Gartner (NYSE:IT) Sets New 52-Week Low – What’s Next?

Gartner, Inc. (NYSE:IT) shares reached a new 52-week low during trading on Tuesday . The company traded as low as $409.00 and last traded at $413.19, with a volume of 1236924 shares. The stock had previously closed at $419.74.

Wall Street Analysts Forecast Growth

IT has been the subject of a number of research analyst reports. Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $525.00 to $600.00 in a research report on Friday, January 10th. UBS Group decreased their price objective 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 target price on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Wells Fargo & Company reduced their price target on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research report on Friday, January 10th. Finally, StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $536.63.

Gartner Price Performance

The company has a market cap of $31.74 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 3.30 and a beta of 1.29. The company’s 50 day moving average price is $492.25 and its 200 day moving average price is $505.01. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81.

Gartner (NYSE:IT) last announced 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. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter last year, the firm earned $3.04 earnings per share. The firm’s revenue was up 8.1% compared to the same quarter last year. Equities research analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current year.

Insiders Place Their Bets

In other 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 transaction of $47,745.90. Following the completion of the sale, the senior vice president now directly owns 3,259 shares in the company, valued at approximately $1,728,932.09. This trade represents a 2.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eileen Serra sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $489.77, for a total value of $587,724.00. Following the completion of the sale, the director now owns 1,627 shares in the company, valued at approximately $796,855.79. This represents a 42.45 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Czech National Bank increased its holdings in Gartner by 6.5% during 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 in the last quarter. Entropy Technologies LP purchased a new position in shares of Gartner during the 4th quarter worth approximately $366,000. D.A. Davidson & CO. raised its position in shares of Gartner by 2.6% during the 4th quarter. D.A. Davidson & CO. now owns 1,137 shares of the information technology services provider’s stock worth $551,000 after purchasing an additional 29 shares during the last quarter. Conestoga Capital Advisors LLC lifted its stake in 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 in the last quarter. Finally, Barclays PLC grew its holdings in Gartner by 8.6% during the 3rd quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock valued at $84,520,000 after buying an additional 13,205 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

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.