Why Gartner's Stock Traded Lower Today

Gartner, Inc. IT shares are trading lower on Wednesday, after the company said it expects conference cancellations and postponements to have a $158 million impact on second-quarter revenue.

The company also announced that in consideration of guidelines and travel restrictions implemented by governments around the world due to the novel coronavirus (COVID-19), it has cancelled or postponed all conferences scheduled for April through August.

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Gartner is a research and advisory company providing information, advice, and tools for the IT, finance, HR, customer service and support, communications, legal and compliance, marketing, sales sectors.

Gartner shares were trading down 2.78% at $89.32 at time of writing. The stock has a 52-week range between $171.78 and $76.91.