BMO Capital Markets Downgrades Gartner (IT) to Market Perform

Gartner (NYSE:IT) was downgraded by analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a note issued to investors on Wednesday, The Fly reports. They currently have a $139.30 price target on the information technology services provider’s stock. BMO Capital Markets’ target price suggests a potential upside of 0.11% from the company’s current price.

A number of other equities research analysts also recently weighed in on the stock. Morgan Stanley set a $144.00 price objective on shares of Gartner and gave the company a “hold” rating in a research report on Monday, October 15th. Bank of America assumed coverage on shares of Gartner in a research report on Monday, October 22nd. They set a “buy” rating for the company. TheStreet downgraded shares of Gartner from a “b” rating to a “c+” rating in a research report on Thursday, November 1st. Piper Jaffray Companies downgraded shares of Gartner from a “neutral” rating to an “underweight” rating in a research report on Friday, November 2nd. Finally, Robert W. Baird lowered their price objective on shares of Gartner from $170.00 to $162.00 and set an “outperform” rating for the company in a research report on Friday, November 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. Gartner currently has an average rating of “Hold” and an average price target of $144.90.

Shares of Gartner stock traded down $1.85 during trading on Wednesday, reaching $139.15. The company had a trading volume of 3,333 shares, compared to its average volume of 549,028. The firm has a market cap of $12.82 billion, a PE ratio of 42.28, a price-to-earnings-growth ratio of 2.37 and a beta of 1.27. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.66 and a current ratio of 0.66. Gartner has a fifty-two week low of $111.57 and a fifty-two week high of $161.21.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, February 5th. The information technology services provider reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.05). The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.10 billion. Gartner had a net margin of 3.74% and a return on equity of 36.22%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.17 EPS. On average, equities analysts predict that Gartner will post 3.65 earnings per share for the current year.

In other news, EVP Robin B. Kranich sold 3,085 shares of the stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $149.24, for a total value of $460,405.40. Following the completion of the transaction, the executive vice president now directly owns 11,914 shares in the company, valued at $1,778,045.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alwyn Dawkins sold 1,378 shares of the stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $147.20, for a total transaction of $202,841.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,226 shares of company stock valued at $1,070,818. 4.00% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Signet Investment Advisory Group Inc. acquired a new stake in Gartner during the fourth quarter valued at approximately $38,000. Exane Asset Management purchased a new stake in shares of Gartner in the 4th quarter valued at approximately $78,000. IFP Advisors Inc lifted its position in shares of Gartner by 135.7% in the 3rd quarter. IFP Advisors Inc now owns 641 shares of the information technology services provider’s stock valued at $102,000 after acquiring an additional 369 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in shares of Gartner in the 4th quarter valued at approximately $135,000. Finally, Gilbert & Cook Inc. purchased a new stake in shares of Gartner in the 3rd quarter valued at approximately $209,000.

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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