BMO Capital Markets Cuts Gartner (NYSE:IT) Price Target to $432.00

Gartner (NYSE:IT) had its price objective cut by BMO Capital Markets from $450.00 to $432.00 in a report released on Thursday, Benzinga reports. They currently have a market perform rating on the information technology services provider’s stock.

Several other brokerages also recently commented on IT. StockNews.com downgraded Gartner from a buy rating to a hold rating in a research note on Saturday, February 10th. Deutsche Bank Aktiengesellschaft assumed coverage on Gartner in a research note on Tuesday, April 16th. They set a hold rating and a $507.00 price objective on the stock. UBS Group dropped their price target on Gartner from $550.00 to $510.00 and set a buy rating on the stock in a research note on Wednesday, May 1st. Robert W. Baird dropped their price target on Gartner from $536.00 to $517.00 and set an outperform rating on the stock in a research note on Wednesday, May 1st. Finally, Morgan Stanley raised their price objective on Gartner from $421.00 to $446.00 and gave the company an equal weight rating in a report on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $474.50.

Gartner Stock Performance

Gartner stock traded up $6.61 during trading hours on Thursday, hitting $435.25. The stock had a trading volume of 91,271 shares, compared to its average volume of 407,272. The company has a 50-day moving average of $462.52 and a two-hundred day moving average of $441.53. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.42. The company has a market cap of $33.94 billion, a PE ratio of 42.65, a price-to-earnings-growth ratio of 3.44 and a beta of 1.32. Gartner has a fifty-two week low of $300.94 and a fifty-two week high of $486.54.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.40. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Gartner had a return on equity of 141.55% and a net margin of 13.35%. Gartner’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.88 EPS. On average, equities research analysts anticipate that Gartner will post 11.55 EPS for the current fiscal year.

Insider Buying and Selling at Gartner

In related news, EVP Valentin Sribar sold 682 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $453.00, for a total transaction of $308,946.00. Following the sale, the executive vice president now directly owns 12,269 shares in the company, valued at approximately $5,557,857. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Valentin Sribar sold 682 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $453.00, for a total value of $308,946.00. Following the completion of the transaction, the executive vice president now directly owns 12,269 shares in the company, valued at approximately $5,557,857. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Akhil Jain sold 250 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $464.55, for a total value of $116,137.50. Following the sale, the executive vice president now owns 5,239 shares of the company’s stock, valued at $2,433,777.45. The disclosure for this sale can be found here. Insiders have sold a total of 22,952 shares of company stock worth $10,598,070 over the last ninety days. 3.60% of the stock is currently owned by company insiders.

Institutional Trading of Gartner

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

Gartner Company Profile

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.