Zacks Investment Research upgraded shares of Gartner (NYSE:IT) from a sell rating to a hold rating in a research report report published on Tuesday.
According to Zacks, “Gartner has a large and diverse addressable market with low customer concentration that mitigates operating risks. With a diligent execution of operational plans, Gartner has recorded double-digit growth in key metrics for over a decade. The company has a strong cash flow and a healthy balance sheet position. Gartner offers timely, comprehensive analysis that is known for its quality, independence and objectivity. However, the company has underperformed the industry, on an average, in the last three months. In order to retain a competitive edge, Gartner has to continually invest in value drivers that increase its operating costs and contract margins. It faces stiff competition from other players in the market that is characterized by limited barriers to entry. A significant portion of Gartner’s revenues is generated from operations outside the United States, an adverse foreign currency fluctuations erode the profitability of the company.”
Other analysts also recently issued research reports about the stock. Morgan Stanley lowered their target price on shares of Gartner from $131.00 to $127.00 and set an equal weight rating for the company in a report on Wednesday, February 7th. TheStreet upgraded shares of Gartner from a c+ rating to a b rating in a report on Tuesday, February 6th. Credit Suisse Group reiterated an outperform rating and issued a $142.00 target price (down previously from $160.00) on shares of Gartner in a report on Wednesday, February 7th. Robert W. Baird lowered their target price on shares of Gartner from $145.00 to $140.00 and set an outperform rating for the company in a report on Wednesday, February 7th. Finally, Piper Jaffray Companies reiterated a hold rating and issued a $130.00 target price on shares of Gartner in a report on Tuesday, January 23rd. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $138.90.
Gartner (NYSE:IT) last announced its earnings results on Tuesday, February 6th. The information technology services provider reported $1.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by ($0.15). The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. Gartner had a net margin of 0.10% and a return on equity of 42.47%. The business’s revenue for the quarter was up 44.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.97 EPS. sell-side analysts expect that Gartner will post 3.94 EPS for the current year.
In other Gartner news, CEO Eugene A. Hall sold 49,687 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $116.39, for a total transaction of $5,783,069.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Alwyn Dawkins sold 2,000 shares of the stock in a transaction dated Wednesday, March 14th. The stock was sold at an average price of $122.82, for a total transaction of $245,640.00. Following the transaction, the executive vice president now owns 32,133 shares of the company’s stock, valued at approximately $3,946,575.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,855 shares of company stock valued at $9,818,666. 4.30% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the business. Fiduciary Trust Co. boosted its position in Gartner by 8.6% during the fourth quarter. Fiduciary Trust Co. now owns 4,949 shares of the information technology services provider’s stock worth $610,000 after purchasing an additional 393 shares during the period. Crossmark Global Holdings Inc. boosted its position in Gartner by 3.7% during the fourth quarter. Crossmark Global Holdings Inc. now owns 11,871 shares of the information technology services provider’s stock worth $1,462,000 after purchasing an additional 422 shares during the period. Norinchukin Bank The boosted its position in Gartner by 7.5% during the third quarter. Norinchukin Bank The now owns 6,744 shares of the information technology services provider’s stock worth $839,000 after purchasing an additional 468 shares during the period. Strs Ohio boosted its position in Gartner by 5.4% during the fourth quarter. Strs Ohio now owns 9,314 shares of the information technology services provider’s stock worth $1,147,000 after purchasing an additional 478 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its position in Gartner by 32.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,021 shares of the information technology services provider’s stock worth $249,000 after purchasing an additional 491 shares during the period. Hedge funds and other institutional investors own 96.77% 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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