Gartner (NYSE:IT) Price Target Cut to $401.00 by Analysts at Wells Fargo & Company

Gartner (NYSE:IT) had its target price lowered by equities researchers at Wells Fargo & Company from $488.00 to $401.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the information technology services provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 0.06% from the stock’s current price.

Several other brokerages also recently weighed in on IT. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. Morgan Stanley lowered their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Barclays decreased their target price on shares of Gartner from $600.00 to $510.00 and set an “overweight” rating for the company in a research note on Friday, April 4th. Finally, UBS Group lowered their price target on shares of Gartner from $565.00 to $500.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. One investment 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. According to MarketBeat.com, Gartner currently has an average rating of “Hold” and an average target price of $518.00.

Gartner Stock Performance

Shares of NYSE:IT traded up $23.26 during trading on Wednesday, hitting $400.76. The stock had a trading volume of 1,103,505 shares, compared to its average volume of 444,583. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. Gartner has a 12-month low of $366.05 and a 12-month high of $584.01. The stock has a market capitalization of $30.79 billion, a price-to-earnings ratio of 25.00, a price-to-earnings-growth ratio of 3.30 and a beta of 1.26. The stock has a 50-day simple moving average of $473.02 and a two-hundred day simple moving average of $499.35.

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

Insider Transactions at Gartner

In related news, Director Eileen Serra sold 1,200 shares of the business’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 transaction of $587,724.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were 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 in the company, 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. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its stake in Gartner by 5.5% during the third quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock worth $1,014,099,000 after buying an additional 103,814 shares during the last quarter. IHT Wealth Management LLC acquired a new stake in Gartner during the third quarter worth about $218,000. EP Wealth Advisors LLC purchased a new position in Gartner during the third quarter worth about $528,000. Nomura Asset Management Co. Ltd. boosted its holdings in Gartner by 9.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 41,256 shares of the information technology services provider’s stock valued at $20,907,000 after purchasing an additional 3,595 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Gartner by 8.6% in the 3rd quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock valued at $84,520,000 after buying an additional 13,205 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

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.