Gartner (NYSE:IT) Reaches New 1-Year Low Following Analyst Downgrade

Gartner, Inc. (NYSE:IT - Get Free Report) shares reached a new 52-week low on Monday after Wells Fargo & Company lowered their price target on the stock from $400.00 to $345.00. Wells Fargo & Company currently has an underweight rating on the stock. Gartner traded as low as $352.29 and last traded at $353.18, with a volume of 148701 shares changing hands. The stock had previously closed at $355.40.

Several other equities analysts also recently issued reports on the stock. The Goldman Sachs Group decreased their price objective on shares of Gartner from $622.00 to $535.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. UBS Group decreased their price objective on shares of Gartner from $500.00 to $480.00 and set a "buy" rating on the stock in a report on Tuesday, July 15th. Barclays decreased their price objective on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Robert W. Baird dropped their target price on shares of Gartner from $605.00 to $557.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Finally, Wall Street Zen lowered shares of Gartner from a "buy" rating to a "hold" rating in a report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $507.56.

Insider Buying and Selling at Gartner

In other news, EVP William James Wartinbee III sold 538 shares of the 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 completion of the transaction, the executive vice president directly owned 7,965 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, SVP John J. Rinello sold 109 shares of the 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 transaction, the senior vice president owned 3,280 shares of the company's stock, 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. Over the last 90 days, insiders have sold 5,426 shares of company stock worth $2,430,327. Corporate insiders own 3.60% of the company's stock.

Hedge Funds Weigh In On Gartner

A number of hedge funds have recently modified their holdings of the business. Sompo Asset Management Co. Ltd. raised its holdings in shares of Gartner by 1.7% in the 4th quarter. Sompo Asset Management Co. Ltd. now owns 1,210 shares of the information technology services provider's stock valued at $586,000 after buying an additional 20 shares during the period. Cornerstone Advisory LLC grew its stake in Gartner by 0.8% during the 4th quarter. Cornerstone Advisory LLC now owns 2,803 shares of the information technology services provider's stock worth $1,443,000 after purchasing an additional 21 shares in the last quarter. TD Waterhouse Canada Inc. grew its stake in Gartner by 3.1% during the 4th quarter. TD Waterhouse Canada Inc. now owns 758 shares of the information technology services provider's stock worth $367,000 after purchasing an additional 23 shares in the last quarter. Connecticut Wealth Management LLC grew its stake in Gartner by 0.6% during the 4th quarter. Connecticut Wealth Management LLC now owns 4,604 shares of the information technology services provider's stock worth $2,230,000 after purchasing an additional 26 shares in the last quarter. Finally, Keel Point LLC grew its stake in Gartner by 5.5% during the 4th quarter. Keel Point LLC now owns 514 shares of the information technology services provider's stock worth $249,000 after purchasing an additional 27 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Gartner Price Performance

The stock has a market capitalization of $27.17 billion, a price-to-earnings ratio of 21.96, a PEG ratio of 2.31 and a beta of 1.19. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.09 and a current ratio of 1.09. The company has a 50 day moving average of $412.83 and a 200 day moving average of $447.12.

Gartner (NYSE:IT - Get Free Report) last posted its earnings results 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 firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Gartner had a return on equity of 96.70% and a net margin of 19.82%. Gartner's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.93 earnings per share. As a group, equities research analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current year.

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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