Gartner (NYSE:IT) Price Target Lowered to $480.00 at UBS Group

Gartner (NYSE:IT) had its price objective reduced by UBS Group from $500.00 to $480.00 in a research note issued to investors on Tuesday morning,Benzinga reports. UBS Group currently has a buy rating on the information technology services provider’s stock.

Other analysts have also issued research reports about the company. Wells Fargo & Company cut their price objective on Gartner from $401.00 to $400.00 and set an “underweight” rating for the company in a report on Thursday, May 1st. Robert W. Baird cut their price objective on Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Barclays cut their price objective on Gartner from $510.00 to $475.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Wall Street Zen lowered Gartner from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Finally, The Goldman Sachs Group cut their price target on Gartner from $622.00 to $535.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $513.67.

Gartner Stock Down 3.7%

Gartner stock opened at $359.64 on Tuesday. The firm has a market cap of $27.68 billion, a price-to-earnings ratio of 22.38, a PEG ratio of 2.42 and a beta of 1.19. The stock has a fifty day simple moving average of $417.38 and a two-hundred day simple moving average of $449.98. Gartner has a 12 month low of $358.50 and a 12 month high of $584.01. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.64.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, topping the consensus estimate of $2.72 by $0.26. Gartner had a return on equity of 96.70% and a net margin of 19.82%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the company posted $2.93 earnings per share. Gartner’s revenue was up 4.2% compared to the same quarter last year. Equities analysts predict that Gartner will post 12.5 EPS for the current fiscal year.

Insider Buying and Selling at Gartner

In other news, EVP Akhil Jain sold 625 shares of the business’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $450.00, for a total value of $281,250.00. Following the transaction, the executive vice president directly owned 6,548 shares in the company, valued at $2,946,600. The trade was a 8.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Craig Safian sold 3,415 shares of the business’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $450.17, for a total value of $1,537,330.55. Following the completion of the transaction, the chief financial officer owned 77,890 shares in the company, valued at $35,063,741.30. The trade was a 4.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,426 shares of company stock valued at $2,430,327 in the last ninety days. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Gartner

Several large investors have recently made changes to their positions in IT. Sompo Asset Management Co. Ltd. lifted its position in shares of Gartner by 1.7% in the fourth quarter. Sompo Asset Management Co. Ltd. now owns 1,210 shares of the information technology services provider’s stock worth $586,000 after buying an additional 20 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Gartner by 2.9% in the fourth quarter. Parallel Advisors LLC now owns 737 shares of the information technology services provider’s stock worth $357,000 after buying an additional 21 shares in the last quarter. Cornerstone Advisory LLC lifted its position in shares of Gartner by 0.8% in the fourth quarter. Cornerstone Advisory LLC now owns 2,803 shares of the information technology services provider’s stock worth $1,443,000 after buying an additional 21 shares in the last quarter. TD Waterhouse Canada Inc. lifted its position in shares of Gartner by 3.1% in the fourth quarter. TD Waterhouse Canada Inc. now owns 758 shares of the information technology services provider’s stock worth $367,000 after buying an additional 23 shares in the last quarter. Finally, Connecticut Wealth Management LLC lifted its position in shares of Gartner by 0.6% in the fourth quarter. Connecticut Wealth Management LLC now owns 4,604 shares of the information technology services provider’s stock worth $2,230,000 after buying an additional 26 shares in the last quarter. 91.51% of the stock is currently 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.