Gartner (NYSE:IT) Sets New 1-Year Low – What’s Next?

Gartner, Inc. (NYSE:IT)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $218.33 and last traded at $219.58, with a volume of 244582 shares. The stock had previously closed at $225.98.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IT. UBS Group raised their price target on shares of Gartner from $256.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, January 9th. Morgan Stanley cut their price target on Gartner from $281.00 to $275.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 17th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Gartner in a research note on Thursday, January 22nd. Wells Fargo & Company lowered their target price on Gartner from $231.00 to $218.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 5th. Finally, Barclays dropped their target price on Gartner from $270.00 to $260.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $309.67.

Gartner Stock Down 5.5%

The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market capitalization of $15.40 billion, a price-to-earnings ratio of 18.77 and a beta of 1.07. The business has a 50 day simple moving average of $238.50 and a 200-day simple moving average of $254.43.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, November 4th. The information technology services provider reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.35. Gartner had a return on equity of 92.12% and a net margin of 13.71%.The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.52 billion. Gartner has set its FY 2025 guidance at 12.650- EPS. On average, equities analysts expect that Gartner, Inc. will post 12.5 EPS for the current year.

Insider Activity

In other news, Director Stephen G. Pagliuca purchased 43,300 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The shares were purchased at an average price of $229.57 per share, for a total transaction of $9,940,381.00. Following the purchase, the director directly owned 111,613 shares of the company’s stock, valued at $25,622,996.41. This represents a 63.38% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John J. Rinello sold 220 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $229.57, for a total transaction of $50,505.40. Following the transaction, the senior vice president directly owned 3,046 shares in the company, valued at $699,270.22. The trade was a 6.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Gartner

Several institutional investors and hedge funds have recently made changes to their positions in IT. Vanguard Group Inc. lifted its holdings in shares of Gartner by 5.3% in the third quarter. Vanguard Group Inc. now owns 10,082,185 shares of the information technology services provider’s stock valued at $2,650,304,000 after purchasing an additional 509,902 shares in the last quarter. Bamco Inc. NY grew its holdings in Gartner by 18.3% during the 3rd quarter. Bamco Inc. NY now owns 4,322,113 shares of the information technology services provider’s stock valued at $1,136,154,000 after buying an additional 669,352 shares during the last quarter. State Street Corp grew its holdings in Gartner by 2.8% during the 3rd quarter. State Street Corp now owns 3,510,206 shares of the information technology services provider’s stock valued at $922,728,000 after buying an additional 96,809 shares during the last quarter. Independent Franchise Partners LLP purchased a new position in Gartner during the third quarter worth $840,166,000. Finally, Capital International Investors acquired a new position in shares of Gartner in the third quarter worth $820,113,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

About Gartner

Gartner, Inc is a global research and advisory firm that provides insights, advice and tools for leaders in IT, finance, HR, customer service and other business functions. Founded in 1979 and headquartered in Stamford, Connecticut, Gartner specializes in helping organizations make informed decisions about technology, operations and strategy through a combination of published research, advisory services, consulting, executive programs and events.

The company’s offerings include proprietary research reports, market forecasts, and analytical frameworks that are widely used by technology buyers and vendors.