Gartner (NYSE:IT) Sets New 1-Year Low – Here’s Why

Gartner, Inc. (NYSE:IT)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $409.00 and last traded at $413.19, with a volume of 1236924 shares traded. The stock had previously closed at $419.74.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Barclays upgraded shares of 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 reduced their price objective on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. The Goldman Sachs Group restated a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. Wells Fargo & Company cut their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a report on Friday, January 10th. Finally, Morgan Stanley decreased their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Gartner currently has a consensus rating of “Hold” and a consensus price target of $536.63.

Gartner Price Performance

The company has a market capitalization of $31.74 billion, a PE ratio of 25.78, a PEG ratio of 3.30 and a beta of 1.29. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The company’s 50 day moving average price is $492.25 and its 200-day moving average price is $505.01.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $2.23. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.69 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.04 earnings per share. On average, sell-side analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Gartner news, Director Eileen Serra sold 1,200 shares of the firm’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 transaction, the director now directly owns 1,627 shares of the company’s stock, valued at $796,855.79. This trade represents a 42.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP John J. Rinello sold 90 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $530.51, for a total value of $47,745.90. Following the transaction, the senior vice president now owns 3,259 shares in the company, valued at approximately $1,728,932.09. This represents a 2.69 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of Gartner

Hedge funds have recently made changes to their positions in the company. Czech National Bank grew its holdings in Gartner by 6.5% during the 4th quarter. Czech National Bank now owns 16,725 shares of the information technology services provider’s stock valued at $8,103,000 after purchasing an additional 1,028 shares in the last quarter. Entropy Technologies LP purchased a new position in Gartner in the 4th quarter valued at about $366,000. D.A. Davidson & CO. grew its stake in shares of Gartner by 2.6% during the fourth quarter. D.A. Davidson & CO. now owns 1,137 shares of the information technology services provider’s stock valued at $551,000 after acquiring an additional 29 shares in the last quarter. Conestoga Capital Advisors LLC increased its position in shares of Gartner by 1.5% during the fourth quarter. Conestoga Capital Advisors LLC now owns 31,626 shares of the information technology services provider’s stock worth $15,322,000 after acquiring an additional 480 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Gartner by 8.6% in the third quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock worth $84,520,000 after acquiring an additional 13,205 shares in the last quarter. 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.