The Goldman Sachs Group Issues Pessimistic Forecast for Gartner (NYSE:IT) Stock Price

Gartner (NYSE:ITFree Report) had its target price cut by The Goldman Sachs Group from $622.00 to $535.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.

Several other research firms also recently issued reports on IT. Barclays reduced their price target on shares of Gartner from $510.00 to $475.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Wells Fargo & Company lowered their target price on shares of Gartner from $401.00 to $400.00 and set an “underweight” rating on the stock in a report on Thursday, May 1st. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Robert W. Baird dropped their target price on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Finally, Morgan Stanley decreased their price target on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $518.67.

Read Our Latest Analysis on Gartner

Gartner Stock Performance

NYSE:IT opened at $432.12 on Wednesday. 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 twelve month low of $366.05 and a twelve month high of $584.01. The company has a fifty day moving average of $423.97 and a 200-day moving average of $482.39. The firm has a market capitalization of $33.19 billion, a P/E ratio of 26.96, a P/E/G ratio of 3.30 and a beta of 1.24.

Gartner (NYSE:ITGet Free Report) last issued its earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.72 by $0.26. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.93 EPS. As a group, sell-side analysts anticipate that Gartner will post 12.5 EPS for the current year.

Insider Buying and Selling at Gartner

In other news, Director Eileen Serra sold 1,200 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $489.77, for a total value 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 trade represents a 42.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John J. Rinello sold 90 shares of Gartner 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 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 disclosure for this sale can be found here. Insiders have sold a total of 2,138 shares of company stock worth $1,005,606 over the last ninety days. 3.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its holdings in shares of Gartner by 5.5% in 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 in the last quarter. Barclays PLC increased its holdings in Gartner by 8.6% during the 3rd quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock worth $84,520,000 after acquiring an additional 13,205 shares during the period. JPMorgan Chase & Co. lifted its stake in Gartner by 7.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock worth $525,272,000 after purchasing an additional 70,236 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Gartner by 5.1% in the 4th quarter. Nordea Investment Management AB now owns 6,848 shares of the information technology services provider’s stock valued at $3,334,000 after purchasing an additional 333 shares during the period. Finally, Diversified Trust Co grew its position in shares of Gartner by 10.6% during the 4th quarter. Diversified Trust Co now owns 438 shares of the information technology services provider’s stock valued at $212,000 after purchasing an additional 42 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Gartner Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Gartner (NYSE:IT)

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