Gartner (NYSE:IT) Given New $510.00 Price Target at Barclays

Gartner (NYSE:IT) had its target price trimmed by Barclays from $600.00 to $510.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an overweight rating on the information technology services provider’s stock.

A number of other brokerages also recently issued reports on IT. Wells Fargo & Company decreased their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a report on Friday, January 10th. The Goldman Sachs Group reiterated a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. Morgan Stanley dropped their price target on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Finally, Robert W. Baird dropped their target price on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Gartner has a consensus rating of “Hold” and an average price target of $525.38.

Gartner Stock Performance

Shares of NYSE IT opened at $383.12 on Friday. The stock has a market cap of $29.43 billion, a price-to-earnings ratio of 23.90, a PEG ratio of 3.30 and a beta of 1.29. Gartner has a 12 month low of $382.23 and a 12 month high of $584.01. The company has a 50 day simple moving average of $482.71 and a two-hundred day simple moving average of $502.19. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, beating the consensus estimate of $3.22 by $2.23. The company 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 firm’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the company earned $3.04 earnings per share. As a group, analysts predict that Gartner will post 12.5 earnings per share for the current year.

Insider Transactions at Gartner

In related news, Director Eileen Serra sold 1,200 shares of Gartner stock in a transaction that occurred 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 transaction, the director now owns 1,627 shares in the company, valued at approximately $796,855.79. This trade represents a 42.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP John J. Rinello sold 90 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $530.51, for a total value 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 trade represents a 2.69 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Gartner

A number of institutional investors have recently bought and sold shares of the company. Cary Street Partners Financial LLC acquired a new stake in shares of Gartner during the 4th quarter worth approximately $27,000. Kestra Investment Management LLC acquired a new stake in Gartner during the fourth quarter worth $29,000. Itau Unibanco Holding S.A. raised its position 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 valued at $40,000 after purchasing an additional 68 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Gartner in the 4th quarter valued at $49,000. Finally, Promus Capital LLC purchased a new position in shares of Gartner during the 4th quarter worth $57,000. 91.51% of the stock is owned by hedge funds and other 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.