Gartner (IT) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Gartner (NYSE:IT) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

According to Zacks, “Gartner has underperformed the industry in the last three months. With modest revenue coming from the U.K., Gartner is likely to be stifled by the renegotiated deals and restrictions imposed on trade with other European Union members post the Brexit referendum. Brexit could further result in higher tariff and non-tariff barriers to trade between the U.K. and the European Union, lowering productivity of the company. Revenue from the federal government business is also exposed to lengthy approval times and other austerity measures, which undermine the long-term growth potential to some extent. Moreover, Gartner has to continually invest in value drivers in order to retain a competitive edge and fend off competition, which increases its operating costs and contract margins. However, the company has a large and diverse addressable market with low customer concentration that mitigates operating risks.”

Several other equities analysts also recently issued reports on IT. Goldman Sachs Group began coverage on shares of Gartner in a report on Wednesday, November 8th. They set a buy rating and a $146.00 price target for the company. BMO Capital Markets reissued a buy rating and set a $132.00 price target on shares of Gartner in a report on Wednesday, October 4th. Robert W. Baird reissued a buy rating and set a $135.00 price target on shares of Gartner in a report on Friday, November 3rd. Cantor Fitzgerald reissued a buy rating and set a $139.00 price target on shares of Gartner in a report on Thursday, November 2nd. Finally, Piper Jaffray Companies reissued a hold rating and set a $104.00 price target on shares of Gartner in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Gartner presently has a consensus rating of Buy and a consensus target price of $132.60.

Gartner (NYSE:IT) opened at $129.34 on Tuesday. Gartner has a 1-year low of $91.62 and a 1-year high of $130.02. The stock has a market cap of $11,539.87, a PE ratio of -380.41, a P/E/G ratio of 1.98 and a beta of 1.05. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 3.38.

Gartner (NYSE:IT) last announced its quarterly earnings results on Thursday, November 2nd. The information technology services provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.13. Gartner had a negative net margin of 1.25% and a positive return on equity of 57.60%. The firm had revenue of $828.09 million during the quarter, compared to the consensus estimate of $826.09 million. During the same period last year, the firm posted $0.58 EPS. The firm’s quarterly revenue was up 44.3% on a year-over-year basis. equities analysts predict that Gartner will post 3.42 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in IT. Advisory Services Network LLC raised its stake in shares of Gartner by 466.7% in the second quarter. Advisory Services Network LLC now owns 969 shares of the information technology services provider’s stock worth $120,000 after acquiring an additional 798 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in shares of Gartner by 9.5% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,182 shares of the information technology services provider’s stock worth $146,000 after acquiring an additional 103 shares during the last quarter. Commonwealth Bank of Australia raised its stake in shares of Gartner by 20.0% in the second quarter. Commonwealth Bank of Australia now owns 1,200 shares of the information technology services provider’s stock worth $148,000 after acquiring an additional 200 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of Gartner by 52.4% in the third quarter. Advisors Asset Management Inc. now owns 1,468 shares of the information technology services provider’s stock worth $183,000 after acquiring an additional 505 shares during the last quarter. Finally, Fieldpoint Private Securities LLC bought a new position in shares of Gartner in the third quarter worth about $185,000. 95.40% of the stock is owned by institutional investors.

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Gartner Company Profile

Gartner, Inc is an information technology research and advisory company. The Company works with clients to research, analyze and interpret the business of information technology (IT), supply chain and marketing within the context of their individual roles. It operates in three segments: Research, Consulting and Events.

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