Gartner (NYSE:IT) Reaches New 1-Year Low - Should You Sell?

Key Points

• Gartner's share price fell to a new **52-week low**, reaching **$351.12** during trading, and subsequently closing at **$352.73**.
• Analysts have **lowered their price targets** for Gartner, with Barclays dropping theirs from **$510.00 to $475.00**, while Wells Fargo reduced theirs from **$400.00 to $345.00**.
• Gartner recently reported **earnings of $2.98** per share, exceeding estimates, with a revenue of **$1.54 billion**, indicating a **4.2% year-over-year increase**.

Gartner, Inc. (NYSE:IT - Get Free Report) hit a new 52-week low during trading on Tuesday . The stock traded as low as $351.12 and last traded at $352.73, with a volume of 60229 shares. The stock had previously closed at $352.47.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. UBS Group dropped their target price on shares of Gartner from $500.00 to $480.00 and set a "buy" rating for the company in a report on Tuesday, July 15th. Morgan Stanley lowered their price objective on shares of Gartner from $490.00 to $455.00 and set an "equal weight" rating for the company in a research report on Thursday. The Goldman Sachs Group cut their target price on shares of Gartner from $622.00 to $535.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Wells Fargo & Company decreased their target price on shares of Gartner from $400.00 to $345.00 and set an "underweight" rating on the stock in a research note on Friday, July 18th. Finally, Barclays lowered their price target on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating for the company in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $482.57.

Gartner Stock Down 2.2%

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 stock's fifty day simple moving average is $395.73 and its two-hundred day simple moving average is $439.06. The stock has a market capitalization of $25.48 billion, a P/E ratio of 20.56 and a beta of 1.19.

Gartner (NYSE:IT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, topping analysts' consensus estimates of $2.72 by $0.26. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Gartner had a net margin of 19.82% and a return on equity of 96.70%. Gartner's revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.93 earnings per share. As a group, research analysts expect that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insider Transactions at Gartner

In other news, CFO Craig Safian sold 3,415 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $450.17, for a total value 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. This represents a 4.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Akhil Jain sold 625 shares of Gartner stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $450.00, for a total value of $281,250.00. Following the completion of the transaction, the executive vice president directly owned 6,548 shares in the company, valued at approximately $2,946,600. This represents a 8.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,426 shares of company stock worth $2,430,327. 2.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IT. Cary Street Partners Financial LLC bought a new position in Gartner during the fourth quarter worth $27,000. Ransom Advisory Ltd acquired a new stake in Gartner during the 1st quarter worth about $29,000. Itau Unibanco Holding S.A. raised its position in shares of Gartner by 453.3% in the 4th quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider's stock worth $40,000 after acquiring an additional 68 shares in the last quarter. Olde Wealth Management LLC bought a new position in shares of Gartner in the 1st quarter worth about $42,000. Finally, Chilton Capital Management LLC acquired a new position in shares of Gartner in the 2nd quarter valued at about $47,000. 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.