Morgan Stanley Cuts Gartner (NYSE:IT) Price Target to $155.00

Gartner (NYSE:IT) had its price objective trimmed by Morgan Stanley from $156.00 to $155.00 in a report issued on Wednesday, BenzingaRatingsTable reports. The firm currently has an equal weight rating on the information technology services provider’s stock.

A number of other research analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Gartner from a sell rating to a hold rating in a research note on Thursday, May 9th. Cantor Fitzgerald increased their price objective on shares of Gartner from $141.00 to $152.00 and gave the stock a neutral rating in a research note on Wednesday, May 8th. Finally, BMO Capital Markets increased their price objective on shares of Gartner from $150.00 to $155.00 and gave the stock a market perform rating in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. Gartner currently has a consensus rating of Hold and an average target price of $152.14.

Gartner stock traded down $2.30 during mid-day trading on Wednesday, reaching $135.11. 570,337 shares of the company traded hands, compared to its average volume of 454,405. The company has a quick ratio of 0.67, a current ratio of 0.68 and a debt-to-equity ratio of 2.93. Gartner has a fifty-two week low of $120.89 and a fifty-two week high of $171.77. The firm has a market capitalization of $12.55 billion, a P/E ratio of 35.65, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25. The company has a fifty day moving average price of $163.13.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $1.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.27. Gartner had a net margin of 5.43% and a return on equity of 41.29%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the business posted $1.03 EPS. Gartner’s revenue for the quarter was up 7.0% compared to the same quarter last year. Research analysts anticipate that Gartner will post 3.52 EPS for the current year.

In other news, EVP Robin B. Kranich sold 6,366 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $154.27, for a total value of $982,082.82. Following the sale, the executive vice president now owns 10,265 shares in the company, valued at $1,583,581.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Joseph P. Beck sold 4,032 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $157.29, for a total transaction of $634,193.28. Following the completion of the sale, the executive vice president now owns 8,364 shares in the company, valued at approximately $1,315,573.56. The disclosure for this sale can be found here. Insiders sold 13,610 shares of company stock worth $2,103,725 in the last quarter. Company insiders own 4.00% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in IT. Avestar Capital LLC grew its position in Gartner by 1,036.8% during the first quarter. Avestar Capital LLC now owns 216 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 197 shares during the period. Ibex Wealth Advisors acquired a new stake in Gartner during the second quarter valued at $40,000. Smithfield Trust Co. grew its position in Gartner by 80.9% during the first quarter. Smithfield Trust Co. now owns 425 shares of the information technology services provider’s stock valued at $64,000 after buying an additional 190 shares during the period. Advisory Services Network LLC grew its position in Gartner by 98.0% during the second quarter. Advisory Services Network LLC now owns 788 shares of the information technology services provider’s stock valued at $127,000 after buying an additional 390 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its position in Gartner by 50.0% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the information technology services provider’s stock valued at $193,000 after buying an additional 400 shares during the period. Institutional investors own 99.03% of the company’s stock.

Gartner Company Profile

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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