Gartner, Inc. (IT) Stock Rating Lowered by Zacks Investment Research
Gartner, Inc. (NYSE:IT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
According to Zacks, “Gartner reported strong third-quarter 2017 results with healthy growth in non-GAAP revenues and earnings that beat the respective Zacks Consensus Estimates. With a diligent execution of operational plans, Gartner has recorded double-digit growth in key metrics for over a decade. The company has a vast, untapped market opportunity worth an estimated $61 billion. The acquisition of CEB further reinforces Gartner’s market strength and is likely to be accretive in the future. The company has also outperformed the industry year to date. However, revenue from the federal government business is exposed to lengthy approval times and other austerity measures, which undermine the long-term growth potential to some extent. In addition, 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.”
Several other research analysts have also issued reports on the company. Morgan Stanley increased their price target on Gartner from $118.00 to $120.00 and gave the stock an “equal weight” rating in a report on Monday, October 23rd. BMO Capital Markets reiterated an “outperform” rating and issued a $132.00 price target (down previously from $137.00) on shares of Gartner in a report on Monday, August 14th. Royal Bank Of Canada reiterated a “top pick” rating and issued a $142.00 price target (up previously from $130.00) on shares of Gartner in a report on Friday, July 21st. Piper Jaffray Companies restated a “hold” rating and issued a $105.00 target price on shares of Gartner in a report on Thursday, August 31st. Finally, Credit Suisse Group restated an “outperform” rating and issued a $138.00 target price (up previously from $130.00) on shares of Gartner in a report on Wednesday, August 9th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $129.50.
Shares of Gartner (IT) traded down $1.68 during trading on Friday, hitting $118.66. The company had a trading volume of 833,633 shares, compared to its average volume of 659,656. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 3.68. The company has a market cap of $10,750.24, a P/E ratio of 38.28, a price-to-earnings-growth ratio of 2.17 and a beta of 1.08.
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, topping the consensus estimate of $0.52 by $0.13. The business had revenue of $828.09 million for the quarter, compared to analyst estimates of $826.09 million. Gartner had a positive return on equity of 79.86% and a negative net margin of 1.25%. The company’s quarterly revenue was up 44.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.58 earnings per share. equities analysts predict that Gartner will post 3.42 EPS for the current year.
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In other Gartner news, SVP Robin B. Kranich sold 7,487 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $120.08, for a total value of $899,038.96. Following the completion of the sale, the senior vice president now directly owns 21,298 shares of the company’s stock, valued at $2,557,463.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Alwyn Dawkins sold 1,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $118.62, for a total value of $118,620.00. Following the completion of the sale, the senior vice president now directly owns 27,137 shares of the company’s stock, valued at $3,218,990.94. The disclosure for this sale can be found here. Insiders have sold 23,363 shares of company stock valued at $2,775,387 over the last ninety days. 4.30% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in IT. Advisory Services Network LLC increased its position in 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 buying an additional 798 shares during the last quarter. Benjamin F. Edwards & Company Inc. bought a new position in shares of Gartner in the second quarter worth $124,000. Bronfman E.L. Rothschild L.P. boosted its holdings 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 period. Commonwealth Bank of Australia boosted its holdings 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 period. Finally, Parkwood LLC bought a new position in shares of Gartner in the third quarter worth $201,000. 92.14% of the stock is owned by institutional investors and hedge funds.
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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