Wells Fargo & Company Issues Pessimistic Forecast for Gartner (NYSE:IT) Stock Price

Gartner (NYSE:IT) had its price target cut by equities researchers at Wells Fargo & Company from $231.00 to $218.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “underweight” rating on the information technology services provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential downside of 3.63% from the stock’s previous close.

IT has been the subject of several other reports. Barclays dropped their price objective on Gartner from $270.00 to $260.00 and set an “equal weight” rating for the company in a research note on Wednesday. UBS Group increased their target price on shares of Gartner from $270.00 to $280.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Wolfe Research started coverage on shares of Gartner in a report on Wednesday, September 3rd. They set a “peer perform” rating for the company. Morgan Stanley set a $307.00 price objective on shares of Gartner in a research note on Monday, October 13th. Finally, Royal Bank Of Canada initiated coverage on shares of Gartner in a report on Tuesday, September 9th. They set a “sector perform” rating and a $263.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $311.67.

Gartner Stock Performance

NYSE:IT opened at $226.21 on Wednesday. The firm has a market capitalization of $17.13 billion, a PE ratio of 13.92 and a beta of 1.19. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61. Gartner has a 12-month low of $222.54 and a 12-month high of $584.01. The firm has a 50-day moving average price of $248.59 and a 200 day moving average price of $330.11.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, November 4th. The information technology services provider reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.35. The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.52 billion. Gartner had a return on equity of 82.63% and a net margin of 19.71%. Gartner has set its FY 2025 guidance at 12.650- EPS. Research analysts anticipate that Gartner will post 12.5 earnings per share for the current fiscal year.

Insider Transactions at Gartner

In related news, Director Jose M. Gutierrez bought 417 shares of Gartner stock in a transaction dated Monday, August 18th. The shares were bought at an average cost of $239.80 per share, for a total transaction of $99,996.60. Following the completion of the transaction, the director owned 2,080 shares of the company’s stock, valued at approximately $498,784. This trade represents a 25.08% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP John J. Rinello sold 105 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $249.71, for a total transaction of $26,219.55. Following the sale, the senior vice president directly owned 3,225 shares in the company, valued at $805,314.75. This trade represents a 3.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Gartner

Institutional investors and hedge funds have recently made changes to their positions in the company. Addison Advisors LLC bought a new position in Gartner in the second quarter valued at about $27,000. Ransom Advisory Ltd acquired a new position in Gartner during the 1st quarter valued at about $29,000. True Wealth Design LLC grew its position in shares of Gartner by 1,130.8% during the 3rd quarter. True Wealth Design LLC now owns 160 shares of the information technology services provider’s stock worth $42,000 after buying an additional 147 shares during the period. Chilton Capital Management LLC bought a new stake in shares of Gartner during the second quarter worth approximately $47,000. Finally, Versant Capital Management Inc lifted its holdings in Gartner by 1,284.6% in the third quarter. Versant Capital Management Inc now owns 180 shares of the information technology services provider’s stock valued at $47,000 after buying an additional 167 shares during the period. Institutional investors own 91.51% of the company’s stock.

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.