Gartner (IT) Upgraded by Zacks Investment Research to “Hold”

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

According to Zacks, “Gartner reported strong first-quarter 2018 results with revenues and earnings surpassing the Zacks Consensus Estimate. The topline growth was driven by strength across research, consulting and events segments. Gartner offers timely, comprehensive analysis that is known for its quality, independence and objectivity. The company’s research reports have become indispensable tools for diverse companies across different sectors, strengthening its leading position in the market. On the flipside, 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, the company remains susceptible to foreign currency fluctuations. The stock has underperformed the industry in the past one year.”

A number of other equities research analysts have also commented on IT. BMO Capital Markets upped their price target on shares of Gartner from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, May 9th. Cantor Fitzgerald upped their price target on shares of Gartner to $148.00 and gave the company an “overweight” rating in a report on Wednesday, May 9th. ValuEngine upgraded shares of Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, May 9th. TheStreet lowered shares of Gartner from a “b-” rating to a “c” rating in a report on Tuesday, May 8th. Finally, Morgan Stanley upped their price target on shares of Gartner from $127.00 to $133.00 and gave the company an “equal weight” rating in a report on Wednesday, May 9th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $141.40.



Shares of IT traded down $0.69 during mid-day trading on Monday, reaching $134.35. The company’s stock had a trading volume of 24,095 shares, compared to its average volume of 733,656. The firm has a market cap of $12.27 billion, a price-to-earnings ratio of 40.59, a PEG ratio of 2.33 and a beta of 1.13. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.73 and a current ratio of 0.73. Gartner has a 52 week low of $133.59 and a 52 week high of $135.39.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, May 8th. The information technology services provider reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.14. The firm had revenue of $964.00 million during the quarter, compared to analyst estimates of $921.22 million. Gartner had a negative net margin of 1.45% and a positive return on equity of 33.99%. The business’s quarterly revenue was up 54.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 EPS. equities research analysts predict that Gartner will post 3.75 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 shares were sold at an average price of $116.15, for a total value of $663,564.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $245,640.00. Following the completion of the transaction, 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. Insiders have sold a total of 83,855 shares of company stock valued at $9,818,666 over the last quarter. 4.00% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Bain Capital Public Equity Management LLC raised its holdings in Gartner by 41.1% in the 4th quarter. Bain Capital Public Equity Management LLC now owns 456,103 shares of the information technology services provider’s stock worth $56,169,000 after purchasing an additional 132,834 shares in the last quarter. American International Group Inc. raised its holdings in Gartner by 11.1% in the 4th quarter. American International Group Inc. now owns 32,101 shares of the information technology services provider’s stock worth $3,953,000 after purchasing an additional 3,214 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Gartner by 2.9% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 198,566 shares of the information technology services provider’s stock worth $24,453,000 after purchasing an additional 5,567 shares in the last quarter. Elkfork Partners LLC bought a new position in Gartner in the 4th quarter worth $509,000. Finally, Envestnet Asset Management Inc. grew its position in shares of Gartner by 2.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 56,237 shares of the information technology services provider’s stock worth $6,925,000 after buying an additional 1,182 shares during the period. Institutional investors and hedge funds own 97.00% of the company’s stock.

Gartner Company Profile

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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