Gartner, Inc. (NYSE:IT) Given Consensus Recommendation of “Hold” by Brokerages

Gartner, Inc. (NYSE:IT) has been assigned a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $525.38.

Several research analysts recently weighed in on the stock. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Wells Fargo & Company reduced their target price on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a report on Friday, January 10th. Barclays lowered their price target on Gartner from $600.00 to $510.00 and set an “overweight” rating on the stock in a research note on Friday. The Goldman Sachs Group reiterated a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. Finally, Robert W. Baird decreased their price objective on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a report on Friday, March 21st.

Gartner Stock Down 0.3 %

Shares of IT opened at $382.25 on Tuesday. 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 firm has a market cap of $29.36 billion, a P/E ratio of 23.85, a PEG ratio of 3.30 and a beta of 1.26. The stock’s 50 day moving average is $479.61 and its two-hundred day moving average is $501.20. Gartner has a 12 month low of $366.05 and a 12 month high of $584.01.

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

Insiders Place Their Bets

In other news, Director Eileen Serra sold 1,200 shares of Gartner stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the sale, the director now owns 1,627 shares of the company’s stock, valued at approximately $796,855.79. The trade was a 42.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John J. Rinello sold 90 shares of the stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Gartner

Several large investors have recently modified their holdings of IT. Cary Street Partners Financial LLC purchased a new stake in Gartner in the 4th quarter valued at about $27,000. Kestra Investment Management LLC purchased a new stake in shares of Gartner in the 4th quarter valued at approximately $29,000. Itau Unibanco Holding S.A. lifted its holdings in shares of Gartner by 453.3% in the 4th quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider’s stock worth $40,000 after acquiring an additional 68 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Gartner during the 4th quarter worth approximately $49,000. Finally, True Wealth Design LLC increased its holdings in 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 purchasing an additional 94 shares during the last quarter. Institutional investors and hedge funds 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.