Gartner (IT) PT Set at $144.00 by Morgan Stanley

Gartner (NYSE:IT) received a $144.00 price objective from Morgan Stanley in a research note issued on Monday. The firm currently has a “hold” rating on the information technology services provider’s stock. Morgan Stanley’s price target would indicate a potential downside of 4.72% from the company’s previous close.

A number of other analysts also recently commented on the stock. Wells Fargo & Co increased their price objective on shares of Gartner from $130.00 to $155.00 and gave the company a “market perform” rating in a report on Monday, October 1st. Robert W. Baird increased their price objective on shares of Gartner from $155.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, September 28th. BMO Capital Markets reiterated a “buy” rating and issued a $161.00 price objective (up previously from $147.00) on shares of Gartner in a report on Friday, August 31st. Barclays reiterated a “buy” rating and issued a $155.00 price objective on shares of Gartner in a report on Sunday, August 12th. Finally, TheStreet upgraded shares of Gartner from a “c” rating to a “b” rating in a report on Wednesday, August 1st. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $148.27.

IT opened at $151.14 on Monday. Gartner has a twelve month low of $111.57 and a twelve month high of $161.21. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market cap of $14.39 billion, a P/E ratio of 45.66, a P/E/G ratio of 2.82 and a beta of 1.19.

Gartner (NYSE:IT) last released its quarterly earnings results on Wednesday, August 1st. The information technology services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.07. Gartner had a net margin of 2.25% and a return on equity of 35.04%. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $985.98 million. During the same quarter in the prior year, the firm earned $0.88 EPS. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. On average, sell-side analysts expect that Gartner will post 3.75 earnings per share for the current fiscal year.

In other news, EVP Mr Thomas Christopher sold 1,400 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $149.81, for a total transaction of $209,734.00. Following the completion of the sale, the executive vice president now owns 18,738 shares in the company, valued at approximately $2,807,139.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eugene A. Hall sold 38,995 shares of the firm’s stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $139.26, for a total transaction of $5,430,443.70. Following the sale, the chief executive officer now owns 1,173,882 shares of the company’s stock, valued at approximately $163,474,807.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,306 shares of company stock valued at $7,795,227. 4.00% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Aurora Investment Counsel increased its holdings in shares of Gartner by 5.2% during the 2nd quarter. Aurora Investment Counsel now owns 7,691 shares of the information technology services provider’s stock worth $1,022,000 after buying an additional 380 shares during the last quarter. Profund Advisors LLC boosted its position in shares of Gartner by 14.7% during the 1st quarter. Profund Advisors LLC now owns 3,153 shares of the information technology services provider’s stock worth $371,000 after purchasing an additional 403 shares during the period. Summit Trail Advisors LLC boosted its position in shares of Gartner by 11.4% during the 1st quarter. Summit Trail Advisors LLC now owns 4,342 shares of the information technology services provider’s stock worth $453,000 after purchasing an additional 443 shares during the period. Xact Kapitalforvaltning AB boosted its position in shares of Gartner by 2.8% during the 1st quarter. Xact Kapitalforvaltning AB now owns 20,976 shares of the information technology services provider’s stock worth $2,467,000 after purchasing an additional 565 shares during the period. Finally, Rehmann Capital Advisory Group boosted its position in shares of Gartner by 122.7% during the 2nd quarter. Rehmann Capital Advisory Group now owns 1,040 shares of the information technology services provider’s stock worth $138,000 after purchasing an additional 573 shares during the period. Institutional investors and hedge funds own 96.80% of the company’s stock.

About Gartner

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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