Morgan Stanley Raises Gartner (NYSE:IT) Price Target to $470.00

Gartner (NYSE:IT) had its target price increased by Morgan Stanley from $440.00 to $470.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an equal weight rating on the information technology services provider’s stock.

A number of other research firms also recently issued reports on IT. UBS Group lowered their price target on Gartner from $550.00 to $510.00 and set a buy rating for the company in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Gartner in a research report on Tuesday, April 16th. They set a hold rating and a $507.00 price target on the stock. BMO Capital Markets dropped their price objective on shares of Gartner from $450.00 to $432.00 and set a market perform rating for the company in a research report on Thursday, May 2nd. Robert W. Baird reduced their target price on shares of Gartner from $536.00 to $517.00 and set an outperform rating on the stock in a report on Wednesday, May 1st. Finally, StockNews.com upgraded Gartner from a hold rating to a buy rating in a report on Tuesday, July 9th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $478.50.

Gartner Stock Performance

NYSE:IT opened at $455.38 on Thursday. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $35.35 billion, a PE ratio of 45.31, a P/E/G ratio of 3.92 and a beta of 1.33. The firm has a 50 day simple moving average of $441.33 and a 200-day simple moving average of $452.14. Gartner has a 1-year low of $323.61 and a 1-year high of $486.54.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.40. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.47 billion. Gartner had a return on equity of 141.55% and a net margin of 13.35%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.88 EPS. On average, equities analysts expect that Gartner will post 11.55 EPS for the current year.

Insider Buying and Selling at Gartner

In other Gartner news, EVP Yvonne Genovese sold 439 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $456.13, for a total transaction of $200,241.07. Following the completion of the sale, the executive vice president now owns 1,959 shares in the company, valued at approximately $893,558.67. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Gartner news, EVP Yvonne Genovese sold 439 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $456.13, for a total transaction of $200,241.07. Following the completion of the transaction, the executive vice president now directly owns 1,959 shares of the company’s stock, valued at approximately $893,558.67. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alwyn Dawkins sold 600 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $447.63, for a total transaction of $268,578.00. Following the completion of the sale, the executive vice president now owns 51,583 shares in the company, valued at approximately $23,090,098.29. The disclosure for this sale can be found here. Insiders sold a total of 22,544 shares of company stock valued at $10,079,813 in the last ninety days. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. RFG Advisory LLC increased its stake in Gartner by 37.2% during the fourth quarter. RFG Advisory LLC now owns 1,589 shares of the information technology services provider’s stock valued at $717,000 after purchasing an additional 431 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Gartner by 169.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 37,708 shares of the information technology services provider’s stock worth $17,010,000 after acquiring an additional 23,701 shares during the last quarter. TCW Group Inc. boosted its holdings in shares of Gartner by 4.0% during the fourth quarter. TCW Group Inc. now owns 199,062 shares of the information technology services provider’s stock valued at $89,800,000 after acquiring an additional 7,639 shares during the period. Icon Wealth Advisors LLC acquired a new stake in shares of Gartner in the 4th quarter worth about $2,093,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Gartner by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 461,813 shares of the information technology services provider’s stock valued at $208,328,000 after purchasing an additional 10,828 shares during the last quarter. 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.