Gartner (NYSE:IT) Downgraded to Hold at ValuEngine

ValuEngine downgraded shares of Gartner (NYSE:IT) from a buy rating to a hold rating in a research report sent to investors on Thursday, ValuEngine reports.

A number of other equities research analysts also recently issued reports on the stock. BMO Capital Markets lowered their target price on shares of Gartner to $142.00 and set a market perform rating for the company in a report on Wednesday, July 31st. Cantor Fitzgerald boosted their price objective on shares of Gartner from $141.00 to $152.00 and gave the stock a neutral rating in a research note on Wednesday, May 8th. Morgan Stanley decreased their price objective on shares of Gartner from $156.00 to $155.00 and set an equal weight rating for the company in a research note on Wednesday, July 31st. Finally, Zacks Investment Research upgraded shares of Gartner from a sell rating to a hold rating in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Gartner currently has an average rating of Hold and an average target price of $152.14.

Gartner stock opened at $135.11 on Thursday. Gartner has a 1 year low of $120.89 and a 1 year high of $171.77. The firm has a 50 day moving average of $163.13. The stock has a market capitalization of $12.38 billion, a P/E ratio of 35.65, a price-to-earnings-growth ratio of 2.88 and a beta of 1.25. The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 2.93.

Gartner (NYSE:IT) last released its earnings results on Tuesday, July 30th. The information technology services provider reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.27. Gartner had a net margin of 5.43% and a return on equity of 41.29%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the firm earned $1.03 earnings per share. Gartner’s revenue was up 7.0% compared to the same quarter last year. As a group, analysts anticipate that Gartner will post 3.52 EPS for the current fiscal year.

In other news, EVP Michael Patrick Diliberto sold 700 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $154.00, for a total value of $107,800.00. Following the completion of the transaction, the executive vice president now directly owns 8,652 shares in the company, valued at $1,332,408. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robin B. Kranich sold 6,366 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $154.27, for a total transaction of $982,082.82. Following the completion of the transaction, the executive vice president now owns 10,265 shares of the company’s stock, valued at $1,583,581.55. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,610 shares of company stock valued at $2,103,725. 4.00% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in IT. Avestar Capital LLC boosted its stake in shares of Gartner by 1,036.8% in the first quarter. Avestar Capital LLC now owns 216 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 197 shares during the period. Ibex Wealth Advisors acquired a new stake in Gartner in the second quarter valued at $40,000. Smithfield Trust Co. raised its holdings in Gartner by 80.9% in the first quarter. Smithfield Trust Co. now owns 425 shares of the information technology services provider’s stock valued at $64,000 after acquiring an additional 190 shares in the last quarter. Advisory Services Network LLC raised its holdings in Gartner by 98.0% in the second quarter. Advisory Services Network LLC now owns 788 shares of the information technology services provider’s stock valued at $127,000 after acquiring an additional 390 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Gartner by 50.0% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the information technology services provider’s stock valued at $193,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 99.03% of the company’s stock.

Gartner Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Gartner (NYSE:IT)

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