Wells Fargo & Company Issues Pessimistic Forecast for Gartner (NYSE:IT) Stock Price

Gartner (NYSE:IT) had its target price decreased by equities researchers at Wells Fargo & Company from $470.00 to $460.00 in a report issued on Friday,Benzinga reports. The firm presently has an “underweight” rating on the information technology services provider’s stock. Wells Fargo & Company‘s price target indicates a potential downside of 5.95% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Morgan Stanley increased their price objective on shares of Gartner from $560.00 to $564.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $525.00 to $600.00 in a research report on Friday. Deutsche Bank Aktiengesellschaft boosted their price objective on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, Robert W. Baird lifted their price objective on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Gartner presently has an average rating of “Hold” and an average price target of $551.88.

Gartner Stock Performance

IT opened at $489.10 on Friday. The company’s 50 day moving average is $510.21 and its 200 day moving average is $495.69. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. The company has a market cap of $37.73 billion, a price-to-earnings ratio of 36.07, a PEG ratio of 3.18 and a beta of 1.33. Gartner has a 12-month low of $411.15 and a 12-month high of $559.00.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.05. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the firm earned $2.56 EPS. Gartner’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts predict that Gartner will post 11.87 EPS for the current year.

Insider Activity at Gartner

In other Gartner news, EVP Claire Herkes sold 411 shares of Gartner stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total value of $214,229.64. Following the completion of the transaction, the executive vice president now owns 1,494 shares of the company’s stock, valued at $778,732.56. The trade was a 21.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director James C. Smith sold 2,450 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $554.68, for a total transaction of $1,358,966.00. Following the sale, the director now directly owns 529,844 shares of the company’s stock, valued at approximately $293,893,869.92. This represents a 0.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,583 shares of company stock worth $19,241,974. 3.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Gartner

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Baron Wealth Management LLC raised its holdings in Gartner by 4.1% during the 3rd quarter. Baron Wealth Management LLC now owns 481 shares of the information technology services provider’s stock worth $244,000 after buying an additional 19 shares during the period. Fortitude Family Office LLC boosted its stake in Gartner by 23.8% in the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after purchasing an additional 20 shares during the period. Moors & Cabot Inc. grew its position in Gartner by 3.0% during the 2nd quarter. Moors & Cabot Inc. now owns 763 shares of the information technology services provider’s stock worth $343,000 after purchasing an additional 22 shares in the last quarter. Wallace Advisory Group LLC raised its stake in Gartner by 2.4% during the 2nd quarter. Wallace Advisory Group LLC now owns 980 shares of the information technology services provider’s stock valued at $440,000 after purchasing an additional 23 shares during the period. Finally, Trust Point Inc. lifted its holdings in shares of Gartner by 3.2% in the third quarter. Trust Point Inc. now owns 746 shares of the information technology services provider’s stock valued at $378,000 after purchasing an additional 23 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Gartner Company Profile

Gartner, Inc operates as a research and advisory company in the United States, Canada, Europe, the Middle East, Africa, and internationally. It operates through three segments: Research, Conferences, and Consulting. The Research segment delivers its research primarily through a subscription service that include on-demand access to published research content, data and benchmarks, and direct access to a network of research experts.