Gartner (NYSE:IT) Raised to Strong Sell at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Gartner (NYSE:IT) to a strong sell rating in a report issued on Tuesday, Zacks.com reports.

Other equities analysts have also issued research reports about the company. StockNews.com lowered Gartner from a buy rating to a hold rating in a research note on Wednesday, July 17th. BMO Capital Markets boosted their price objective on Gartner from $450.00 to $510.00 and gave the stock a market perform rating in a research note on Wednesday, July 31st. Morgan Stanley boosted their price objective on Gartner from $440.00 to $470.00 and gave the stock an equal weight rating in a research note on Thursday, July 11th. Bank of America boosted their price objective on Gartner from $525.00 to $580.00 and gave the stock a buy rating in a research note on Wednesday, July 31st. Finally, UBS Group boosted their price objective on Gartner from $510.00 to $580.00 and gave the stock a buy rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Gartner presently has a consensus rating of Hold and an average price target of $521.00.

Gartner Stock Up 1.1 %

Shares of IT opened at $484.11 on Tuesday. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.91 and a current ratio of 0.90. Gartner has a one year low of $323.61 and a one year high of $509.15. The stock has a market capitalization of $37.58 billion, a price-to-earnings ratio of 48.32, a PEG ratio of 3.80 and a beta of 1.33. The stock has a 50 day moving average price of $457.28 and a 200 day moving average price of $455.79.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, topping the consensus estimate of $3.02 by $0.20. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the previous year, the business earned $2.85 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts forecast that Gartner will post 11.58 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Yvonne Genovese sold 439 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $456.13, for a total value of $200,241.07. Following the transaction, the executive vice president now owns 1,959 shares of the company’s stock, valued at approximately $893,558.67. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Yvonne Genovese sold 439 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $456.13, for a total transaction of $200,241.07. Following the transaction, the executive vice president now owns 1,959 shares of the company’s stock, valued at approximately $893,558.67. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James C. Smith sold 10,000 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $455.20, for a total value of $4,552,000.00. Following the transaction, the director now directly owns 608,369 shares in the company, valued at approximately $276,929,568.80. The disclosure for this sale can be found here. Insiders have sold a total of 37,209 shares of company stock valued at $17,452,363 in the last quarter. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Gartner

Large investors have recently bought and sold shares of the stock. MCF Advisors LLC purchased a new stake in Gartner during the 4th quarter worth about $27,000. Frazier Financial Advisors LLC purchased a new stake in Gartner during the 4th quarter worth about $27,000. DSM Capital Partners LLC purchased a new stake in Gartner during the 4th quarter worth about $32,000. Central Pacific Bank Trust Division purchased a new stake in Gartner during the 1st quarter worth about $36,000. Finally, Hexagon Capital Partners LLC increased its holdings in Gartner by 36.2% during the 4th quarter. Hexagon Capital Partners LLC now owns 94 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 25 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

About Gartner

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.