Gartner (NYSE:IT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued 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 equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada lifted their price target on shares of Gartner to $98.00 and gave the company a “top pick” rating in a research note on Friday, January 19th. They noted that the move was a valuation call. Piper Jaffray Companies restated a “hold” rating and issued a $130.00 price objective on shares of Gartner in a report on Tuesday, January 23rd. Morgan Stanley lifted their price target on Gartner from $120.00 to $131.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. Cantor Fitzgerald reiterated a “buy” rating and set a $139.00 price target on shares of Gartner in a report on Tuesday, February 6th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $142.00 price target (down previously from $160.00) on shares of Gartner in a report on Wednesday, February 7th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $138.90.
Shares of Gartner (NYSE IT) traded up $0.89 during trading on Tuesday, hitting $124.29. 174,458 shares of the company traded hands, compared to its average volume of 729,885. The stock has a market cap of $11,265.11, a price-to-earnings ratio of 4,143.00, a P/E/G ratio of 2.04 and a beta of 1.22. 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 has a 52-week low of $107.00 and a 52-week high of $142.16.
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 Thomson Reuters’ consensus estimate of $1.32 by ($0.15). Gartner had a net margin of 0.10% and a return on equity of 42.47%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same period in the previous year, the business earned $0.97 earnings per share. The business’s revenue for the quarter was up 44.3% compared to the same quarter last year. analysts anticipate that Gartner will post 3.92 EPS for the current year.
In other Gartner news, EVP Robin B. Kranich sold 5,713 shares of Gartner stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $116.15, for a total value of $663,564.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Alwyn Dawkins sold 2,000 shares of Gartner stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $122.82, for a total value of $245,640.00. Following the completion of the transaction, the executive vice president now directly owns 32,133 shares of the company’s stock, valued at $3,946,575.06. The disclosure for this sale can be found here. Insiders have sold a total of 83,855 shares of company stock valued at $9,818,666 over the last three months. Corporate insiders own 4.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fiduciary Trust Co. grew its position in shares of 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 buying an additional 393 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in Gartner by 3.7% in the fourth quarter. Crossmark Global Holdings Inc. now owns 11,871 shares of the information technology services provider’s stock valued at $1,462,000 after buying an additional 422 shares during the last quarter. Norinchukin Bank The lifted its stake in Gartner by 7.5% in the third quarter. Norinchukin Bank The now owns 6,744 shares of the information technology services provider’s stock valued at $839,000 after buying an additional 468 shares during the last quarter. Strs Ohio raised its stake in shares of 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 last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of 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 last quarter. 96.77% of the stock is owned by institutional investors.
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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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