Gartner (NYSE:IT) Stock Price Down 4.8% – Here’s Why

Gartner, Inc. (NYSE:IT) shares fell 4.8% during trading on Thursday . The company traded as low as $148.94 and last traded at $147.5420. 160,420 shares were traded during mid-day trading, a decline of 90% from the average session volume of 1,593,156 shares. The stock had previously closed at $154.91.

Analysts Set New Price Targets

A number of research firms have recently commented on IT. UBS Group increased their price objective on Gartner from $166.00 to $170.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Wells Fargo & Company dropped their price objective on Gartner from $150.00 to $140.00 and set an “underweight” rating on the stock in a report on Friday, March 27th. Weiss Ratings upgraded Gartner from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday. Morgan Stanley dropped their price objective on Gartner from $200.00 to $183.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada dropped their price objective on Gartner from $175.00 to $160.00 and set a “sector perform” rating on the stock in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $176.70.

Gartner Stock Down 2.9%

The business has a 50 day moving average of $155.40 and a 200-day moving average of $186.17. The stock has a market cap of $10.07 billion, a PE ratio of 14.83, a P/E/G ratio of 0.86 and a beta of 0.94. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 46.98.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, May 5th. The information technology services provider reported $3.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.99 by $0.33. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.51 billion. Gartner had a return on equity of 161.39% and a net margin of 11.44%.The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.98 EPS. Gartner has set its FY 2026 guidance at 13.250- EPS. Equities research analysts predict that Gartner, Inc. will post 13.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Gartner by 5.3% during the 3rd quarter. Vanguard Group Inc. now owns 10,082,185 shares of the information technology services provider’s stock worth $2,650,304,000 after buying an additional 509,902 shares during the last quarter. Bamco Inc. NY lifted its position in Gartner by 18.3% during the 3rd quarter. Bamco Inc. NY now owns 4,322,113 shares of the information technology services provider’s stock worth $1,136,154,000 after acquiring an additional 669,352 shares during the period. Capital International Investors lifted its position in Gartner by 28.3% during the 4th quarter. Capital International Investors now owns 4,004,093 shares of the information technology services provider’s stock worth $1,010,153,000 after acquiring an additional 884,250 shares during the period. State Street Corp lifted its position in Gartner by 2.8% during the 3rd quarter. State Street Corp now owns 3,510,206 shares of the information technology services provider’s stock worth $922,728,000 after acquiring an additional 96,809 shares during the period. Finally, Independent Franchise Partners LLP lifted its position in Gartner by 3.5% during the 4th quarter. Independent Franchise Partners LLP now owns 3,308,566 shares of the information technology services provider’s stock worth $834,685,000 after acquiring an additional 112,439 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Company Profile

Gartner, Inc is a global research and advisory firm that provides insights, advice and tools for leaders in IT, finance, HR, customer service and other business functions. Founded in 1979 and headquartered in Stamford, Connecticut, Gartner specializes in helping organizations make informed decisions about technology, operations and strategy through a combination of published research, advisory services, consulting, executive programs and events.

The company’s offerings include proprietary research reports, market forecasts, and analytical frameworks that are widely used by technology buyers and vendors.