Gartner (NYSE:IT) Price Target Lowered to $480.00 at UBS Group

Gartner (NYSE:IT - Get Free Report) had its price objective cut by UBS Group from $500.00 to $480.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the information technology services provider's stock. UBS Group's price objective points to a potential upside of 32.50% from the company's previous close.

A number of other equities research analysts also recently weighed in on the stock. Barclays reduced their price target on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Robert W. Baird reduced their price target on shares of Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. The Goldman Sachs Group reduced their price target on shares of Gartner from $622.00 to $535.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Wall Street Zen downgraded shares of Gartner from a "buy" rating to a "hold" rating in a research note on Friday, March 21st. Finally, Wells Fargo & Company reduced their price target on shares of Gartner from $401.00 to $400.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $513.67.

Gartner Stock Up 0.7%

IT traded up $2.41 during trading hours on Tuesday, hitting $362.28. 982,766 shares of the company's stock were exchanged, compared to its average volume of 520,715. Gartner has a 1-year low of $357.19 and a 1-year high of $584.01. The stock's 50-day moving average is $417.38 and its two-hundred day moving average is $449.98. The stock has a market cap of $27.88 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 2.42 and a beta of 1.19. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.64.

Gartner (NYSE:IT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, beating analysts' consensus estimates of $2.72 by $0.26. Gartner had a net margin of 19.82% and a return on equity of 96.70%. The firm had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.53 billion. During the same quarter last year, the company posted $2.93 earnings per share. The company's revenue for the quarter was up 4.2% compared to the same quarter last year. Sell-side analysts predict that Gartner will post 12.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Gartner

In other news, EVP Akhil Jain sold 625 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $450.00, for a total value of $281,250.00. Following the sale, the executive vice president directly owned 6,548 shares of the company's stock, valued at approximately $2,946,600. This represents a 8.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Robin B. Kranich sold 739 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $436.50, for a total transaction of $322,573.50. Following the completion of the sale, the executive vice president directly owned 20,464 shares in the company, valued at approximately $8,932,536. The trade was a 3.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,426 shares of company stock valued at $2,430,327. Insiders own 3.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Kendall Capital Management grew its position in Gartner by 1.4% during the second quarter. Kendall Capital Management now owns 7,806 shares of the information technology services provider's stock valued at $3,155,000 after acquiring an additional 110 shares during the last quarter. Patton Fund Management Inc. bought a new position in Gartner during the second quarter valued at approximately $214,000. Steph & Co. bought a new position in Gartner during the second quarter valued at approximately $121,000. Dakota Wealth Management grew its position in Gartner by 14.5% during the second quarter. Dakota Wealth Management now owns 16,958 shares of the information technology services provider's stock valued at $6,855,000 after acquiring an additional 2,142 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its position in Gartner by 1,767.1% during the second quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 6,404 shares of the information technology services provider's stock valued at $2,589,000 after acquiring an additional 6,061 shares during the last quarter. 91.51% of the stock is currently owned by 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.