UBS Group Cuts Gartner (NYSE:IT) Price Target to $510.00

Gartner (NYSE:IT) had its target price dropped by research analysts at UBS Group from $550.00 to $510.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the information technology services provider’s stock. UBS Group’s target price points to a potential upside of 20.81% from the company’s current price.

IT has been the subject of several other research reports. Morgan Stanley boosted their target price on shares of Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. BMO Capital Markets upped their price target on shares of Gartner from $444.00 to $450.00 and gave the company a “market perform” rating in a report on Thursday, February 8th. Robert W. Baird cut their price target on shares of Gartner from $536.00 to $517.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Gartner in a research note on Tuesday, April 16th. They set a “hold” rating and a $507.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $477.50.

Gartner Stock Up 2.3 %

IT traded up $9.55 during trading on Wednesday, hitting $422.14. The company had a trading volume of 428,514 shares, compared to its average volume of 400,958. The company has a market cap of $32.91 billion, a PE ratio of 38.18, a P/E/G ratio of 4.12 and a beta of 1.29. The business has a 50-day moving average of $464.22 and a 200-day moving average of $440.03. The company has a debt-to-equity ratio of 3.60, a current ratio of 0.91 and a quick ratio of 0.91. Gartner has a 1-year low of $295.43 and a 1-year high of $486.54.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.40. Gartner had a net margin of 14.94% and a return on equity of 156.35%. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the prior year, the company posted $2.88 earnings per share. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, analysts forecast that Gartner will post 11.29 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Valentin Sribar sold 682 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $453.00, for a total value of $308,946.00. Following the transaction, the executive vice president now owns 12,269 shares in the company, valued at $5,557,857. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Gartner news, EVP Valentin Sribar sold 682 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $453.00, for a total transaction of $308,946.00. Following the transaction, the executive vice president now owns 12,269 shares in the company, valued at $5,557,857. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Claire Herkes sold 1,460 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $475.76, for a total value of $694,609.60. Following the completion of the sale, the executive vice president now directly owns 2,842 shares of the company’s stock, valued at $1,352,109.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,952 shares of company stock worth $10,598,070. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Gartner

Several hedge funds have recently modified their holdings of IT. Mission Wealth Management LP lifted its holdings in shares of Gartner by 8.6% during the first quarter. Mission Wealth Management LP now owns 493 shares of the information technology services provider’s stock valued at $235,000 after acquiring an additional 39 shares during the period. Diversify Advisory Services LLC acquired a new stake in shares of Gartner in the first quarter valued at $1,019,000. Findlay Park Partners LLP increased its stake in shares of Gartner by 5.7% in the first quarter. Findlay Park Partners LLP now owns 678,121 shares of the information technology services provider’s stock valued at $323,240,000 after buying an additional 36,400 shares in the last quarter. Norden Group LLC increased its position in Gartner by 33.5% in the first quarter. Norden Group LLC now owns 3,562 shares of the information technology services provider’s stock worth $1,698,000 after purchasing an additional 893 shares during the period. Finally, HB Wealth Management LLC increased its position in Gartner by 9.0% in the first quarter. HB Wealth Management LLC now owns 1,170 shares of the information technology services provider’s stock worth $558,000 after purchasing an additional 97 shares during the period. 91.51% of the stock is owned by institutional investors.

About Gartner

Gartner, Inc operates as a research and advisory company in the United States, Canada, Europe, the Middle East, Africa, and internationally. It operates through three segments: Research, Conferences, and Consulting. The Research segment delivers its research primarily through a subscription service that include on-demand access to published research content, data and benchmarks, and direct access to a network of research experts.