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

Gartner (NYSE:IT) had its price objective lowered by BMO Capital Markets from $450.00 to $432.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “market perform” rating on the information technology services provider’s stock. BMO Capital Markets’ price target suggests a potential upside of 0.78% from the company’s current price.

Several other analysts have also recently weighed in on the stock. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. Robert W. Baird dropped their price target on Gartner from $536.00 to $517.00 and set an “outperform” rating for the company in a report on Wednesday. Morgan Stanley boosted their price objective on Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. UBS Group lowered their target price on Gartner from $550.00 to $510.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Gartner in a report on Tuesday, April 16th. They set a “hold” rating and a $507.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Gartner has an average rating of “Moderate Buy” and a consensus target price of $474.50.

Gartner Stock Performance

IT stock traded up $9.60 during trading on Thursday, reaching $428.64. 478,615 shares of the stock were exchanged, compared to its average volume of 463,111. The stock has a 50 day simple moving average of $462.52 and a 200-day simple moving average of $440.27. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.42. The company has a market capitalization of $33.42 billion, a P/E ratio of 42.65, a price-to-earnings-growth ratio of 3.36 and a beta of 1.32. Gartner has a twelve month low of $295.43 and a twelve month high of $486.54.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.40. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.47 billion. Gartner had a net margin of 13.35% and a return on equity of 141.55%. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.88 EPS. As a group, sell-side analysts anticipate that Gartner will post 11.55 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Valentin Sribar sold 682 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $453.00, for a total transaction 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 $5,557,857. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Valentin Sribar sold 682 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were 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 owns 12,269 shares of the company’s stock, valued at $5,557,857. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Yvonne Genovese sold 560 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $457.37, for a total transaction of $256,127.20. Following the sale, the executive vice president now directly owns 2,398 shares in the company, valued at $1,096,773.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,952 shares of company stock valued at $10,598,070. Company insiders own 3.60% of the company’s stock.

Institutional Trading of Gartner

A number of large investors have recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new position in shares of Gartner during the 3rd quarter worth approximately $25,000. BKM Wealth Management LLC acquired a new stake in shares of Gartner during the 4th quarter worth about $26,000. MCF Advisors LLC bought a new stake in shares of Gartner during the 4th quarter worth about $27,000. Frazier Financial Advisors LLC bought a new position in Gartner in the 4th quarter valued at about $27,000. Finally, VisionPoint Advisory Group LLC raised its holdings in Gartner by 254.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 85 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 61 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

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.