Piper Jaffray Companies Lowers Gartner (IT) to Underweight

Piper Jaffray Companies downgraded shares of Gartner (NYSE:IT) from a neutral rating to an underweight rating in a report issued on Friday, Marketbeat.com reports.

Other equities analysts have also issued reports about the stock. Morgan Stanley upped their target price on shares of Gartner from $133.00 to $140.00 and gave the stock a $140.13 rating in a research note on Wednesday, July 18th. TheStreet raised shares of Gartner from a c rating to a b rating in a research note on Wednesday, August 1st. BMO Capital Markets reaffirmed a buy rating and issued a $161.00 target price (up from $147.00) on shares of Gartner in a research note on Friday, August 31st. Barclays reaffirmed a buy rating and issued a $155.00 target price on shares of Gartner in a research note on Sunday, August 12th. Finally, Bank of America initiated coverage on shares of Gartner in a research note on Monday, October 22nd. They issued a buy rating for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $147.00.

Shares of IT stock opened at $140.85 on Friday. Gartner has a 12-month low of $111.57 and a 12-month high of $161.21. The firm has a market capitalization of $12.90 billion, a PE ratio of 42.55, a PEG ratio of 2.55 and a beta of 1.23. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.66 and a quick ratio of 0.66.

Gartner (NYSE:IT) last announced its earnings results on Thursday, November 1st. The information technology services provider reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.23. The firm had revenue of $922.00 million during the quarter, compared to analyst estimates of $919.96 million. Gartner had a net margin of 3.74% and a return on equity of 36.22%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.65 EPS. Equities analysts expect that Gartner will post 3.72 EPS for the current fiscal year.

In other news, CEO Eugene A. Hall sold 38,995 shares of the company’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $139.26, for a total value of $5,430,443.70. Following the sale, the chief executive officer now directly owns 1,173,882 shares of the company’s stock, valued at approximately $163,474,807.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Alwyn Dawkins sold 566 shares of the company’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $139.69, for a total transaction of $79,064.54. Following the completion of the sale, the executive vice president now directly owns 30,254 shares in the company, valued at $4,226,181.26. The disclosure for this sale can be found here. Insiders have sold a total of 51,306 shares of company stock worth $7,234,867 over the last three months. Insiders own 4.00% of the company’s stock.

Several hedge funds have recently modified their holdings of IT. Bank of America Corp DE raised its holdings in shares of Gartner by 175.0% in the 2nd quarter. Bank of America Corp DE now owns 1,370,511 shares of the information technology services provider’s stock valued at $182,142,000 after purchasing an additional 872,182 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Gartner by 22.6% in the 1st quarter. Principal Financial Group Inc. now owns 3,589,077 shares of the information technology services provider’s stock valued at $422,148,000 after purchasing an additional 662,107 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Gartner by 11.6% in the 2nd quarter. Janus Henderson Group PLC now owns 5,238,694 shares of the information technology services provider’s stock valued at $696,223,000 after purchasing an additional 543,074 shares during the period. First Trust Advisors LP raised its holdings in shares of Gartner by 223.9% in the 3rd quarter. First Trust Advisors LP now owns 231,500 shares of the information technology services provider’s stock valued at $36,693,000 after purchasing an additional 160,018 shares during the period. Finally, Polen Capital Management LLC raised its holdings in shares of Gartner by 1.7% in the 2nd quarter. Polen Capital Management LLC now owns 5,487,422 shares of the information technology services provider’s stock valued at $729,278,000 after purchasing an additional 93,895 shares during the period.

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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Analyst Recommendations for Gartner (NYSE:IT)

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