Gartner (IT) – Analysts’ Recent Ratings Updates

Several brokerages have updated their recommendations and price targets on shares of Gartner (NYSE: IT) in the last few weeks:

  • 5/9/2019 – Gartner was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Gartner’s reported strong first-quarter 2019 results beating the Zacks Consensus Estimate on both earnings and revenues. The company offers timely, high quality, independent, objective and comprehensive analysis. Its research reports have become indispensable tools for various companies across different sectors, strengthening its leading position in the market. It has a large and diverse addressable market with low customer concentration that mitigates operating risks. On the flip side, Gartner continues to face stiff competition from other players in the market, which is characterized by limited barriers to entry. Revenues from the federal government business are exposed to lengthy approval times and other austerity measures, which often increase operating risks. The stock has outperformed its industry over the past year.”
  • 5/8/2019 – Gartner had its price target raised by analysts at Cantor Fitzgerald from $141.00 to $152.00. They now have a “neutral” rating on the stock.
  • 5/8/2019 – Gartner had its price target raised by analysts at BMO Capital Markets from $150.00 to $155.00. They now have a “market perform” rating on the stock.
  • 5/8/2019 – Gartner had its price target raised by analysts at Morgan Stanley from $147.00 to $148.00. They now have an “equal weight” rating on the stock.
  • 5/1/2019 – Gartner was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Gartner continues to face stiff competition from other players in the market, which is characterized by limited barriers to entry. Further, revenues from the federal government business are exposed to lengthy approval times and other austerity measures, which often increase operating risks. These factors undermine the long-term growth potential of the company to some extent. On the flip side, Gartner’s research reports have become indispensable tools for various companies across different sectors, strengthening its leading position in the market. The company offers timely, high quality, independent, objective and comprehensive analysis. It has a large and diverse addressable market with low customer concentration that mitigates operating risks. The stock has outperformed its industry over the past year.”
  • 4/25/2019 – Gartner was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Gartner continues to face stiff competition from other players in the market, which is characterized by limited barriers to entry. Further, revenues from the federal government business are exposed to lengthy approval times and other austerity measures, which often increase operating risks. These factors undermine the long-term growth potential of the company to some extent. On the flip side, Gartner’s research reports have become indispensable tools for various companies across different sectors, strengthening its leading position in the market. The company offers timely, high quality, independent, objective and comprehensive analysis. It has a large and diverse addressable market with low customer concentration that mitigates operating risks. The stock has outperformed its industry over the past year.”
  • 4/15/2019 – Gartner was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Gartner continues to face stiff competition from other players in the market that is characterized by limited barriers to entry. Further, revenue from the federal government business is exposed to lengthy approval times and other austerity measures, which often increases operating risks. The stock has underperformed its industry on a year to date basis. Nevertheless, the company's ability to provide timely and comprehensive analysis characterized by quality, independence and objectivity, is appreciable. Gartner’s research reports have become indispensable tools for various companies across different sectors, strengthening its leading position in the market.”

Shares of Gartner stock opened at $153.52 on Monday. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market cap of $13.83 billion, a PE ratio of 40.51, a price-to-earnings-growth ratio of 2.74 and a beta of 1.31. Gartner Inc has a 1-year low of $120.89 and a 1-year high of $161.85.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, May 7th. The information technology services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. Gartner had a return on equity of 37.59% and a net margin of 4.09%. The company had revenue of $970.00 million during the quarter, compared to the consensus estimate of $960.72 million. During the same period last year, the firm earned $0.72 earnings per share. The company’s revenue was up .6% on a year-over-year basis. On average, analysts predict that Gartner Inc will post 3.96 EPS for the current fiscal year.

In other news, EVP Alwyn Dawkins sold 1,909 shares of the stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $142.01, for a total transaction of $271,097.09. Following the transaction, the executive vice president now owns 35,822 shares of the company’s stock, valued at $5,087,082.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eugene A. Hall sold 90,935 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $143.22, for a total transaction of $13,023,710.70. Following the transaction, the chief executive officer now directly owns 1,174,006 shares in the company, valued at approximately $168,141,139.32. The disclosure for this sale can be found here. Insiders have sold 113,234 shares of company stock worth $16,211,414 in the last ninety days. Corporate insiders own 4.00% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Avestar Capital LLC lifted its holdings in Gartner by 1,036.8% in the first quarter. Avestar Capital LLC now owns 216 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 197 shares during the last quarter. Rockefeller Capital Management L.P. bought a new position in Gartner in the first quarter worth about $42,000. Signet Investment Advisory Group Inc. bought a new position in Gartner in the fourth quarter worth about $38,000. Sontag Advisory LLC bought a new position in Gartner in the fourth quarter worth about $47,000. Finally, Claybrook Capital LLC bought a new position in Gartner in the fourth quarter worth about $51,000. 99.23% of the stock is currently owned by institutional investors and hedge funds.

Gartner, Inc operates as a research and advisory company. It operates through three segments: Research, Conferences, and Consulting. The Research segment offers objective insights and advice on the priorities of various leaders in a range of functional areas of the enterprise through research and other reports, briefings, proprietary tools, access to analysts, peer networking services, and membership programs that enable clients to make better decisions; and practice and talent management research insights in various business functions, such as human resources, sales, legal, and finance.

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