UBS Group Issues Pessimistic Forecast for Gartner (NYSE:IT) Stock Price

Gartner (NYSE:IT) had its target price cut by UBS Group from $565.00 to $500.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.

Several other research analysts have also issued reports on the stock. Morgan Stanley decreased their price target on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $525.00 to $600.00 in a report on Friday, January 10th. Robert W. Baird dropped their price target on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Finally, Wells Fargo & Company reduced their price objective on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Gartner currently has an average rating of “Hold” and an average price target of $536.63.

Gartner Stock Down 1.9 %

Shares of IT stock opened at $421.46 on Tuesday. Gartner has a 1 year low of $409.50 and a 1 year high of $584.01. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. The business’s fifty day moving average is $499.54 and its 200-day moving average is $507.17. The stock has a market cap of $32.38 billion, a PE ratio of 26.29, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29.

Gartner (NYSE:IT) last released its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $2.23. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period in the previous year, the company earned $3.04 earnings per share. Gartner’s revenue was up 8.1% compared to the same quarter last year. Equities analysts expect that Gartner will post 12.5 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP John J. Rinello sold 90 shares of Gartner stock in a transaction on Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the sale, the senior vice president now owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eileen Serra sold 1,200 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $489.77, for a total value of $587,724.00. Following the completion of the transaction, the director now directly owns 1,627 shares in the company, valued at approximately $796,855.79. The trade was a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Gartner

Several large investors have recently made changes to their positions in the company. Cary Street Partners Financial LLC bought a new stake in Gartner in the fourth quarter worth $27,000. Kestra Investment Management LLC bought a new stake in shares of Gartner during the 4th quarter worth about $29,000. Itau Unibanco Holding S.A. increased its holdings in shares of Gartner by 453.3% during the 4th quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider’s stock valued at $40,000 after acquiring an additional 68 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Gartner in the 4th quarter valued at approximately $49,000. Finally, True Wealth Design LLC raised its stake in shares of Gartner by 2,350.0% in the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock valued at $50,000 after acquiring an additional 94 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.