Barclays Has Lowered Expectations for Gartner (NYSE:IT) Stock Price

Gartner (NYSE:IT) had its target price reduced by Barclays from $600.00 to $510.00 in a research report report published on Friday,Benzinga reports. Barclays currently has an overweight rating on the information technology services provider’s stock.

A number of other research firms have also issued reports on IT. Robert W. Baird reduced their target price on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Morgan Stanley decreased their target price on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Wells Fargo & Company cut their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a report on Friday, January 10th. The Goldman Sachs Group reiterated a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. Finally, StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Gartner presently has an average rating of “Hold” and a consensus price target of $525.38.

Gartner Stock Down 5.4 %

NYSE:IT opened at $383.12 on Friday. Gartner has a 52 week low of $382.23 and a 52 week high of $584.01. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The stock’s fifty day moving average is $482.71 and its two-hundred day moving average is $502.19. The stock has a market capitalization of $29.43 billion, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $2.23. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. Gartner’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the business posted $3.04 EPS. Research analysts anticipate that Gartner will post 12.5 EPS for the current year.

Insider Buying and Selling

In other news, 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 completion of the sale, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. The trade was a 2.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eileen Serra sold 1,200 shares of the firm’s stock in a transaction that occurred on 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 owns 1,627 shares in the company, valued at $796,855.79. This represents a 42.45 % decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Gartner

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its holdings in shares of Gartner by 176.1% in the 1st quarter. Versant Capital Management Inc now owns 323 shares of the information technology services provider’s stock valued at $136,000 after acquiring an additional 206 shares during the period. First Hawaiian Bank increased its stake in Gartner by 19.1% in the first quarter. First Hawaiian Bank now owns 2,572 shares of the information technology services provider’s stock valued at $1,080,000 after purchasing an additional 413 shares during the period. 111 Capital purchased a new stake in shares of Gartner in the fourth quarter valued at about $782,000. Siemens Fonds Invest GmbH boosted its stake in shares of Gartner by 4.0% during the fourth quarter. Siemens Fonds Invest GmbH now owns 854 shares of the information technology services provider’s stock worth $415,000 after buying an additional 33 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Gartner during the fourth quarter worth about $30,425,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

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.