Robert W. Baird Issues Pessimistic Forecast for Gartner (NYSE:IT) Stock Price

Gartner (NYSE:IT - Free Report) had its price objective reduced by Robert W. Baird from $605.00 to $557.00 in a research report released on Friday morning,Benzinga reports. They currently have an outperform rating on the information technology services provider's stock.

Several other research analysts have also recently weighed in on the company. Morgan Stanley decreased their target price on Gartner from $564.00 to $555.00 and set an "equal weight" rating for the company in a research note on Thursday, January 16th. Barclays raised shares of Gartner from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. The Goldman Sachs Group restated a "buy" rating on shares of Gartner in a report on Tuesday, February 4th. Wells Fargo & Company decreased their price target on shares of Gartner from $470.00 to $460.00 and set an "underweight" rating on the stock in a research report on Friday, January 10th. Finally, StockNews.com upgraded Gartner from a "hold" rating to a "buy" rating in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $546.63.

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Gartner Price Performance

Gartner stock traded up $1.53 during trading hours on Friday, hitting $431.91. 309,394 shares of the company traded hands, compared to its average volume of 561,589. Gartner has a 1-year low of $409.50 and a 1-year high of $584.01. The firm has a market cap of $33.18 billion, a P/E ratio of 26.94, a P/E/G ratio of 3.30 and a beta of 1.29. The firm's 50-day simple moving average is $502.37 and its two-hundred day simple moving average is $507.99. 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 (NYSE:IT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, beating analysts' consensus estimates of $3.22 by $2.23. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The business's revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the business earned $3.04 earnings per share. As a group, analysts forecast that Gartner will post 12.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Gartner

In related news, Director Eileen Serra sold 1,200 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the transaction, the director now directly owns 1,627 shares of the company's stock, 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 document filed with the SEC, which is accessible through the SEC website. Also, SVP John J. Rinello sold 90 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Company insiders own 3.60% of the company's stock.

Hedge Funds Weigh In On Gartner

A number of hedge funds have recently modified their holdings of the stock. Cary Street Partners Financial LLC purchased a new position in Gartner in the fourth quarter valued at about $27,000. Kestra Investment Management LLC bought a new stake in shares of Gartner in the 4th quarter valued at approximately $29,000. Itau Unibanco Holding S.A. increased its holdings in Gartner by 453.3% in the fourth 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 last quarter. SBI Securities Co. Ltd. bought a new position in Gartner during the fourth quarter valued at approximately $49,000. Finally, True Wealth Design LLC lifted its stake in Gartner by 2,350.0% in the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider's stock valued at $50,000 after acquiring an additional 94 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Gartner Company Profile

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.