Gartner (NYSE:IT) Downgraded by StockNews.com

Gartner (NYSE:IT) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

IT has been the topic of several other reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Gartner in a report on Tuesday, April 16th. They set a “hold” rating and a $507.00 price objective on the stock. UBS Group decreased their price target on shares of Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Robert W. Baird cut their price objective on Gartner from $536.00 to $517.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Finally, BMO Capital Markets decreased their target price on Gartner from $450.00 to $432.00 and set a “market perform” rating on the stock in a research report on Thursday, May 2nd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $474.50.

Gartner Price Performance

NYSE:IT opened at $450.48 on Friday. The stock has a market capitalization of $34.97 billion, a PE ratio of 44.82, a price-to-earnings-growth ratio of 3.91 and a beta of 1.32. Gartner has a 52 week low of $323.61 and a 52 week high of $486.54. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.42. The stock’s 50-day moving average price is $439.74 and its 200-day moving average price is $452.09.

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

Insider Buying and Selling at Gartner

In related news, Director James C. Smith sold 10,000 shares of Gartner stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $455.20, for a total transaction of $4,552,000.00. Following the transaction, the director now owns 608,369 shares in the company, valued at $276,929,568.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Gartner news, EVP Yvonne Genovese sold 439 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $456.13, for a total value of $200,241.07. Following the transaction, the executive vice president now directly owns 1,959 shares in the company, valued at approximately $893,558.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James C. Smith sold 10,000 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $455.20, for a total transaction of $4,552,000.00. Following the completion of the sale, the director now directly owns 608,369 shares of the company’s stock, valued at approximately $276,929,568.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,544 shares of company stock worth $10,079,813. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. BKM Wealth Management LLC purchased a new stake in shares of Gartner in the 4th quarter valued at approximately $26,000. Frazier Financial Advisors LLC acquired a new position in Gartner during the fourth quarter worth $27,000. MCF Advisors LLC acquired a new position in Gartner during the fourth quarter worth $27,000. AdvisorNet Financial Inc boosted its position in shares of 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 during the period. Finally, DSM Capital Partners LLC acquired a new stake in shares of Gartner in the fourth quarter valued at $32,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

About Gartner

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.