Gartner (NYSE:IT) Given New $500.00 Price Target at UBS Group

Gartner (NYSE:IT - Get Free Report) had its price objective lowered by investment analysts at UBS Group from $525.00 to $500.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the information technology services provider's stock. UBS Group's price objective indicates a potential upside of 23.57% from the stock's previous close.

A number of other brokerages have also weighed in on IT. Wells Fargo & Company decreased their price objective on shares of Gartner from $401.00 to $400.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. The Goldman Sachs Group decreased their price target on Gartner from $622.00 to $535.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Barclays reduced their price objective on Gartner from $510.00 to $475.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Wall Street Zen cut shares of Gartner from a "buy" rating to a "hold" rating in a research note on Friday, March 21st. Finally, Robert W. Baird dropped their price target on shares of Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Gartner currently has a consensus rating of "Hold" and an average target price of $515.89.

Gartner Trading Down 1.1%

NYSE IT opened at $404.64 on Wednesday. The stock's fifty day moving average price is $423.92 and its 200-day moving average price is $464.99. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.64. The stock has a market cap of $31.15 billion, a P/E ratio of 25.18, a P/E/G ratio of 2.65 and a beta of 1.23. Gartner has a 12 month low of $366.05 and a 12 month high of $584.01.

Gartner (NYSE:IT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, beating the consensus estimate of $2.72 by $0.26. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Gartner had a net margin of 19.82% and a return on equity of 96.70%. Gartner's revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.93 EPS. As a group, equities analysts forecast that Gartner will post 12.5 EPS for the current fiscal year.

Insider Activity

In other news, EVP William James Wartinbee III sold 538 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $449.09, for a total value of $241,610.42. Following the completion of the sale, the executive vice president now directly owns 7,965 shares in the company, valued at $3,577,001.85. This represents a 6.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP John J. Rinello sold 109 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $436.35, for a total value of $47,562.15. Following the completion of the transaction, the senior vice president now directly owns 3,280 shares in the company, valued at approximately $1,431,228. This represents a 3.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,426 shares of company stock valued at $2,430,327 in the last quarter. 3.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Gartner

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IT. Brighton Jones LLC purchased a new stake in Gartner in the 4th quarter worth $309,000. CIBC Asset Management Inc grew its position in shares of Gartner by 4.5% during the fourth quarter. CIBC Asset Management Inc now owns 11,787 shares of the information technology services provider's stock worth $5,710,000 after purchasing an additional 512 shares in the last quarter. D.A. Davidson & CO. raised its stake in 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 valued at $551,000 after purchasing an additional 29 shares during the period. Kestra Investment Management LLC purchased a new position in Gartner in the 4th quarter worth approximately $29,000. Finally, Global Retirement Partners LLC boosted its stake in Gartner by 14.0% in the 4th quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider's stock worth $134,000 after purchasing an additional 34 shares during the period. 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.

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