The Goldman Sachs Group Cuts Gartner (NYSE:IT) Price Target to $390.00

Gartner (NYSE:IT) had its target price cut by The Goldman Sachs Group from $457.00 to $390.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.

Several other research analysts have also recently issued reports on IT. Royal Bank Of Canada started coverage on Gartner in a research note on Tuesday, September 9th. They issued a “sector perform” rating and a $263.00 price objective for the company. Morgan Stanley set a $307.00 price target on shares of Gartner in a report on Monday, October 13th. Barclays decreased their price objective on shares of Gartner from $270.00 to $260.00 and set an “equal weight” rating for the company in a research note on Wednesday. UBS Group increased their price objective on shares of Gartner from $270.00 to $280.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Finally, Wells Fargo & Company reduced their target price on shares of Gartner from $231.00 to $218.00 and set an “underweight” rating for the company in a report on Wednesday. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Gartner has a consensus rating of “Hold” and an average target price of $311.67.

Gartner Trading Up 1.8%

Shares of Gartner stock opened at $230.44 on Wednesday. The firm has a market capitalization of $17.45 billion, a price-to-earnings ratio of 14.18 and a beta of 1.19. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.61. Gartner has a 12-month low of $222.54 and a 12-month high of $584.01. The firm’s 50 day simple moving average is $248.17 and its two-hundred day simple moving average is $328.98.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, November 4th. The information technology services provider reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.35. Gartner had a return on equity of 82.63% and a net margin of 19.71%.The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.52 billion. Gartner has set its FY 2025 guidance at 12.650- EPS. Analysts predict that Gartner will post 12.5 EPS for the current year.

Insider Transactions at Gartner

In related news, SVP John J. Rinello sold 105 shares of Gartner stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $249.71, for a total value of $26,219.55. Following the sale, the senior vice president owned 3,225 shares of the company’s stock, valued at approximately $805,314.75. This trade represents a 3.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jose M. Gutierrez purchased 417 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was bought at an average cost of $239.80 per share, with a total value of $99,996.60. Following the acquisition, the director owned 2,080 shares in the company, valued at $498,784. This represents a 25.08% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Gartner during the second quarter worth $394,133,000. T. Rowe Price Investment Management Inc. boosted its position in Gartner by 692.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,066,732 shares of the information technology services provider’s stock worth $447,751,000 after acquiring an additional 932,077 shares during the last quarter. Vanguard Group Inc. boosted its position in Gartner by 5.3% during the third quarter. Vanguard Group Inc. now owns 10,082,185 shares of the information technology services provider’s stock worth $2,650,304,000 after acquiring an additional 509,902 shares during the last quarter. AQR Capital Management LLC grew its stake in Gartner by 304.5% during the 2nd quarter. AQR Capital Management LLC now owns 660,186 shares of the information technology services provider’s stock valued at $266,860,000 after acquiring an additional 496,957 shares in the last quarter. Finally, Sustainable Growth Advisers LP raised its holdings in Gartner by 71.7% in the 2nd quarter. Sustainable Growth Advisers LP now owns 1,161,513 shares of the information technology services provider’s stock valued at $469,507,000 after acquiring an additional 485,188 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

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.