Gartner (NYSE:IT) Given New $510.00 Price Target at UBS Group

Gartner (NYSE:IT) had its price target cut by UBS Group from $550.00 to $510.00 in a report published on Wednesday, Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.

IT has been the subject of several other research reports. Robert W. Baird reduced their price target on shares of Gartner from $536.00 to $517.00 and set an outperform rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Gartner in a research report on Tuesday, April 16th. They issued a hold rating and a $507.00 price target for the company. Morgan Stanley upped their price target on shares of Gartner from $421.00 to $446.00 and gave the company an equal weight rating in a research report on Tuesday, February 6th. BMO Capital Markets upped their price target on shares of Gartner from $444.00 to $450.00 and gave the company a market perform rating in a research report on Thursday, February 8th. Finally, StockNews.com downgraded shares of Gartner from a buy rating to a hold rating in a research report on Saturday, February 10th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Gartner currently has a consensus rating of Moderate Buy and a consensus target price of $474.50.

Gartner Trading Up 2.3 %

NYSE IT opened at $428.64 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.42. Gartner has a 52 week low of $295.43 and a 52 week high of $486.54. The stock has a market capitalization of $33.42 billion, a PE ratio of 42.65, a price-to-earnings-growth ratio of 3.44 and a beta of 1.32. The firm has a 50 day moving average of $462.52 and a two-hundred day moving average of $440.89.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.40. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.47 billion. Gartner had a net margin of 13.35% and a return on equity of 141.55%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.88 EPS. As a group, research analysts expect that Gartner will post 11.55 EPS for the current fiscal year.

Insider Activity at Gartner

In related news, Director James C. Smith sold 10,000 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $459.68, for a total transaction of $4,596,800.00. Following the sale, the director now owns 623,235 shares of the company’s stock, valued at $286,488,664.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Gartner news, Director James C. Smith sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $459.68, for a total value of $4,596,800.00. Following the sale, the director now directly owns 623,235 shares of the company’s stock, valued at approximately $286,488,664.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Claire Herkes sold 1,460 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $475.76, for a total value of $694,609.60. Following the completion of the sale, the executive vice president now directly owns 2,842 shares in the company, valued at $1,352,109.92. The disclosure for this sale can be found here. Insiders have sold a total of 22,952 shares of company stock valued at $10,598,070 over the last quarter. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Gartner

A number of large investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in Gartner in the fourth quarter valued at approximately $388,781,000. First Trust Advisors LP grew its position in shares of Gartner by 830.4% during the fourth quarter. First Trust Advisors LP now owns 514,230 shares of the information technology services provider’s stock worth $231,974,000 after buying an additional 458,963 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Gartner by 30.3% during the third quarter. Principal Financial Group Inc. now owns 1,565,046 shares of the information technology services provider’s stock worth $537,766,000 after buying an additional 364,128 shares in the last quarter. American Century Companies Inc. grew its position in shares of Gartner by 888.4% during the third quarter. American Century Companies Inc. now owns 300,106 shares of the information technology services provider’s stock worth $103,119,000 after buying an additional 269,744 shares in the last quarter. Finally, Eagle Asset Management Inc. acquired a new stake in shares of Gartner during the third quarter worth approximately $83,588,000. 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.