Gartner (NYSE:IT) Price Target Cut to $320.00 by Analysts at Barclays

Key Points

• Gartner had its price target significantly cut by Barclays from $475.00 to $320.00, maintaining an "overweight" rating, suggesting a potential upside of 32.49% from its current price.
• Multiple analysts reduced their price targets for Gartner, with UBS lowering it to $270.00 and Morgan Stanley to $455.00, reflecting a cautious outlook on the company.
• Institutional investors hold a substantial 91.51% of Gartner's stock, indicating strong confidence from larger investment groups despite recent price adjustments.

Gartner (NYSE:IT - Get Free Report) had its price objective decreased by investment analysts at Barclays from $475.00 to $320.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the information technology services provider's stock. Barclays's price target would suggest a potential upside of 32.49% from the company's current price.

Other analysts have also issued research reports about the stock. UBS Group reissued a "neutral" rating and issued a $270.00 price target (down previously from $480.00) on shares of Gartner in a report on Wednesday. Morgan Stanley lowered their price target on shares of Gartner from $490.00 to $455.00 and set an "equal weight" rating for the company in a report on Thursday, July 31st. BMO Capital Markets lowered their price target on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating for the company in a report on Wednesday. Wells Fargo & Company lowered their price target on shares of Gartner from $400.00 to $345.00 and set an "underweight" rating for the company in a report on Friday, July 18th. Finally, The Goldman Sachs Group lowered their price target on shares of Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $400.88.

Gartner Price Performance

Shares of NYSE IT traded down $2.39 during mid-day trading on Wednesday, hitting $241.54. 483,283 shares of the stock were exchanged, compared to its average volume of 729,501. The company has a market cap of $18.59 billion, a P/E ratio of 15.01 and a beta of 1.19. The stock's fifty day simple moving average is $387.48 and its two-hundred day simple moving average is $434.27. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.09 and a current ratio of 1.09. Gartner has a twelve month low of $231.00 and a twelve month high of $584.01.

Gartner (NYSE:IT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share for the quarter, topping the consensus estimate of $3.38 by $0.15. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. Gartner had a net margin of 19.82% and a return on equity of 96.70%. The company's revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the business posted $3.22 earnings per share. As a group, analysts forecast that Gartner will post 12.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other Gartner news, CFO Craig Safian sold 3,415 shares of Gartner stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $450.17, for a total transaction of $1,537,330.55. Following the completion of the sale, the chief financial officer owned 77,890 shares of the company's stock, valued at approximately $35,063,741.30. The trade was a 4.20% 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, EVP William James Wartinbee III sold 538 shares of Gartner stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $449.09, for a total transaction of $241,610.42. Following the sale, the executive vice president directly owned 7,965 shares of the company's stock, valued at $3,577,001.85. This represents a 6.33% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,578 shares of company stock valued at $2,060,191. Company insiders own 3.60% of the company's stock.

Hedge Funds Weigh In On Gartner

Institutional investors and hedge funds have recently made changes to their positions in the company. DAVENPORT & Co LLC grew its holdings in shares of Gartner by 11.5% in the 1st quarter. DAVENPORT & Co LLC now owns 921 shares of the information technology services provider's stock valued at $387,000 after buying an additional 95 shares during the period. Three Seasons Wealth LLC acquired a new position in shares of Gartner in the 4th quarter valued at $731,000. SG Americas Securities LLC grew its holdings in shares of Gartner by 3.6% in the 1st quarter. SG Americas Securities LLC now owns 42,389 shares of the information technology services provider's stock valued at $17,792,000 after buying an additional 1,484 shares during the period. Brighton Jones LLC acquired a new position in shares of Gartner in the 4th quarter valued at $309,000. Finally, HighPoint Advisor Group LLC grew its holdings in shares of Gartner by 3.6% in the 1st quarter. HighPoint Advisor Group LLC now owns 1,145 shares of the information technology services provider's stock valued at $482,000 after buying an additional 40 shares during the period. 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.

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