Wells Fargo & Company Cuts Gartner (NYSE:IT) Price Target to $460.00

Gartner (NYSE:IT) had its price target cut by Wells Fargo & Company from $470.00 to $460.00 in a research note published on Friday,Benzinga reports. They currently have an underweight rating on the information technology services provider’s stock.

Other equities analysts have also issued research reports about the company. Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $525.00 to $600.00 in a research note on Friday. Deutsche Bank Aktiengesellschaft upped their target price on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Robert W. Baird lifted their price target on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, Morgan Stanley lifted their target price on shares of Gartner from $560.00 to $564.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Gartner currently has an average rating of “Hold” and an average target price of $551.88.

Gartner Stock Down 1.3 %

NYSE IT opened at $488.91 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31. Gartner has a 52 week low of $411.15 and a 52 week high of $559.00. The business’s fifty day simple moving average is $509.76 and its 200-day simple moving average is $496.27. The firm has a market cap of $37.71 billion, a PE ratio of 36.06, a P/E/G ratio of 3.18 and a beta of 1.33.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.05. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. Gartner’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.56 EPS. As a group, equities analysts anticipate that Gartner will post 11.87 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Claire Herkes sold 411 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total transaction of $214,229.64. Following the completion of the transaction, the executive vice president now owns 1,494 shares in the company, valued at approximately $778,732.56. The trade was a 21.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James C. Smith sold 17,533 shares of Gartner stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $547.09, for a total value of $9,592,128.97. Following the sale, the director now directly owns 532,294 shares of the company’s stock, valued at $291,212,724.46. This trade represents a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,583 shares of company stock worth $19,241,974 in the last quarter. 3.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Eastern Bank purchased a new stake in shares of Gartner in the third quarter valued at about $26,000. Ashton Thomas Securities LLC purchased a new stake in Gartner during the 3rd quarter valued at approximately $44,000. True Wealth Design LLC lifted its position in Gartner by 2,350.0% during the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after acquiring an additional 94 shares during the period. Fortitude Family Office LLC grew its stake in shares of Gartner by 23.8% in the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after purchasing an additional 20 shares during the last quarter. Finally, Asset Dedication LLC increased its holdings in shares of Gartner by 46.5% in the third quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock valued at $75,000 after purchasing an additional 47 shares during the period. Hedge funds and other 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.