Gartner (IT) Downgraded to Neutral at Cantor Fitzgerald

Gartner (NYSE:IT) was downgraded by research analysts at Cantor Fitzgerald from an “overweight” rating to a “neutral” rating in a research note issued on Wednesday, The Fly reports.

A number of other equities analysts have also commented on IT. Morgan Stanley set a $144.00 price target on Gartner and gave the company a “hold” rating in a research note on Monday, October 15th. BMO Capital Markets reissued a “buy” rating and set a $174.00 price target on shares of Gartner in a research note on Sunday, October 21st. Bank of America started coverage on Gartner in a research note on Monday, October 22nd. They set a “buy” rating for the company. Piper Jaffray Companies lowered Gartner from a “neutral” rating to an “underweight” rating in a research note on Friday, November 2nd. Finally, Robert W. Baird dropped their price target on Gartner from $170.00 to $162.00 and set an “outperform” rating for the company in a research note on Friday, November 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $144.13.

Shares of NYSE IT traded down $1.16 during mid-day trading on Wednesday, reaching $139.85. The company’s stock had a trading volume of 537,084 shares, compared to its average volume of 549,028. The firm has a market cap of $12.82 billion, a price-to-earnings ratio of 42.25, a price-to-earnings-growth ratio of 2.37 and a beta of 1.27. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.21. Gartner has a 52 week low of $111.57 and a 52 week high of $161.21.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, February 5th. The information technology services provider reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.05). Gartner had a net margin of 3.74% and a return on equity of 36.22%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the previous year, the company posted $1.17 earnings per share. Gartner’s quarterly revenue was up 7.3% on a year-over-year basis. Research analysts expect that Gartner will post 3.65 EPS for the current fiscal year.

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

Several large investors have recently bought and sold shares of IT. Renaissance Technologies LLC bought a new stake in shares of Gartner in the 2nd quarter valued at approximately $201,000. Millennium Management LLC raised its holdings in shares of Gartner by 131.9% in the second quarter. Millennium Management LLC now owns 22,526 shares of the information technology services provider’s stock worth $2,994,000 after buying an additional 12,812 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of Gartner by 1,662.7% in the second quarter. Advisors Asset Management Inc. now owns 23,920 shares of the information technology services provider’s stock worth $167,000 after buying an additional 22,563 shares during the period. Lourd Capital LLC purchased a new stake in shares of Gartner in the third quarter worth approximately $262,000. Finally, Bank of Montreal Can raised its holdings in shares of Gartner by 15.8% in the third quarter. Bank of Montreal Can now owns 49,707 shares of the information technology services provider’s stock worth $7,877,000 after buying an additional 6,769 shares during the period.

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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