Gartner (NYSE:IT) Reaches New 1-Year Low – Here’s What Happened

Gartner, Inc. (NYSE:ITGet Free Report) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $218.33 and last traded at $219.58, with a volume of 244582 shares. The stock had previously closed at $225.98.

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Here are the key news stories impacting Gartner this week:

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on IT. Wells Fargo & Company dropped their price objective on shares of Gartner from $231.00 to $218.00 and set an “underweight” rating on the stock in a report on Wednesday, November 5th. BMO Capital Markets dropped their price target on shares of Gartner from $272.00 to $254.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 5th. William Blair restated an “outperform” rating on shares of Gartner in a research note on Tuesday, October 21st. The Goldman Sachs Group lowered their target price on Gartner from $457.00 to $390.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Finally, UBS Group upped their price target on Gartner from $256.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, January 9th. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $309.67.

Read Our Latest Analysis on Gartner

Gartner Trading Down 1.6%

The firm has a market cap of $15.09 billion, a P/E ratio of 18.36 and a beta of 1.07. The stock has a 50 day simple moving average of $237.77 and a 200-day simple moving average of $252.99. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 4.42.

Gartner (NYSE:ITGet Free Report) last announced its earnings results on Tuesday, November 4th. The information technology services provider reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.35. Gartner had a net margin of 13.71% and a return on equity of 92.12%. The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Gartner has set its FY 2025 guidance at 12.650- EPS. On average, equities research analysts expect that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP John J. Rinello sold 220 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $229.57, for a total value of $50,505.40. Following the completion of the sale, the senior vice president owned 3,046 shares in the company, valued at approximately $699,270.22. The trade was a 6.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Claire Herkes sold 367 shares of Gartner stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $231.56, for a total value of $84,982.52. Following the completion of the transaction, the executive vice president owned 4,074 shares in the company, valued at $943,375.44. This represents a 8.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Gartner

Institutional investors and hedge funds have recently made changes to their positions in the stock. Physician Wealth Advisors Inc. raised its position in Gartner by 143.9% during the 4th quarter. Physician Wealth Advisors Inc. now owns 100 shares of the information technology services provider’s stock worth $25,000 after buying an additional 59 shares during the last quarter. Rakuten Securities Inc. boosted its stake in shares of Gartner by 1,980.0% in the fourth quarter. Rakuten Securities Inc. now owns 104 shares of the information technology services provider’s stock worth $26,000 after buying an additional 99 shares during the last quarter. Addison Advisors LLC acquired a new stake in Gartner during the second quarter worth about $27,000. Activest Wealth Management raised its position in Gartner by 11,600.0% during the fourth quarter. Activest Wealth Management now owns 117 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 116 shares in the last quarter. Finally, Eastern Bank lifted its holdings in Gartner by 236.8% in the fourth quarter. Eastern Bank now owns 128 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 90 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Company Profile

(Get Free Report)

Gartner, Inc is a global research and advisory firm that provides insights, advice and tools for leaders in IT, finance, HR, customer service and other business functions. Founded in 1979 and headquartered in Stamford, Connecticut, Gartner specializes in helping organizations make informed decisions about technology, operations and strategy through a combination of published research, advisory services, consulting, executive programs and events.

The company’s offerings include proprietary research reports, market forecasts, and analytical frameworks that are widely used by technology buyers and vendors.

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