Wells Fargo & Company Cuts Gartner (NYSE:IT) Price Target to $401.00

Gartner (NYSE:IT - Free Report) had its target price reduced by Wells Fargo & Company from $488.00 to $401.00 in a research note published on Wednesday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the information technology services provider's stock.

Several other research firms have also recently commented on IT. The Goldman Sachs Group restated a "buy" rating on shares of Gartner in a report on Tuesday, February 4th. Robert W. Baird reduced their target price on Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Barclays dropped their price target on Gartner from $600.00 to $510.00 and set an "overweight" rating for the company in a research note on Friday, April 4th. StockNews.com lowered Gartner from a "buy" rating to a "hold" rating in a research note on Friday, March 21st. Finally, UBS Group cut their price target on shares of Gartner from $565.00 to $500.00 and set a "buy" rating on the stock in a report on Tuesday, March 25th. One equities research 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. Based on data from MarketBeat, Gartner has a consensus rating of "Hold" and a consensus target price of $518.00.

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Gartner Trading Up 2.0 %

Shares of Gartner stock traded up $7.81 during mid-day trading on Wednesday, hitting $399.84. 574,913 shares of the stock were exchanged, compared to its average volume of 449,470. The stock has a market capitalization of $30.71 billion, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 3.30 and a beta of 1.26. Gartner has a twelve month low of $366.05 and a twelve month high of $584.01. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The company has a 50-day simple moving average of $461.38 and a 200 day simple moving average of $496.34.

Gartner (NYSE:IT - Get Free Report) last announced its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.22 by $2.23. The firm 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%. Gartner's revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the business earned $3.04 earnings per share. Research analysts forecast that Gartner will post 12.5 EPS for the current year.

Insiders Place Their Bets

In other Gartner news, SVP John J. Rinello sold 90 shares of the stock in a transaction on 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 directly owns 3,259 shares in the company, valued at $1,728,932.09. This represents a 2.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eileen Serra sold 1,200 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the sale, the director now directly owns 1,627 shares of the company's stock, valued at $796,855.79. The trade was 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.

Hedge Funds Weigh In On Gartner

Hedge funds have recently bought and sold shares of the company. Czech National Bank increased its holdings in shares of Gartner by 6.5% in the 4th quarter. Czech National Bank now owns 16,725 shares of the information technology services provider's stock valued at $8,103,000 after acquiring an additional 1,028 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Gartner in the 4th quarter worth about $366,000. D.A. Davidson & CO. lifted its position in shares of Gartner by 2.6% in the 4th quarter. D.A. Davidson & CO. now owns 1,137 shares of the information technology services provider's stock worth $551,000 after buying an additional 29 shares during the last quarter. Conestoga Capital Advisors LLC boosted its holdings in shares of Gartner by 1.5% in the 4th quarter. Conestoga Capital Advisors LLC now owns 31,626 shares of the information technology services provider's stock valued at $15,322,000 after buying an additional 480 shares during the period. Finally, Barclays PLC raised its stake in Gartner by 8.6% during the third quarter. Barclays PLC now owns 166,787 shares of the information technology services provider's stock worth $84,520,000 after acquiring an additional 13,205 shares during the period. 91.51% of the stock is currently 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.