Gartner (NYSE:IT) Sets New 52-Week Low After Analyst Downgrade

Gartner, Inc. (NYSE:IT)’s stock price hit a new 52-week low during trading on Monday after Barclays lowered their price target on the stock from $600.00 to $510.00. Barclays currently has an overweight rating on the stock. Gartner traded as low as $366.05 and last traded at $377.84, with a volume of 229952 shares traded. The stock had previously closed at $383.24.

A number of other analysts also recently commented on the company. UBS Group decreased their target price on Gartner from $565.00 to $500.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. Robert W. Baird decreased their price objective on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Morgan Stanley dropped their target price on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Finally, Wells Fargo & Company dropped 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 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $525.38.

Insider Transactions at Gartner

In other Gartner news, 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 transaction of $587,724.00. Following the completion of the sale, the director now directly owns 1,627 shares in the company, valued at $796,855.79. This represents a 42.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 sale, the senior vice president now owns 3,259 shares of the company’s stock, valued at $1,728,932.09. The trade was a 2.69 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Gartner

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc increased its holdings in 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 purchasing an additional 206 shares in the last quarter. First Hawaiian Bank grew its stake in shares of 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 buying an additional 413 shares in the last quarter. 111 Capital purchased a new stake in shares of Gartner during the 4th quarter valued at about $782,000. Siemens Fonds Invest GmbH lifted its position in Gartner by 4.0% during the 4th quarter. Siemens Fonds Invest GmbH now owns 854 shares of the information technology services provider’s stock worth $415,000 after acquiring an additional 33 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Gartner in the 4th quarter worth approximately $30,425,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Price Performance

The company has a market cap of $29.12 billion, a price-to-earnings ratio of 23.57, a P/E/G ratio of 3.30 and a beta of 1.26. The company’s 50-day simple moving average is $482.71 and its 200-day simple moving average is $502.12. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06.

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

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.