TheStreet lowered shares of Gartner (NYSE:IT) from a b rating to a c+ rating in a report issued on Thursday.
IT has been the subject of several other reports. ValuEngine upgraded Gartner from a hold rating to a buy rating in a research report on Tuesday, July 10th. BMO Capital Markets restated a buy rating and issued a $161.00 target price (up from $147.00) on shares of Gartner in a report on Friday, August 31st. Morgan Stanley set a $144.00 target price on Gartner and gave the company a hold rating in a report on Monday, October 15th. Piper Jaffray Companies cut Gartner from a neutral rating to an underweight rating in a report on Friday. Finally, Bank of America started coverage on Gartner in a report on Monday, October 22nd. They issued a buy rating for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $148.73.
Shares of IT traded up $0.15 during trading hours on Thursday, hitting $142.03. 1,281,503 shares of the stock were exchanged, compared to its average volume of 945,732. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.64 and a current ratio of 0.64. Gartner has a 12-month low of $111.57 and a 12-month high of $161.21. The stock has a market capitalization of $12.90 billion, a price-to-earnings ratio of 37.67, a PEG ratio of 2.55 and a beta of 1.23.
Gartner (NYSE:IT) last issued its quarterly earnings results on Thursday, November 1st. The information technology services provider reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.23. Gartner had a return on equity of 36.01% and a net margin of 3.74%. The firm had revenue of $922.00 million during the quarter, compared to analysts’ expectations of $919.96 million. During the same period in the previous year, the business earned $0.65 earnings per share. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, analysts predict that Gartner will post 3.72 earnings per share for the current year.
In other Gartner news, CEO Eugene A. Hall sold 38,995 shares of the company’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $139.26, for a total value of $5,430,443.70. Following the completion of the sale, the chief executive officer now directly owns 1,173,882 shares in the company, valued at approximately $163,474,807.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Robin B. Kranich sold 4,000 shares of the company’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $140.09, for a total value of $560,360.00. Following the completion of the sale, the executive vice president now owns 16,916 shares of the company’s stock, valued at $2,369,762.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,306 shares of company stock valued at $7,795,227. 4.30% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mn Services Vermogensbeheer B.V. grew its holdings in shares of Gartner by 9.2% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 15,380 shares of the information technology services provider’s stock worth $2,438,000 after purchasing an additional 1,300 shares during the period. BP PLC purchased a new position in shares of Gartner during the 3rd quarter worth $1,743,000. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Gartner by 21.8% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 3,660 shares of the information technology services provider’s stock worth $580,000 after purchasing an additional 654 shares during the period. Comerica Bank grew its holdings in shares of Gartner by 12.1% during the 3rd quarter. Comerica Bank now owns 30,324 shares of the information technology services provider’s stock worth $4,439,000 after purchasing an additional 3,269 shares during the period. Finally, Strategy Asset Managers LLC purchased a new position in shares of Gartner during the 3rd quarter worth $3,045,000.
Gartner Company Profile
Gartner, Inc operates as a research and advisory company. It operates through four segments: Research, Consulting, Events, and Talent Assessment & Other. The Research segment offers objective insights and advice on the priorities of various leaders in a range of functional areas of the enterprise through research and other reports, briefings, proprietary tools, access to our analysts, peer networking services, and membership programs that enable clients to make better decisions; and practice and talent management research insights in various business functions, such as human resources, sales, legal, and finance.
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