Gartner (NYSE:IT) Price Target Cut to $218.00 by Analysts at Wells Fargo & Company

Gartner (NYSE:IT) had its price target lowered by Wells Fargo & Company from $231.00 to $218.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has an underweight rating on the information technology services provider’s stock.

Several other equities research analysts also recently issued reports on IT. Weiss Ratings downgraded shares of Gartner from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. BMO Capital Markets reduced their target price on shares of Gartner from $409.00 to $272.00 and set a “market perform” rating for the company in a report on Wednesday, August 6th. Truist Financial started coverage on shares of Gartner in a report on Thursday, October 16th. They set a “buy” rating and a $300.00 target price for the company. The Goldman Sachs Group reduced their target price on shares of Gartner from $535.00 to $457.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Finally, Barclays reduced their target price on shares of Gartner from $270.00 to $260.00 and set an “equal weight” rating for the company in a report on Wednesday. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Gartner presently has a consensus rating of “Hold” and an average price target of $311.67.

Gartner Stock Up 4.4%

Shares of IT stock opened at $237.14 on Wednesday. The firm has a fifty day moving average of $249.01 and a 200-day moving average of $330.84. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61. Gartner has a 12-month low of $223.23 and a 12-month high of $584.01. The company has a market capitalization of $17.96 billion, a price-to-earnings ratio of 14.59 and a beta of 1.19.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, November 4th. The information technology services provider reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.35. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.52 billion. Gartner has set its FY 2025 guidance at 12.650- EPS. As a group, equities research analysts predict that Gartner will post 12.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jose M. Gutierrez purchased 417 shares of the business’s stock in a transaction on Monday, August 18th. The stock was purchased at an average price of $239.80 per share, for a total transaction of $99,996.60. Following the completion of the purchase, the director directly owned 2,080 shares in the company, valued at $498,784. The trade was a 25.08% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John J. Rinello sold 105 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $249.71, for a total transaction of $26,219.55. Following the completion of the sale, the senior vice president owned 3,225 shares of the company’s stock, valued at approximately $805,314.75. This represents a 3.15% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 3.60% of the company’s stock.

Institutional Trading of Gartner

A number of hedge funds have recently modified their holdings of IT. Addison Advisors LLC acquired a new stake in shares of Gartner during the 2nd quarter worth about $27,000. Ransom Advisory Ltd acquired a new stake in shares of Gartner during the 1st quarter worth about $29,000. True Wealth Design LLC lifted its stake in shares of Gartner by 1,130.8% during the 3rd quarter. True Wealth Design LLC now owns 160 shares of the information technology services provider’s stock worth $42,000 after buying an additional 147 shares during the last quarter. Chilton Capital Management LLC acquired a new stake in shares of Gartner during the 2nd quarter worth about $47,000. Finally, Versant Capital Management Inc lifted its stake in shares of Gartner by 1,284.6% during the 3rd quarter. Versant Capital Management Inc now owns 180 shares of the information technology services provider’s stock worth $47,000 after buying an additional 167 shares during the last quarter. Institutional investors and hedge funds 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.