Barclays Reiterates "Equal Weight" Rating for Gartner (NYSE:IT)

Key Points

• Gartner was downgraded by Barclays from a "strong-buy" to a "hold" rating, reflecting a broader range of opinions among analysts regarding the stock.
• Several brokerages have adjusted their price targets for Gartner, with estimates ranging from $225.00 to $457.00, indicating mixed sentiment on the stock's future performance.
• Gartner's recent earnings report showed a 5.7% increase in revenue compared to the previous year, though earnings per share slightly exceeded analyst expectations.

Gartner (NYSE:IT - Get Free Report)'s stock had its "equal weight" rating restated by investment analysts at Barclays in a report released on Wednesday, MarketBeat Ratings reports. They presently have a $270.00 target price on the information technology services provider's stock, down from their previous target price of $320.00. Barclays's price target points to a potential upside of 7.48% from the stock's current price.

Several other equities research analysts also recently weighed in on IT. Morgan Stanley set a $307.00 target price on shares of Gartner in a research note on Monday, October 13th. William Blair restated an "outperform" rating on shares of Gartner in a research note on Tuesday. The Goldman Sachs Group lowered their target price on shares of Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Wells Fargo & Company lowered their price objective on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a research note on Wednesday, August 6th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Gartner in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $346.20.

Gartner Stock Performance

Shares of IT stock opened at $251.21 on Wednesday. The firm has a market cap of $19.03 billion, a price-to-earnings ratio of 15.46 and a beta of 1.20. Gartner has a 52-week low of $223.65 and a 52-week high of $584.01. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61. The company's 50 day moving average is $248.34 and its 200 day moving average is $342.06.

Gartner (NYSE:IT - Get Free Report) last announced its earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share for the quarter, beating the consensus estimate of $3.38 by $0.15. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. Gartner had a net margin of 19.71% and a return on equity of 82.63%. Gartner's revenue was up 5.7% compared to the same quarter last year. During the same period last year, the firm earned $3.22 earnings per share. Gartner has set its FY 2025 guidance at 11.750- EPS. On average, sell-side analysts anticipate that Gartner will post 12.5 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP John J. Rinello sold 105 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $249.71, for a total transaction of $26,219.55. Following the completion of the transaction, the senior vice president directly owned 3,225 shares in the company, valued at $805,314.75. The trade was a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jose M. Gutierrez acquired 417 shares of the business's stock in a transaction on Monday, August 18th. The stock was purchased at an average cost of $239.80 per share, with a total value of $99,996.60. Following the acquisition, the director directly owned 2,080 shares of the company's stock, valued at $498,784. This represents a 25.08% increase in their position. The disclosure for this purchase can be found here. Insiders own 2.30% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IT. Brighton Jones LLC purchased a new position in Gartner in the fourth quarter valued at $309,000. Lecap Asset Management Ltd. increased its holdings in Gartner by 360.5% in the first quarter. Lecap Asset Management Ltd. now owns 3,877 shares of the information technology services provider's stock valued at $1,627,000 after buying an additional 3,035 shares in the last quarter. Board of the Pension Protection Fund increased its stake in shares of Gartner by 58.3% during the first quarter. Board of the Pension Protection Fund now owns 1,900 shares of the information technology services provider's stock worth $798,000 after purchasing an additional 700 shares in the last quarter. Bartlett & CO. Wealth Management LLC increased its stake in shares of Gartner by 57.5% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 167 shares of the information technology services provider's stock worth $70,000 after purchasing an additional 61 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Gartner by 16.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,375 shares of the information technology services provider's stock worth $3,921,000 after purchasing an additional 1,293 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

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.