Gartner (NYSE:IT) Price Target Lowered to $460.00 at Wells Fargo & Company

Gartner (NYSE:IT) had its target price trimmed by Wells Fargo & Company from $470.00 to $460.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has an underweight rating on the information technology services provider’s stock.

Several other research analysts also recently weighed in on IT. Deutsche Bank Aktiengesellschaft upped their target price on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $525.00 to $600.00 in a report on Friday. Robert W. Baird lifted their target price on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Morgan Stanley upped their price target on shares of Gartner from $560.00 to $564.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Finally, StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $551.88.

Gartner Trading Down 1.3 %

Gartner stock opened at $488.91 on Friday. The firm has a market cap of $37.71 billion, a PE ratio of 36.06, a P/E/G ratio of 3.18 and a beta of 1.33. Gartner has a 12 month low of $411.15 and a 12 month high of $559.00. The stock’s 50 day simple moving average is $510.05 and its two-hundred day simple moving average is $495.69. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.45 by $0.05. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the business earned $2.56 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. Analysts anticipate that Gartner will post 11.87 earnings per share for the current year.

Insiders Place Their Bets

In other Gartner news, Director James C. Smith sold 2,450 shares of Gartner stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $554.68, for a total transaction of $1,358,966.00. Following the completion of the sale, the director now directly owns 529,844 shares in the company, valued at $293,893,869.92. This trade represents a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Claire Herkes sold 411 shares of Gartner stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total transaction of $214,229.64. Following the completion of the sale, the executive vice president now owns 1,494 shares of the company’s stock, valued at $778,732.56. This trade represents a 21.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,583 shares of company stock valued at $19,241,974 over the last ninety days. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Gartner

Several institutional investors and hedge funds have recently modified their holdings of IT. Eastern Bank acquired a new position in Gartner in the 3rd quarter valued at about $26,000. Ashton Thomas Securities LLC purchased a new position in shares of Gartner in the third quarter valued at approximately $44,000. True Wealth Design LLC grew its holdings in shares of Gartner by 2,350.0% in the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock valued at $50,000 after purchasing an additional 94 shares in the last quarter. Fortitude Family Office LLC increased its stake in Gartner by 23.8% during the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after buying an additional 20 shares during the period. Finally, Asset Dedication LLC lifted its holdings in Gartner by 46.5% during the 3rd quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock worth $75,000 after buying an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Company Profile

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.