Gartner Inc (IT) Downgraded by Zacks Investment Research

Gartner Inc (NYSE:IT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.

According to Zacks, “Gartner, Inc. is a research and advisory firm that helps clients understand technology and drive business growth. Gartner’s divisions consist of Gartner Research, Gartner Consulting, Gartner Measurement and Gartner Events. Gartner has the most comprehensive body of global research that reports on and analyzes the technologies that drive business and organizational success. Gartner Consulting leverages the company’s industry-leading research capabilities to deliver hands-on client support, from strategy to measurable results. “

Other equities analysts have also recently issued reports about the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $108.00 price target on shares of Gartner in a research note on Sunday, January 8th. Royal Bank of Canada raised Gartner from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $100.00 to $113.00 in a research note on Friday, January 6th. Barclays PLC raised Gartner from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $96.00 to $115.00 in a research note on Monday, January 9th. BMO Capital Markets raised Gartner from a “market perform” rating to an “outperform” rating and set a $105.00 price target on the stock in a research note on Friday, January 6th. Finally, Macquarie cut Gartner from an “outperform” rating to a “neutral” rating in a research note on Friday, January 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Gartner presently has a consensus rating of “Buy” and a consensus price target of $107.44.

Analyst Recommendations for Gartner (NYSE:IT)

Gartner (NYSE:IT) opened at 109.38 on Tuesday. The stock’s 50 day moving average price is $104.98 and its 200-day moving average price is $98.28. The firm has a market capitalization of $9.04 billion, a price-to-earnings ratio of 47.35 and a beta of 1.09. Gartner has a 12 month low of $84.54 and a 12 month high of $112.42.

Gartner (NYSE:IT) last announced its quarterly earnings results on Thursday, February 2nd. The company reported $0.97 EPS for the quarter, missing the Zacks’ consensus estimate of $0.98 by $0.01. The company earned $703.20 million during the quarter, compared to analysts’ expectations of $714.01 million. Gartner had a negative return on equity of 408.56% and a net margin of 7.57%. Gartner’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period last year, the firm earned $0.92 earnings per share. Equities analysts anticipate that Gartner will post $3.22 EPS for the current fiscal year.

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In other news, SVP Alwyn Dawkins sold 5,000 shares of Gartner stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $101.35, for a total value of $506,750.00. Following the sale, the senior vice president now directly owns 49,183 shares in the company, valued at approximately $4,984,697.05. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Eugene A. Hall sold 61,181 shares of Gartner stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $101.41, for a total value of $6,204,365.21. Following the completion of the sale, the chief executive officer now owns 1,173,566 shares in the company, valued at $119,011,328.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,466 shares of company stock worth $7,770,367. Corporate insiders own 4.40% of the company’s stock.

Several large investors have recently modified their holdings of IT. BlackRock Fund Advisors raised its stake in shares of Gartner by 3.8% in the third quarter. BlackRock Fund Advisors now owns 4,094,395 shares of the company’s stock worth $362,149,000 after buying an additional 150,639 shares in the last quarter. Polen Capital Management LLC raised its stake in shares of Gartner by 8.1% in the fourth quarter. Polen Capital Management LLC now owns 3,435,091 shares of the company’s stock worth $347,185,000 after buying an additional 258,452 shares in the last quarter. State Street Corp raised its stake in shares of Gartner by 0.6% in the fourth quarter. State Street Corp now owns 2,662,379 shares of the company’s stock worth $269,080,000 after buying an additional 14,672 shares in the last quarter. TimesSquare Capital Management LLC raised its stake in shares of Gartner by 7.6% in the third quarter. TimesSquare Capital Management LLC now owns 2,207,575 shares of the company’s stock worth $195,260,000 after buying an additional 155,225 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Gartner by 2.4% in the third quarter. JPMorgan Chase & Co. now owns 1,392,630 shares of the company’s stock worth $123,177,000 after buying an additional 33,035 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

About Gartner

Gartner, Inc is an information technology research and advisory company. The Company works with clients to research, analyze and interpret the business of information technology (IT), supply chain and marketing within the context of their individual roles. It operates in three segments: Research, Consulting and Events.

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