Gartner Inc (NYSE:IT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
According to Zacks, “Gartner, Inc. is a research and advisory firm that helps clients understand technology and drive business growth. Gartner’s divisions consist of Gartner Research, Gartner Consulting, Gartner Measurement and Gartner Events. Gartner has the most comprehensive body of global research that reports on and analyzes the technologies that drive business and organizational success. Gartner Consulting leverages the company’s industry-leading research capabilities to deliver hands-on client support, from strategy to measurable results. “
Other analysts have also recently issued reports about the company. Cantor Fitzgerald set a $108.00 price objective on Gartner and gave the company a “buy” rating in a research report on Thursday, February 2nd. Royal Bank of Canada restated a “buy” rating and set a $116.00 price objective on shares of Gartner in a research report on Friday, January 20th. Macquarie cut Gartner from an “outperform” rating to a “neutral” rating in a research report on Friday, January 6th. BMO Capital Markets upgraded Gartner from a “market perform” rating to an “outperform” rating and set a $105.00 price objective on the stock in a research report on Friday, January 6th. Finally, Barclays PLC upgraded Gartner from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $96.00 to $115.00 in a research report on Monday, January 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $107.44.
Gartner (NYSE:IT) opened at 108.60 on Tuesday. The stock’s 50 day moving average is $105.56 and its 200-day moving average is $98.57. Gartner has a 1-year low of $84.54 and a 1-year high of $112.42. The firm has a market cap of $8.98 billion, a P/E ratio of 47.01 and a beta of 1.09.
Gartner (NYSE:IT) last released its quarterly earnings data on Thursday, February 2nd. The company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by $0.01. The firm had revenue of $703.20 million for the quarter, compared to the consensus estimate of $714.01 million. Gartner had a net margin of 7.57% and a negative return on equity of 408.56%. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 earnings per share. Analysts forecast that Gartner will post $3.22 EPS for the current year.
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In other news, SVP Alwyn Dawkins sold 5,000 shares of the stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $101.35, for a total transaction of $506,750.00. Following the sale, the senior vice president now owns 49,183 shares in the company, valued at $4,984,697.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Per Anders Waern sold 10,285 shares of the stock in a transaction on Friday, February 17th. The stock was sold at an average price of $102.99, for a total value of $1,059,252.15. Following the sale, the senior vice president now owns 600 shares in the company, valued at approximately $61,794. The disclosure for this sale can be found here. Insiders sold 76,466 shares of company stock worth $7,770,367 over the last quarter. Company insiders own 4.40% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. BlackRock Fund Advisors boosted its stake in shares of Gartner by 3.8% in the third quarter. BlackRock Fund Advisors now owns 4,094,395 shares of the company’s stock valued at $362,149,000 after buying an additional 150,639 shares during the last quarter. Polen Capital Management LLC boosted its stake in shares of Gartner by 8.1% in the fourth quarter. Polen Capital Management LLC now owns 3,435,091 shares of the company’s stock valued at $347,185,000 after buying an additional 258,452 shares during the last quarter. State Street Corp boosted its stake in shares of Gartner by 0.6% in the fourth quarter. State Street Corp now owns 2,662,379 shares of the company’s stock valued at $269,080,000 after buying an additional 14,672 shares during the last quarter. TimesSquare Capital Management LLC boosted its stake in shares of Gartner by 7.6% in the third quarter. TimesSquare Capital Management LLC now owns 2,207,575 shares of the company’s stock valued at $195,260,000 after buying an additional 155,225 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Gartner by 2.4% in the third quarter. JPMorgan Chase & Co. now owns 1,392,630 shares of the company’s stock valued at $123,177,000 after buying an additional 33,035 shares during the last quarter. Institutional investors own 90.39% of the company’s stock.
Gartner Company Profile
Gartner, Inc is an information technology research and advisory company. The Company works with clients to research, analyze and interpret the business of information technology (IT), supply chain and marketing within the context of their individual roles. It operates in three segments: Research, Consulting and Events.
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