TheStreet Downgrades Gartner, Inc. (IT) to C+

TheStreet lowered shares of Gartner, Inc. (NYSE:IT) from a b rating to a c+ rating in a research report report published on Tuesday morning.

Several other brokerages also recently commented on IT. BidaskClub downgraded Gartner from a strong-buy rating to a buy rating in a research note on Wednesday. Credit Suisse Group reiterated a buy rating and set a $124.00 target price on shares of Gartner in a research note on Tuesday, April 11th. Morgan Stanley lifted their target price on Gartner from $106.00 to $112.00 and gave the stock an equal weight rating in a research note on Monday, May 8th. BMO Capital Markets lifted their target price on Gartner from $110.00 to $128.00 and gave the stock an outperform rating in a research note on Monday, May 1st. Finally, Zacks Investment Research downgraded Gartner from a buy rating to a hold rating in a research note on Tuesday, July 11th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $126.44.

Gartner (NYSE IT) opened at 116.92 on Tuesday. The stock has a market cap of $10.59 billion, a PE ratio of 240.08 and a beta of 1.05. Gartner has a 1-year low of $84.54 and a 1-year high of $130.02. The firm’s 50-day moving average price is $125.58 and its 200 day moving average price is $114.11.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, August 8th. The information technology services provider reported $0.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.05. Gartner had a return on equity of 103.10% and a net margin of 1.50%. The company had revenue of $843.73 million during the quarter, compared to the consensus estimate of $892.64 million. During the same period in the previous year, the company posted $0.75 EPS. The firm’s revenue for the quarter was up 38.3% compared to the same quarter last year. Equities research analysts expect that Gartner will post $3.42 EPS for the current year.

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In related news, SVP Peter Sondergaard sold 4,172 shares of Gartner stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $111.90, for a total transaction of $466,846.80. Following the completion of the sale, the senior vice president now directly owns 93,765 shares of the company’s stock, valued at approximately $10,492,303.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Eugene A. Hall sold 38,800 shares of Gartner stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $117.86, for a total value of $4,572,968.00. Following the sale, the chief executive officer now directly owns 1,304,375 shares of the company’s stock, valued at $153,733,637.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,297 shares of company stock valued at $5,793,254. 4.40% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in IT. Vanguard Group Inc. boosted its stake in Gartner by 32.4% in the second quarter. Vanguard Group Inc. now owns 8,680,305 shares of the information technology services provider’s stock valued at $1,072,104,000 after buying an additional 2,125,783 shares during the last quarter. BlackRock Inc. boosted its stake in Gartner by 5,309.2% in the first quarter. BlackRock Inc. now owns 8,174,829 shares of the information technology services provider’s stock valued at $882,800,000 after buying an additional 8,023,700 shares during the last quarter. Polen Capital Management LLC boosted its stake in Gartner by 6.9% in the second quarter. Polen Capital Management LLC now owns 3,972,949 shares of the information technology services provider’s stock valued at $490,699,000 after buying an additional 257,899 shares during the last quarter. Janus Capital Management LLC boosted its stake in Gartner by 62.0% in the first quarter. Janus Capital Management LLC now owns 3,555,481 shares of the information technology services provider’s stock valued at $383,956,000 after buying an additional 1,360,165 shares during the last quarter. Finally, State Street Corp boosted its stake in Gartner by 2.1% in the first quarter. State Street Corp now owns 2,718,707 shares of the information technology services provider’s stock valued at $293,593,000 after buying an additional 56,328 shares during the last quarter. 87.01% of the stock is owned by institutional investors and hedge funds.

About Gartner

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.

Analyst Recommendations for Gartner (NYSE:IT)

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