Gartner (NYSE:IT) Stock Price Down 5.7% - Here's Why

Key Points

• Gartner's stock price dropped 5.7% during mid-day trading, with a recent trading price of $232.25 following a close of $246.28.
• Several brokerages have reduced their price targets for Gartner, with Wells Fargo cutting theirs from $345.00 to $225.00 and Morgan Stanley from $455.00 to $322.00, reflecting increasing bearish sentiment.
• Despite the decline, Gartner reported earnings of $3.53 per share, surpassing expectations and showing a 5.7% year-over-year revenue increase, though revenue was slightly below analyst estimates.

Gartner, Inc. (NYSE:IT - Get Free Report)'s stock price fell 5.7% during mid-day trading on Wednesday . The stock traded as low as $232.45 and last traded at $232.25. 463,252 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 848,118 shares. The stock had previously closed at $246.28.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IT. Wells Fargo & Company reduced their price target on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a research note on Wednesday, August 6th. Royal Bank Of Canada assumed coverage on Gartner in a research report on Tuesday. They set a "sector perform" rating and a $263.00 price target on the stock. UBS Group reissued a "neutral" rating and issued a $270.00 price target (down from $480.00) on shares of Gartner in a report on Wednesday, August 6th. 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. Finally, BMO Capital Markets cut their target price on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating for the company 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 stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $357.44.

Gartner Trading Down 5.4%

The company has a market cap of $17.64 billion, a PE ratio of 14.33 and a beta of 1.20. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.11 and a current ratio of 1.11. The company has a 50 day simple moving average of $301.83 and a two-hundred day simple moving average of $384.94.

Gartner (NYSE:IT - Get Free Report) last issued its earnings results 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 for the quarter, compared to analyst estimates of $1.68 billion. Gartner had a return on equity of 82.63% and a net margin of 19.71%.The business's revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.22 EPS. Gartner has set its FY 2025 guidance at 11.750- EPS. Sell-side analysts forecast that Gartner, Inc. will post 12.5 EPS for the current year.

Insider Buying and Selling

In other Gartner news, Director Jose M. Gutierrez acquired 417 shares of Gartner stock in a transaction dated Monday, August 18th. The stock was bought at an average cost of $239.80 per share, with a total value of $99,996.60. Following the completion of the transaction, the director owned 2,080 shares of the company's stock, valued at $498,784. The trade was a 25.08% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John J. Rinello sold 105 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $249.71, for a total transaction of $26,219.55. Following the transaction, the senior vice president owned 3,225 shares in the company, valued at approximately $805,314.75. The trade was a 3.15% decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of IT. Brighton Jones LLC acquired a new stake in shares of Gartner during the fourth quarter worth approximately $309,000. Focus Partners Wealth increased its position in Gartner by 5.0% in the fourth quarter. Focus Partners Wealth now owns 3,348 shares of the information technology services provider's stock worth $1,694,000 after purchasing an additional 159 shares during the period. Jefferies Financial Group Inc. raised its holdings in Gartner by 982.9% during the 4th quarter. Jefferies Financial Group Inc. now owns 10,851 shares of the information technology services provider's stock worth $5,257,000 after purchasing an additional 9,849 shares during the last quarter. Lazard Asset Management LLC lifted its position in Gartner by 3,448.0% during the 4th quarter. Lazard Asset Management LLC now owns 13,021 shares of the information technology services provider's stock valued at $6,308,000 after purchasing an additional 12,654 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Gartner by 2.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,106 shares of the information technology services provider's stock valued at $6,834,000 after purchasing an additional 392 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

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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