Gartner (NYSE:IT) Trading Down 9.6% – Here’s What Happened

Gartner, Inc. (NYSE:IT)’s stock price traded down 9.6% during trading on Thursday . The stock traded as low as $151.22 and last traded at $149.6820. Approximately 245,098 shares changed hands during trading, a decline of 84% from the average session volume of 1,554,965 shares. The stock had previously closed at $165.65.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IT. UBS Group decreased their target price on shares of Gartner from $170.00 to $164.00 and set a “neutral” rating for the company in a research note on Friday, June 12th. The Goldman Sachs Group set a $162.00 price objective on Gartner in a research note on Tuesday, May 5th. Morgan Stanley dropped their target price on Gartner from $183.00 to $173.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. Wells Fargo & Company cut their target price on Gartner from $140.00 to $120.00 and set an “underweight” rating on the stock in a research note on Wednesday, June 24th. Finally, Royal Bank Of Canada lowered their price target on Gartner from $175.00 to $160.00 and set a “sector perform” rating for the company in a research 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 given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $173.10.

Gartner Trading Down 9.1%

The stock has a fifty day simple moving average of $144.89 and a 200 day simple moving average of $160.68. The company has a debt-to-equity ratio of 46.98, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $10.08 billion, a P/E ratio of 14.89, a price-to-earnings-growth ratio of 0.86 and a beta of 0.97.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, May 5th. The information technology services provider reported $3.32 EPS for the quarter, topping the consensus estimate of $2.99 by $0.33. The company had revenue of $1.49 billion during 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%.Gartner’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the company earned $2.98 EPS. Gartner has set its FY 2026 guidance at 13.250- EPS. On average, research analysts expect that Gartner, Inc. will post 13.61 earnings per share for the current fiscal year.

Institutional Trading of Gartner

A number of hedge funds have recently bought and sold shares of IT. Brighton Jones LLC purchased a new stake in shares of Gartner during the 4th quarter valued at about $309,000. Sivia Capital Partners LLC purchased a new position in shares of Gartner in the second quarter worth approximately $336,000. Cresset Asset Management LLC grew its position in Gartner by 15.2% during the second quarter. Cresset Asset Management LLC now owns 1,446 shares of the information technology services provider’s stock valued at $585,000 after buying an additional 191 shares during the period. Sei Investments Co. increased its holdings in Gartner by 9.2% during the second quarter. Sei Investments Co. now owns 91,205 shares of the information technology services provider’s stock valued at $36,867,000 after buying an additional 7,678 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Gartner by 111.5% during the second quarter. The Manufacturers Life Insurance Company now owns 95,301 shares of the information technology services provider’s stock valued at $38,523,000 after buying an additional 50,251 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

About Gartner

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.