Gartner (NYSE:IT) Price Target Lowered to $517.00 at Robert W. Baird

Gartner (NYSE:IT) had its price target lowered by Robert W. Baird from $536.00 to $517.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the information technology services provider’s stock.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley raised their target price on shares of Gartner from $421.00 to $446.00 and gave the company an equal weight rating in a research note on Tuesday, February 6th. StockNews.com cut Gartner from a buy rating to a hold rating in a research note on Saturday, February 10th. BMO Capital Markets increased their target price on Gartner from $444.00 to $450.00 and gave the stock a market perform rating in a research note on Thursday, February 8th. UBS Group raised Gartner from a neutral rating to a buy rating and lifted their price target for the stock from $484.00 to $550.00 in a research report on Thursday, April 11th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Gartner in a report on Tuesday, April 16th. They set a hold rating and a $507.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $477.50.

Gartner Stock Up 2.4 %

IT stock opened at $422.39 on Wednesday. Gartner has a fifty-two week low of $295.43 and a fifty-two week high of $486.54. The company has a market capitalization of $32.93 billion, a price-to-earnings ratio of 42.03, a price-to-earnings-growth ratio of 3.59 and a beta of 1.32. The business’s 50 day moving average price is $463.85 and its two-hundred day moving average price is $439.90. The company has a debt-to-equity ratio of 3.60, a quick ratio of 0.91 and a current ratio of 0.91.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.40. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Gartner had a return on equity of 147.74% and a net margin of 13.35%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.88 earnings per share. As a group, analysts forecast that Gartner will post 11.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Gartner news, EVP Valentin Sribar sold 682 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $453.00, for a total transaction of $308,946.00. Following the completion of the sale, the executive vice president now directly owns 12,269 shares in the company, valued at approximately $5,557,857. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Gartner 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 value of $308,946.00. Following 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 filing with the SEC, which can be accessed through this hyperlink. Also, Director James C. Smith sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $455.00, for a total value of $2,275,000.00. Following the sale, the director now owns 638,235 shares of the company’s stock, valued at $290,396,925. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,952 shares of company stock worth $10,598,070. 3.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley raised its holdings in Gartner by 4.6% in the 3rd quarter. Morgan Stanley now owns 2,157,075 shares of the information technology services provider’s stock worth $741,193,000 after purchasing an additional 95,040 shares during the period. Wellington Management Group LLP lifted its position in shares of Gartner by 12.0% during the 4th quarter. Wellington Management Group LLP now owns 1,852,820 shares of the information technology services provider’s stock valued at $835,826,000 after buying an additional 198,274 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Gartner by 30.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,565,046 shares of the information technology services provider’s stock valued at $537,766,000 after acquiring an additional 364,128 shares during the period. Brown Advisory Inc. increased its holdings in Gartner by 4.6% in the 4th quarter. Brown Advisory Inc. now owns 1,208,914 shares of the information technology services provider’s stock worth $545,353,000 after acquiring an additional 52,826 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in Gartner by 18.5% during the 4th quarter. Franklin Resources Inc. now owns 920,716 shares of the information technology services provider’s stock worth $415,344,000 after acquiring an additional 143,556 shares during the period. 91.51% of the stock is currently owned by institutional investors.

About Gartner

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.