Morgan Stanley Increases Gartner (IT) Price Target to $148.00

Gartner (NYSE:IT) had its price target increased by Morgan Stanley from $147.00 to $148.00 in a research report issued on Wednesday, BenzingaRatingsTable reports. The firm presently has an “equal weight” rating on the information technology services provider’s stock. Morgan Stanley’s price objective indicates a potential downside of 3.71% from the company’s previous close.

IT has been the topic of several other reports. Zacks Investment Research downgraded Gartner from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. TheStreet upgraded Gartner from a “c+” rating to a “b” rating in a report on Tuesday, February 5th. Bank of America restated a “buy” rating and set a $150.00 price objective on shares of Gartner in a report on Wednesday, February 6th. Cantor Fitzgerald downgraded Gartner from an “overweight” rating to a “neutral” rating in a report on Wednesday, February 6th. Finally, BMO Capital Markets downgraded Gartner from an “outperform” rating to a “market perform” rating and set a $139.30 price objective on the stock. in a report on Wednesday, February 6th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $148.38.

IT opened at $153.70 on Wednesday. The firm has a market cap of $13.91 billion, a price-to-earnings ratio of 40.55, a PEG ratio of 2.84 and a beta of 1.31. Gartner has a 52 week low of $120.89 and a 52 week high of $161.85. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 2.49.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, May 7th. The information technology services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.53 by $0.05. The company had revenue of $970.00 million for the quarter, compared to the consensus estimate of $960.72 million. Gartner had a return on equity of 37.74% and a net margin of 3.08%. Gartner’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the business posted $0.72 EPS. On average, equities research analysts forecast that Gartner will post 3.97 EPS for the current fiscal year.

In other Gartner news, EVP Alwyn Dawkins sold 1,909 shares of the stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $142.01, for a total transaction of $271,097.09. Following the sale, the executive vice president now owns 35,822 shares of the company’s stock, valued at approximately $5,087,082.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eugene A. Hall sold 90,935 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $143.22, for a total value of $13,023,710.70. Following the sale, the chief executive officer now directly owns 1,174,006 shares in the company, valued at approximately $168,141,139.32. The disclosure for this sale can be found here. Insiders have sold a total of 113,234 shares of company stock worth $16,211,414 in the last ninety days. Insiders own 4.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Piedmont Investment Advisors Inc. boosted its position in Gartner by 1.7% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 7,883 shares of the information technology services provider’s stock valued at $1,196,000 after acquiring an additional 133 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in Gartner by 2.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 78,931 shares of the information technology services provider’s stock valued at $11,941,000 after acquiring an additional 1,684 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its position in Gartner by 6.7% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,435 shares of the information technology services provider’s stock valued at $217,000 after acquiring an additional 90 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Gartner by 26.2% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 303,407 shares of the information technology services provider’s stock valued at $46,021,000 after acquiring an additional 62,947 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in Gartner by 2.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 373,994 shares of the information technology services provider’s stock valued at $56,727,000 after acquiring an additional 9,952 shares in the last quarter. 99.66% of the stock is currently owned by institutional investors and hedge funds.

About Gartner

Gartner, Inc operates as a research and advisory company. It operates through three segments: Research, Conferences, and Consulting. 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 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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Analyst Recommendations for Gartner (NYSE:IT)

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