Gartner, Inc. (IT) Cut to Neutral at Macquarie

Macquarie downgraded shares of Gartner, Inc. (NYSE:IT) from an outperform rating to a neutral rating in a research note released on Friday.

A number of other equities analysts have also recently issued reports on the company. RBC Capital Markets raised Gartner from a sector perform rating to an outperform rating and upped their target price for the stock from $100.00 to $113.00 in a report on Friday, January 6th. BMO Capital Markets upgraded Gartner from a market perform rating to an outperform rating and set a $105.00 price target on the stock in a research report on Friday, January 6th. Royal Bank Of Canada upgraded Gartner from a sector perform rating to an outperform rating and upped their price target for the company from $100.00 to $113.00 in a research report on Friday, January 6th. Finally, Zacks Investment Research lowered Gartner from a buy rating to a hold rating in a research report on Wednesday, January 4th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Gartner presently has a consensus rating of Buy and a consensus target price of $107.00.

Analyst Recommendations for Gartner (NYSE:IT)

Gartner (NYSE:IT) traded up 1.24% during midday trading on Friday, hitting $98.83. The stock had a trading volume of 471,866 shares. Gartner has a 52 week low of $77.80 and a 52 week high of $105.45. The stock has a market capitalization of $8.16 billion, a price-to-earnings ratio of 43.06 and a beta of 1.12. The company’s 50 day moving average price is $101.84 and its 200-day moving average price is $95.26.

Gartner (NYSE:IT) last issued its earnings results on Thursday, November 3rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. Gartner had a negative return on equity of 306.16% and a net margin of 7.73%. The business earned $574.10 million during the quarter, compared to analysts’ expectations of $562.68 million. During the same quarter in the prior year, the firm earned $0.45 EPS. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. Equities analysts anticipate that Gartner will post $2.95 earnings per share for the current fiscal year.

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In other news, SVP Alwyn Dawkins sold 2,600 shares of the stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $94.99, for a total value of $246,974.00. Following the completion of the sale, the senior vice president now directly owns 19,116 shares of the company’s stock, valued at $1,815,828.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 4.40% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Fiera Capital Corp bought a new stake in shares of Gartner during the second quarter valued at approximately $40,513,000. Polen Capital Management LLC increased its stake in shares of Gartner by 10.9% in the second quarter. Polen Capital Management LLC now owns 3,078,851 shares of the company’s stock worth $299,911,000 after buying an additional 303,499 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Gartner by 8.1% in the second quarter. BlackRock Fund Advisors now owns 3,943,756 shares of the company’s stock worth $384,161,000 after buying an additional 294,168 shares during the last quarter. Citadel Advisors LLC increased its stake in shares of Gartner by 2,385.5% in the third quarter. Citadel Advisors LLC now owns 305,960 shares of the company’s stock worth $27,063,000 after buying an additional 293,650 shares during the last quarter. Finally, EverPoint Asset Management LLC acquired a new stake in shares of Gartner during the second quarter worth approximately $28,429,000. 89.97% of the stock is owned by hedge funds and other institutional investors.

Gartner Company Profile

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