Zacks Investment Research Lowers Gartner, Inc. (IT) to Hold
Gartner, Inc. (NYSE:IT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Gartner reported strong third-quarter 2017 results with healthy growth in non-GAAP revenues and earnings that beat the respective Zacks Consensus Estimates. With a diligent execution of operational plans, Gartner has recorded double-digit growth in key metrics for over a decade. The company has a vast, untapped market opportunity worth an estimated $61 billion. The acquisition of CEB further reinforces Gartner’s market strength and is likely to be accretive in the future. The company has also outperformed the industry year to date. However, revenue from the federal government business is exposed to lengthy approval times and other austerity measures, which undermine the long-term growth potential to some extent. In addition, with modest revenue coming from the U.K., Gartner is likely to be stifled by the renegotiated deals and restrictions imposed on trade with other European Union members post the Brexit referendum.”
Other equities research analysts have also issued reports about the stock. Cantor Fitzgerald restated a “buy” rating and issued a $139.00 price objective on shares of Gartner in a report on Thursday. BidaskClub lowered shares of Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. BMO Capital Markets restated an “outperform” rating and issued a $132.00 price objective (down from $137.00) on shares of Gartner in a report on Monday, August 14th. Morgan Stanley raised their price objective on shares of Gartner from $118.00 to $120.00 and gave the company an “equal weight” rating in a report on Monday, October 23rd. Finally, Credit Suisse Group restated an “outperform” rating and issued a $138.00 price objective (up from $130.00) on shares of Gartner in a report on Wednesday, August 9th. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Gartner presently has a consensus rating of “Buy” and a consensus target price of $128.89.
Gartner (NYSE:IT) last announced its quarterly earnings data on Thursday, November 2nd. The information technology services provider reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.13. Gartner had a negative net margin of 1.25% and a positive return on equity of 79.86%. The business had revenue of $828.09 million for the quarter, compared to analyst estimates of $826.09 million. During the same period last year, the business earned $0.58 EPS. The company’s revenue was up 44.3% on a year-over-year basis.
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In other Gartner news, SVP Alwyn Dawkins sold 1,000 shares of Gartner stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $118.62, for a total value of $118,620.00. Following the transaction, the senior vice president now directly owns 27,137 shares in the company, valued at $3,218,990.94. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Anne Sutherland Fuchs sold 5,000 shares of Gartner stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $117.02, for a total transaction of $585,100.00. Following the completion of the transaction, the director now owns 29,895 shares in the company, valued at $3,498,312.90. The disclosure for this sale can be found here. Insiders have sold a total of 23,363 shares of company stock worth $2,775,387 over the last quarter. 4.30% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of IT. OppenheimerFunds Inc. increased its stake in Gartner by 13.4% in the first quarter. OppenheimerFunds Inc. now owns 5,482 shares of the information technology services provider’s stock valued at $592,000 after purchasing an additional 646 shares during the period. Teachers Advisors LLC increased its stake in Gartner by 54.0% in the first quarter. Teachers Advisors LLC now owns 130,288 shares of the information technology services provider’s stock valued at $14,070,000 after purchasing an additional 45,677 shares during the period. Dimensional Fund Advisors LP increased its stake in Gartner by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 198,368 shares of the information technology services provider’s stock valued at $21,423,000 after purchasing an additional 5,272 shares during the period. Xact Kapitalforvaltning AB increased its stake in Gartner by 100.8% in the second quarter. Xact Kapitalforvaltning AB now owns 18,953 shares of the information technology services provider’s stock valued at $2,341,000 after purchasing an additional 9,515 shares during the period. Finally, Capstone Asset Management Co. increased its stake in Gartner by 28.3% in the second quarter. Capstone Asset Management Co. now owns 11,329 shares of the information technology services provider’s stock valued at $1,399,000 after purchasing an additional 2,500 shares during the period. Institutional investors own 92.14% of the company’s stock.
Gartner, Inc is an information technology research and advisory company. The Company works with clients to research, analyze and interpret the business of information technology (IT), supply chain and marketing within the context of their individual roles. It operates in three segments: Research, Consulting and Events.
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