Gartner (NYSE:IT) Stock Price Down 4.4% - What's Next?

Key Points

• Gartner's stock price dropped 4.4% during mid-day trading, reaching a low of $258.45 before closing at $251.24, with trading volume declining by 52% compared to its average.
• Analyst ratings show a mixed outlook, with three "Buy" ratings, six "Hold," and one "Sell," leading to a consensus rating of "Hold" with a target price of $357.44.
• Gartner reported earnings of $3.53 per share for the last quarter, beating estimates, though its revenue of $1.66 billion fell slightly short of expectations.

Gartner, Inc. (NYSE:IT - Get Free Report) dropped 4.4% during mid-day trading on Wednesday . The stock traded as low as $258.45 and last traded at $251.24. Approximately 445,700 shares changed hands during trading, a decline of 52% from the average daily volume of 932,949 shares. The stock had previously closed at $262.87.

Analyst Ratings Changes

IT has been the topic of a number of research analyst reports. Royal Bank Of Canada initiated coverage on shares of Gartner in a research note on Tuesday, September 9th. They issued a "sector perform" rating and a $263.00 target price on the stock. The Goldman Sachs Group lowered their price target on Gartner from $535.00 to $457.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Wells Fargo & Company decreased their target price on Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a research note on Wednesday, August 6th. BMO Capital Markets dropped their price target on Gartner from $409.00 to $272.00 and set a "market perform" rating on the stock in a research report on Wednesday, August 6th. Finally, Morgan Stanley lowered their price objective on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Gartner presently has a consensus rating of "Hold" and an average price target of $357.44.

Gartner Stock Performance

The stock has a market capitalization of $18.54 billion, a P/E ratio of 15.02 and a beta of 1.20. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61. The firm has a 50-day moving average of $264.73 and a 200 day moving average of $361.27.

Gartner (NYSE:IT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.38 by $0.15. The company had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.68 billion. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The business's revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.22 EPS. Gartner has set its FY 2025 guidance at 11.750- EPS. Research analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Jose M. Gutierrez bought 417 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was acquired at an average price of $239.80 per share, for a total transaction of $99,996.60. Following the transaction, the director directly owned 2,080 shares of the company's stock, valued at $498,784. This represents a 25.08% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP John J. Rinello sold 105 shares of Gartner stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $249.71, for a total value of $26,219.55. Following the transaction, the senior vice president directly owned 3,225 shares of the company's stock, valued at approximately $805,314.75. The trade was a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company's stock.

Institutional Trading of Gartner

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Gartner by 1.5% in the second quarter. Vanguard Group Inc. now owns 9,572,283 shares of the information technology services provider's stock valued at $3,869,308,000 after buying an additional 138,834 shares during the last quarter. State Street Corp raised its position in Gartner by 2.9% in the 2nd quarter. State Street Corp now owns 3,413,397 shares of the information technology services provider's stock worth $1,379,763,000 after purchasing an additional 96,172 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Gartner by 4.1% during the 2nd quarter. Geode Capital Management LLC now owns 2,258,233 shares of the information technology services provider's stock worth $910,481,000 after buying an additional 89,877 shares in the last quarter. Generation Investment Management LLP increased its stake in shares of Gartner by 16.5% in the 1st quarter. Generation Investment Management LLP now owns 1,341,342 shares of the information technology services provider's stock valued at $563,015,000 after buying an additional 189,514 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Gartner by 20.5% during the first quarter. JPMorgan Chase & Co. now owns 1,245,563 shares of the information technology services provider's stock valued at $522,813,000 after acquiring an additional 211,842 shares during the period. Institutional investors own 91.51% of the company's stock.

Gartner Company Profile

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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