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

Gartner (NYSE:IT - Get Free Report) had its price target lowered by stock analysts at Barclays from $600.00 to $510.00 in a research note issued to investors on Friday, MarketBeat reports. The brokerage presently has an "overweight" rating on the information technology services provider's stock. Barclays's price target indicates a potential upside of 29.01% from the stock's previous close.

Other research analysts also recently issued research reports about the company. StockNews.com downgraded Gartner from a "buy" rating to a "hold" rating in a report on Friday, March 21st. The Goldman Sachs Group reiterated a "buy" rating on shares of Gartner in a research report on Tuesday, February 4th. Robert W. Baird cut their price objective on shares of Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. UBS Group lowered their target price on shares of Gartner from $565.00 to $500.00 and set a "buy" rating for the company in a report on Tuesday, March 25th. Finally, Wells Fargo & Company cut their price target on Gartner from $470.00 to $460.00 and set an "underweight" rating on the stock in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $525.38.

Remove Ads

Gartner Price Performance

IT stock traded up $17.81 during midday trading on Friday, reaching $395.31. 883,171 shares of the company's stock traded hands, compared to its average volume of 443,737. The company has a 50-day simple moving average of $473.02 and a two-hundred day simple moving average of $499.35. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. Gartner has a 1-year low of $366.05 and a 1-year high of $584.01. The company has a market cap of $30.37 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 3.30 and a beta of 1.26.

Gartner (NYSE:IT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $2.23. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The firm's quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.04 EPS. On average, analysts anticipate that Gartner will post 12.5 earnings per share for the current year.

Insider Activity

In other Gartner news, SVP John J. Rinello sold 90 shares of Gartner stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the transaction, the senior vice president now owns 3,259 shares of the company's stock, valued at approximately $1,728,932.09. The trade was a 2.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eileen Serra sold 1,200 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the sale, the director now directly owns 1,627 shares of the company's stock, valued at $796,855.79. This represents a 42.45 % decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. NBC Securities Inc. lifted its stake in Gartner by 111,366.7% in the 1st quarter. NBC Securities Inc. now owns 3,344 shares of the information technology services provider's stock valued at $1,403,000 after acquiring an additional 3,341 shares in the last quarter. Czech National Bank boosted its position in Gartner by 5.5% during the first quarter. Czech National Bank now owns 17,643 shares of the information technology services provider's stock worth $7,405,000 after purchasing an additional 918 shares during the period. Rhumbline Advisers grew its stake in Gartner by 6.9% in the 1st quarter. Rhumbline Advisers now owns 161,754 shares of the information technology services provider's stock valued at $67,895,000 after buying an additional 10,389 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its position in shares of Gartner by 7.4% in the first quarter. Fifth Third Wealth Advisors LLC now owns 655 shares of the information technology services provider's stock valued at $275,000 after purchasing an additional 45 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in Gartner by 6.1% during the 1st quarter. Parallel Advisors LLC now owns 782 shares of the information technology services provider's stock worth $328,000 after buying an additional 45 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

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.