Gartner Inc (NYSE:IT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
According to Zacks, “Gartner, Inc. is a research and advisory firm that helps clients understand technology and drive business growth. Gartner’s divisions consist of Gartner Research, Gartner Consulting, Gartner Measurement and Gartner Events. Gartner has the most comprehensive body of global research that reports on and analyzes the technologies that drive business and organizational success. Gartner Consulting leverages the company’s industry-leading research capabilities to deliver hands-on client support, from strategy to measurable results. “
Other equities analysts also recently issued reports about the stock. Royal Bank of Canada raised shares of Gartner from an “outperform” rating to a “top pick” rating and lifted their price objective for the stock from $117.00 to $124.00 in a report on Monday, March 13th. Cantor Fitzgerald set a $108.00 price objective on shares of Gartner and gave the stock a “buy” rating in a report on Thursday, February 2nd. Barclays PLC raised shares of Gartner from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $96.00 to $115.00 in a report on Monday, January 9th. Macquarie downgraded shares of Gartner from an “outperform” rating to a “neutral” rating in a report on Friday, January 6th. Finally, BMO Capital Markets raised shares of Gartner from a “market perform” rating to an “outperform” rating and set a $105.00 price objective on the stock in a report on Friday, January 6th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Gartner presently has an average rating of “Buy” and a consensus target price of $107.44.
Gartner (NYSE:IT) traded down 0.70% during trading on Tuesday, reaching $107.99. 1,095,973 shares of the company were exchanged. The stock has a market capitalization of $8.93 billion, a price-to-earnings ratio of 46.75 and a beta of 1.09. The firm’s 50 day moving average price is $105.91 and its 200-day moving average price is $98.71. Gartner has a one year low of $84.54 and a one year high of $112.42.
Gartner (NYSE:IT) last posted its quarterly earnings results on Thursday, February 2nd. The company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by $0.01. Gartner had a net margin of 7.57% and a negative return on equity of 408.56%. The business earned $703.20 million during the quarter, compared to analyst estimates of $714.01 million. During the same period in the previous year, the business posted $0.92 EPS. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. On average, equities research analysts predict that Gartner will post $3.22 earnings per share for the current year.
In related news, CEO Eugene A. Hall sold 61,181 shares of the business’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $101.41, for a total value of $6,204,365.21. Following the transaction, the chief executive officer now directly owns 1,173,566 shares of the company’s stock, valued at approximately $119,011,328.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Alwyn Dawkins sold 5,000 shares of the business’s stock in a transaction dated Tuesday, February 14th. The stock was sold at an average price of $101.35, for a total transaction of $506,750.00. Following the completion of the transaction, the senior vice president now directly owns 49,183 shares in the company, valued at $4,984,697.05. The disclosure for this sale can be found here. Insiders sold a total of 76,466 shares of company stock worth $7,770,367 over the last three months. 4.40% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of the company. Teachers Advisors LLC increased its position in shares of Gartner by 21.1% in the fourth quarter. Teachers Advisors LLC now owns 84,611 shares of the company’s stock worth $8,552,000 after buying an additional 14,729 shares during the period. Quadrature Capital Ltd increased its position in shares of Gartner by 344.1% in the fourth quarter. Quadrature Capital Ltd now owns 16,863 shares of the company’s stock worth $1,705,000 after buying an additional 13,066 shares during the period. Norges Bank bought a new position in shares of Gartner during the fourth quarter worth $73,679,000. Sandler Capital Management bought a new position in shares of Gartner during the fourth quarter worth $9,031,000. Finally, Thrivent Financial for Lutherans increased its position in shares of Gartner by 8.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 14,080 shares of the company’s stock worth $1,423,000 after buying an additional 1,110 shares during the period. 90.39% of the stock is currently owned by institutional investors.
Gartner Company Profile
Gartner, Inc is an information technology research and advisory company. The Company works with clients to research, analyze and interpret the business of information technology (IT), supply chain and marketing within the context of their individual roles. It operates in three segments: Research, Consulting and Events.
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