Gartner (NYSE:IT) Price Target Cut to $475.00 by Analysts at Barclays

Gartner (NYSE:IT) had its price objective dropped by investment analysts at Barclays from $510.00 to $475.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the information technology services provider’s stock. Barclays‘s target price would suggest a potential upside of 20.61% from the company’s current price.

A number of other analysts have also issued reports on the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Morgan Stanley lowered their price target on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Wells Fargo & Company cut their price objective on shares of Gartner from $488.00 to $401.00 and set an “underweight” rating for the company in a report on Wednesday, April 9th. Finally, UBS Group dropped their price target on Gartner from $565.00 to $500.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $513.63.

Gartner Price Performance

IT stock traded down $7.82 during mid-day trading on Monday, reaching $393.83. 53,211 shares of the company’s stock were exchanged, compared to its average volume of 448,372. The company has a market cap of $30.25 billion, a price-to-earnings ratio of 24.57, a price-to-earnings-growth ratio of 3.30 and a beta of 1.26. Gartner has a 12-month low of $366.05 and a 12-month high of $584.01. The stock’s 50 day moving average is $448.64 and its 200 day moving average is $492.60. 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 posted its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $2.23. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. During the same period last year, the firm posted $3.04 earnings per share. The company’s revenue was up 8.1% compared to the same quarter last year. On average, research analysts expect that Gartner will post 12.5 EPS for the current year.

Insider Activity

In other news, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Eileen Serra sold 1,200 shares of the firm’s 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 completion of the transaction, the director now directly owns 1,627 shares of the company’s stock, valued at $796,855.79. This represents a 42.45 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Cary Street Partners Financial LLC purchased a new stake in shares of Gartner in the 4th quarter valued at about $27,000. Kestra Investment Management LLC acquired a new position in shares of Gartner in the 4th quarter valued at $29,000. Itau Unibanco Holding S.A. increased its stake in Gartner by 453.3% in the fourth quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider’s stock valued at $40,000 after purchasing an additional 68 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Gartner during the fourth quarter worth about $49,000. Finally, Promus Capital LLC acquired a new position in Gartner in the 4th quarter valued at about $57,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

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.