Gartner (NYSE:IT) Price Target Cut to $510.00 by Analysts at UBS Group

Gartner (NYSE:IT) had its price target decreased by UBS Group from $550.00 to $510.00 in a report published on Wednesday, Benzinga reports. UBS Group currently has a buy rating on the information technology services provider’s stock.

IT has been the subject of several other research reports. Robert W. Baird decreased their price target on shares of Gartner from $536.00 to $517.00 and set an outperform rating for the company in a research note on Wednesday. StockNews.com lowered shares of Gartner from a buy rating to a hold rating in a research note on Saturday, February 10th. BMO Capital Markets lifted their price objective on shares of Gartner from $444.00 to $450.00 and gave the company a market perform rating in a research note on Thursday, February 8th. Morgan Stanley lifted their price objective on shares of Gartner from $421.00 to $446.00 and gave the company an equal weight rating in a research note on Tuesday, February 6th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Gartner in a research note on Tuesday, April 16th. They issued a hold rating and a $507.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $477.50.

Gartner Trading Up 2.4 %

Shares of IT stock opened at $422.39 on Wednesday. The company has a 50 day moving average of $463.85 and a 200-day moving average of $439.90. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.60. Gartner has a 12-month low of $295.43 and a 12-month high of $486.54. The firm has a market cap of $32.93 billion, a P/E ratio of 38.19, a PEG ratio of 4.12 and a beta of 1.29.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.40. Gartner had a net margin of 14.94% and a return on equity of 156.35%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter last year, the business posted $2.88 EPS. Gartner’s quarterly revenue was up 4.5% compared to the same quarter last year. Sell-side analysts anticipate that Gartner will post 11.29 earnings per share for the current year.

Insider Activity

In other news, EVP Claire Herkes sold 1,460 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $475.76, for a total transaction of $694,609.60. Following the completion of the transaction, the executive vice president now directly owns 2,842 shares in the company, valued at approximately $1,352,109.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Claire Herkes sold 1,460 shares of Gartner stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $475.76, for a total transaction of $694,609.60. Following the completion of the sale, the executive vice president now directly owns 2,842 shares of the company’s stock, valued at approximately $1,352,109.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James C. Smith sold 5,000 shares of Gartner stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $470.09, for a total transaction of $2,350,450.00. Following the sale, the director now directly owns 618,235 shares of the company’s stock, valued at $290,626,091.15. The disclosure for this sale can be found here. Insiders sold 22,952 shares of company stock worth $10,598,070 in the last three months. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of Gartner

Several hedge funds have recently added to or reduced their stakes in IT. OFI Invest Asset Management bought a new position in Gartner in the third quarter worth about $25,000. BKM Wealth Management LLC bought a new position in shares of Gartner during the fourth quarter valued at approximately $26,000. MCF Advisors LLC bought a new position in shares of Gartner during the fourth quarter valued at approximately $27,000. Frazier Financial Advisors LLC bought a new position in shares of Gartner during the fourth quarter valued at approximately $27,000. Finally, VisionPoint Advisory Group LLC increased its stake in shares of Gartner by 254.2% during the third quarter. VisionPoint Advisory Group LLC now owns 85 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 61 shares in the last quarter. 91.51% of the stock is owned by 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.