goldman Sachs Group from $457.00 to $390.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the information technology services provider’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 65.18% from the stock’s previous close.

A number of other analysts have also recently weighed in on IT. Barclays set a $260.00 price objective on shares of Gartner and gave the stock an “equal weight” rating in a research note on Wednesday. Morgan Stanley set a $307.00 price target on shares of Gartner in a report on Monday, October 13th. BMO Capital Markets reiterated a “market perform” rating and issued a $254.00 price objective on shares of Gartner in a research note on Wednesday. Wolfe Research assumed coverage on Gartner in a research report on Wednesday, September 3rd. They set a “peer perform” rating for the company. Finally, William Blair restated an “outperform” rating on shares of Gartner in a research note on Tuesday, October 21st. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $336.00.

Gartner Stock Up 3.9%

NYSE:IT traded up $8.94 on Wednesday, hitting $236.11. 498,956 shares of the company’s stock traded hands, compared to its average volume of 956,754. The firm has a 50-day moving average price of $249.19 and a 200-day moving average price of $331.50. Gartner has a 1 year low of $223.23 and a 1 year high of $584.01. The company has a market cap of $17.88 billion, a PE ratio of 14.45 and a beta of 1.19. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.61.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, November 4th. The information technology services provider reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.35. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Gartner had a net margin of 19.71% and a return on equity of 82.63%. Gartner has set its FY 2025 guidance at 12.650- EPS. Equities analysts anticipate that Gartner will post 12.5 EPS for the current fiscal year.

Insider Buying and Selling at Gartner

In other Gartner news, SVP John J. Rinello sold 105 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $249.71, for a total transaction of $26,219.55. Following the completion of the transaction, the senior vice president directly owned 3,225 shares in the company, valued at $805,314.75. This represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jose M. Gutierrez purchased 417 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was acquired at an average cost of $239.80 per share, with a total value of $99,996.60. Following the completion of the acquisition, the director directly owned 2,080 shares of the company’s stock, valued at $498,784. The trade was a 25.08% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 3.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Brighton Jones LLC bought a new position in shares of Gartner during the 4th quarter valued at about $309,000. Mutual Advisors LLC raised its stake in shares of Gartner by 13.8% during the 1st quarter. Mutual Advisors LLC now owns 601 shares of the information technology services provider’s stock worth $250,000 after purchasing an additional 73 shares in the last quarter. OneDigital Investment Advisors LLC raised its stake in shares of Gartner by 37.4% during the 1st quarter. OneDigital Investment Advisors LLC now owns 2,056 shares of the information technology services provider’s stock worth $863,000 after purchasing an additional 560 shares in the last quarter. TD Private Client Wealth LLC raised its stake in shares of Gartner by 1.3% during the 1st quarter. TD Private Client Wealth LLC now owns 2,942 shares of the information technology services provider’s stock worth $1,235,000 after purchasing an additional 37 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC raised its stake in shares of Gartner by 1.0% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 7,603 shares of the information technology services provider’s stock worth $3,191,000 after purchasing an additional 75 shares in the last quarter. 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.