Gartner (NYSE:IT) Price Target Cut to $390.00 by Analysts at The Goldman Sachs Group

Gartner (NYSE:IT) had its price objective dropped by stock analysts at The Goldman Sachs Group from $457.00 to $390.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the information technology services provider’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 65.18% from the company’s current price.

A number of other research analysts have also recently commented on IT. Morgan Stanley set a $307.00 price target on Gartner in a research report on Monday, October 13th. Weiss Ratings cut Gartner from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. Royal Bank Of Canada initiated coverage on Gartner in a research report on Tuesday, September 9th. They issued a “sector perform” rating and a $263.00 price target on the stock. BMO Capital Markets restated a “market perform” rating and issued a $254.00 price target on shares of Gartner in a research report on Wednesday. Finally, William Blair reaffirmed an “outperform” rating on shares of Gartner in a research note on Tuesday, October 21st. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $336.00.

Gartner Stock Performance

IT stock traded up $8.94 during trading hours on Wednesday, hitting $236.11. 498,956 shares of the stock were exchanged, compared to its average volume of 956,754. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $17.88 billion, a P/E ratio of 14.45 and a beta of 1.19. The company has a 50-day simple moving average of $249.19 and a two-hundred day simple moving average of $331.50. Gartner has a 12 month low of $223.23 and a 12 month high of $584.01.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, November 4th. The information technology services provider reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.35. Gartner had a return on equity of 82.63% and a net margin of 19.71%.The company had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Gartner has set its FY 2025 guidance at 12.650- EPS. On average, analysts forecast that Gartner will post 12.5 earnings per share for the current fiscal year.

Insider Transactions at Gartner

In other news, SVP John J. Rinello sold 105 shares of Gartner stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $249.71, for a total transaction of $26,219.55. Following the sale, the senior vice president directly owned 3,225 shares of the company’s stock, valued at approximately $805,314.75. This trade represents a 3.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jose M. Gutierrez purchased 417 shares of the business’s stock in a transaction dated Monday, August 18th. The shares were purchased at an average cost of $239.80 per share, for a total transaction of $99,996.60. Following the completion of the purchase, the director directly owned 2,080 shares of the company’s stock, valued at approximately $498,784. This represents a 25.08% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 3.60% of the company’s stock.

Institutional Trading of Gartner

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IT. Brighton Jones LLC acquired a new stake in Gartner during the 4th quarter valued at approximately $309,000. Mutual Advisors LLC increased its position in Gartner by 13.8% during the 1st quarter. Mutual Advisors LLC now owns 601 shares of the information technology services provider’s stock valued at $250,000 after purchasing an additional 73 shares during the period. OneDigital Investment Advisors LLC increased its position in Gartner by 37.4% during the 1st quarter. OneDigital Investment Advisors LLC now owns 2,056 shares of the information technology services provider’s stock valued at $863,000 after purchasing an additional 560 shares during the period. TD Private Client Wealth LLC increased its position in Gartner by 1.3% during the 1st quarter. TD Private Client Wealth LLC now owns 2,942 shares of the information technology services provider’s stock valued at $1,235,000 after purchasing an additional 37 shares during the period. Finally, Linden Thomas Advisory Services LLC increased its position in Gartner by 1.0% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 7,603 shares of the information technology services provider’s stock valued at $3,191,000 after purchasing an additional 75 shares during the period. Institutional investors and hedge funds 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.