Zacks Investment Research Upgrades Gartner (IT) to “Hold”

Gartner (NYSE:IT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “Gartner has a large and diverse addressable market with low customer concentration that mitigates operating risks. With a diligent execution of operational plans, Gartner has recorded double-digit growth in key metrics for over a decade. The company has a strong cash flow and a healthy balance sheet position. Gartner offers timely, comprehensive analysis that is known for its quality, independence and objectivity. However, Gartner continues to face stiff competition from other players in the market that is characterized by limited barriers to entry. Since a significant portion of Gartner’s revenues is generated from operations outside the United States, adverse foreign currency fluctuations erode the profitability of the company. The company has underperformed the industry, on an average, in the last three months.”

IT has been the topic of several other research reports. Royal Bank of Canada reissued a “top pick” rating and set a $144.00 target price on shares of Gartner in a research report on Friday, February 16th. TheStreet raised Gartner from a “c+” rating to a “b-” rating in a research report on Thursday, March 15th. BMO Capital Markets dropped their price objective on Gartner from $139.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Cantor Fitzgerald restated a “buy” rating and set a $139.00 price objective on shares of Gartner in a report on Tuesday, February 6th. Finally, Piper Jaffray restated a “hold” rating and set a $136.00 price objective on shares of Gartner in a report on Tuesday, January 30th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $139.89.



NYSE IT opened at $116.64 on Wednesday. The company has a market cap of $10,655.62, a PE ratio of 35.24, a P/E/G ratio of 1.93 and a beta of 1.14. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.92 and a current ratio of 0.92. Gartner has a fifty-two week low of $108.44 and a fifty-two week high of $142.16.

Gartner (NYSE:IT) last released its earnings results on Tuesday, February 6th. The information technology services provider reported $1.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by ($0.15). The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. Gartner had a net margin of 0.10% and a return on equity of 42.47%. The business’s revenue for the quarter was up 44.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.97 EPS. equities analysts expect that Gartner will post 3.92 earnings per share for the current year.

In other Gartner news, EVP Robin B. Kranich sold 5,713 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $116.15, for a total value of $663,564.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alwyn Dawkins sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $122.82, for a total value of $245,640.00. Following the completion of the sale, the executive vice president now owns 32,133 shares of the company’s stock, valued at $3,946,575.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,855 shares of company stock valued at $9,818,666. 4.30% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in shares of Gartner by 2.6% in the 4th quarter. BlackRock Inc. now owns 6,750,760 shares of the information technology services provider’s stock worth $831,356,000 after buying an additional 169,981 shares during the period. Polen Capital Management LLC lifted its holdings in shares of Gartner by 1.5% in the 4th quarter. Polen Capital Management LLC now owns 4,132,209 shares of the information technology services provider’s stock worth $508,882,000 after buying an additional 60,017 shares during the period. TimesSquare Capital Management LLC lifted its holdings in shares of Gartner by 5.4% in the 4th quarter. TimesSquare Capital Management LLC now owns 2,352,550 shares of the information technology services provider’s stock worth $289,717,000 after buying an additional 121,350 shares during the period. Atlanta Capital Management Co. L L C lifted its holdings in shares of Gartner by 18.2% in the 4th quarter. Atlanta Capital Management Co. L L C now owns 2,202,047 shares of the information technology services provider’s stock worth $271,182,000 after buying an additional 339,426 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of Gartner by 11.1% in the 4th quarter. Wells Fargo & Company MN now owns 1,153,347 shares of the information technology services provider’s stock worth $142,034,000 after buying an additional 115,594 shares during the period. Institutional investors and hedge funds own 96.78% of the company’s stock.

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About Gartner

Gartner, Inc operates as a research and advisory company. It operates through four segments: Research, Consulting, Events, and Talent Assessment & Other. The Research segment offers objective insights and advice on the priorities of various leaders in a range of functional areas of the enterprise through research and other reports, briefings, proprietary tools, access to our analysts, peer networking services, and membership programs that enable clients to make better decisions; and practice and talent management research insights in various business functions, such as human resources, sales, legal, and finance.

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