Barclays Cuts Gartner (NYSE:IT) Price Target to $475.00

Gartner (NYSE:IT - Free Report) had its price objective reduced by Barclays from $510.00 to $475.00 in a report issued on Monday morning,Benzinga reports. Barclays currently has an overweight rating on the information technology services provider's stock.

IT has been the subject of several other reports. UBS Group lowered their target price on Gartner from $565.00 to $500.00 and set a "buy" rating for the company in a report on Tuesday, March 25th. Robert W. Baird lowered their price objective on Gartner from $605.00 to $557.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. The Goldman Sachs Group reiterated a "buy" rating on shares of Gartner in a research note on Tuesday, February 4th. StockNews.com lowered shares of Gartner from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Finally, Wells Fargo & Company cut their price objective on shares of Gartner from $488.00 to $401.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Gartner currently has a consensus rating of "Hold" and a consensus price target of $513.63.

Gartner Stock Performance

NYSE:IT traded down $6.37 during trading hours on Monday, reaching $411.48. 86,425 shares of the stock were exchanged, compared to its average volume of 450,465. The stock has a market capitalization of $31.61 billion, a P/E ratio of 25.74, a P/E/G ratio of 3.30 and a beta of 1.26. The firm has a 50 day simple moving average of $439.79 and a 200-day simple moving average of $489.91. 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 52 week low of $366.05 and a 52 week high of $584.01.

Gartner (NYSE:IT - Get Free Report) last announced its quarterly earnings data 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. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The firm had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.69 billion. During the same period last year, the business posted $3.04 earnings per share. The firm's revenue for the quarter was up 8.1% on a year-over-year basis. As a group, sell-side analysts forecast that Gartner will post 12.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Gartner news, Director Eileen Serra sold 1,200 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $489.77, for a total value of $587,724.00. Following the sale, the director now directly owns 1,627 shares in the company, valued at approximately $796,855.79. The trade was a 42.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John J. Rinello sold 90 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction 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. This trade represents a 2.69 % decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is owned by insiders.

Institutional Trading of Gartner

A number of large investors have recently added to or reduced their stakes in IT. Cary Street Partners Financial LLC acquired a new position in shares of Gartner in the 4th quarter worth $27,000. Kestra Investment Management LLC purchased a new position in Gartner in the 4th quarter worth about $29,000. Itau Unibanco Holding S.A. raised its holdings in Gartner by 453.3% during the 4th quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider's stock worth $40,000 after buying an additional 68 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Gartner during the fourth quarter valued at about $49,000. Finally, Promus Capital LLC acquired a new position in shares of Gartner in the fourth quarter worth about $57,000. 91.51% of the stock is currently 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.