Gartner (NYSE:IT) Shares Down 6.5%

Gartner, Inc. (NYSE:IT)’s stock price traded down 6.5% during mid-day trading on Tuesday . The company traded as low as $414.17 and last traded at $419.68. 269,624 shares traded hands during trading, a decline of 30% from the average session volume of 387,302 shares. The stock had previously closed at $448.65.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. BMO Capital Markets raised their price objective on Gartner from $444.00 to $450.00 and gave the company a “market perform” rating in a research note on Thursday, February 8th. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. Robert W. Baird reduced their price objective on Gartner from $536.00 to $517.00 and set an “outperform” rating on the stock in a research note on Wednesday. UBS Group cut their target price on Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Morgan Stanley raised their target price on Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $477.50.

Gartner Stock Performance

The company has a debt-to-equity ratio of 3.60, a quick ratio of 0.91 and a current ratio of 0.91. The business has a 50-day moving average price of $463.85 and a 200 day moving average price of $439.90. The stock has a market capitalization of $32.93 billion, a P/E ratio of 42.03, a PEG ratio of 3.59 and a beta of 1.32.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.40. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Gartner had a return on equity of 147.74% and a net margin of 13.35%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.88 EPS. As a group, sell-side analysts forecast that Gartner, Inc. will post 11.73 EPS for the current fiscal year.

Insider Activity at Gartner

In other Gartner news, EVP Valentin Sribar sold 682 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $453.00, for a total transaction of $308,946.00. Following the completion of the sale, the executive vice president now directly owns 12,269 shares in the company, valued at approximately $5,557,857. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director James C. Smith sold 5,000 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $455.00, for a total value of $2,275,000.00. Following the completion of the sale, the director now directly owns 638,235 shares in the company, valued at approximately $290,396,925. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Valentin Sribar sold 682 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $453.00, for a total value of $308,946.00. Following the completion of the sale, the executive vice president now owns 12,269 shares of the company’s stock, valued at $5,557,857. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,952 shares of company stock valued at $10,598,070. 3.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. BKM Wealth Management LLC purchased a new stake in Gartner in the 4th quarter worth about $26,000. Frazier Financial Advisors LLC purchased a new position in shares of Gartner during the fourth quarter worth approximately $27,000. MCF Advisors LLC purchased a new position in shares of Gartner during the fourth quarter worth approximately $27,000. AdvisorNet Financial Inc increased its position in shares of Gartner by 59.5% during the fourth quarter. AdvisorNet Financial Inc now owns 67 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 25 shares during the period. Finally, DSM Capital Partners LLC purchased a new position in shares of Gartner during the fourth quarter worth approximately $32,000. Institutional investors 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.