Gartner (IT) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Gartner (NYSE:IT) from a hold rating to a sell rating in a research note published on Tuesday morning.

According to Zacks, “Gartner is facing 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. The company has underperformed the industry, on an average, in the last six months. Nevertheless, 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.”

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Several other brokerages also recently commented on IT. Morgan Stanley raised their price objective on shares of Gartner from $120.00 to $131.00 and gave the stock an equal weight rating in a research report on Wednesday, January 31st. Cantor Fitzgerald reiterated a buy rating and issued a $139.00 target price on shares of Gartner in a report on Tuesday, February 6th. Piper Jaffray reiterated a hold rating and issued a $136.00 target price on shares of Gartner in a report on Tuesday, January 30th. TheStreet upgraded Gartner from a c+ rating to a b rating in a report on Tuesday, February 6th. Finally, Robert W. Baird cut their target price on Gartner from $145.00 to $140.00 and set an outperform rating on the stock in a report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $138.90.

Shares of IT stock traded down $1.16 during trading hours on Tuesday, hitting $117.60. 188,881 shares of the company were exchanged, compared to its average volume of 729,959. The company has a market cap of $10,715.57, a price-to-earnings ratio of 35.35, a price-to-earnings-growth ratio of 1.94 and a beta of 1.14. Gartner has a fifty-two week low of $108.44 and a fifty-two week high of $142.16. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 2.95.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, February 6th. The information technology services provider reported $1.17 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.15). The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Gartner had a return on equity of 42.47% and a net margin of 0.10%. The business’s quarterly revenue was up 44.3% compared to the same quarter last year. During the same period last year, the business earned $0.97 EPS. analysts anticipate that Gartner will post 3.92 earnings per share for the current year.

In other Gartner news, EVP Robin B. Kranich sold 5,064 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $118.19, for a total transaction of $598,514.16. Following the transaction, the executive vice president now directly owns 17,420 shares in the company, valued at approximately $2,058,869.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Robin B. Kranich sold 5,713 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $116.15, for a total value of $663,564.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 83,855 shares of company stock worth $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. BlackRock Inc. lifted its stake in Gartner by 2.6% during the 4th quarter. BlackRock Inc. now owns 6,750,760 shares of the information technology services provider’s stock valued at $831,356,000 after acquiring an additional 169,981 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Gartner by 5.5% during the 3rd quarter. Janus Henderson Group PLC now owns 4,514,836 shares of the information technology services provider’s stock valued at $561,691,000 after acquiring an additional 236,241 shares in the last quarter. Polen Capital Management LLC lifted its stake in Gartner by 1.5% during the 4th quarter. Polen Capital Management LLC now owns 4,132,209 shares of the information technology services provider’s stock valued at $508,882,000 after acquiring an additional 60,017 shares in the last quarter. TimesSquare Capital Management LLC lifted its stake in Gartner by 5.4% during the 4th quarter. TimesSquare Capital Management LLC now owns 2,352,550 shares of the information technology services provider’s stock valued at $289,717,000 after acquiring an additional 121,350 shares in the last quarter. Finally, Atlanta Capital Management Co. L L C lifted its stake in Gartner by 18.2% during the 4th quarter. Atlanta Capital Management Co. L L C now owns 2,202,047 shares of the information technology services provider’s stock valued at $271,182,000 after acquiring an additional 339,426 shares in the last quarter. Institutional investors and hedge funds own 96.77% of the company’s stock.

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Gartner Company Profile

Gartner, Inc operates as a research and advisory company. It operates through four segments: Research, Consulting, Events, and Talent Assessment & Other. The Research segment offers objective insights and advice on the priorities of various leaders in a range of functional areas of the enterprise through research and other reports, briefings, proprietary tools, access to our analysts, peer networking services, and membership programs that enable clients to make better decisions; and practice and talent management research insights in various business functions, such as human resources, sales, legal, and finance.

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