Morgan Stanley Boosts Gartner (NYSE:IT) Price Target to $528.00

Gartner (NYSE:IT) had its price target increased by Morgan Stanley from $490.00 to $528.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an equal weight rating on the information technology services provider’s stock.

Several other brokerages have also weighed in on IT. Wells Fargo & Company raised shares of Gartner to a strong sell rating in a research note on Tuesday, August 13th. Bank of America upped their price objective on Gartner from $525.00 to $580.00 and gave the stock a buy rating in a research report on Wednesday, July 31st. UBS Group boosted their price objective on Gartner from $510.00 to $580.00 and gave the stock a buy rating in a research report on Wednesday, July 31st. BMO Capital Markets lifted their price target on shares of Gartner from $450.00 to $510.00 and gave the stock a market perform rating in a research note on Wednesday, July 31st. Finally, StockNews.com lowered shares of Gartner from a buy rating to a hold rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $529.29.

Gartner Trading Up 0.7 %

Shares of Gartner stock traded up $3.56 during mid-day trading on Thursday, hitting $522.28. The stock had a trading volume of 27,012 shares, compared to its average volume of 375,894. The firm has a 50-day moving average of $494.50 and a two-hundred day moving average of $465.97. The firm has a market cap of $40.25 billion, a P/E ratio of 49.40, a price-to-earnings-growth ratio of 3.23 and a beta of 1.32. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 3.80. Gartner has a 12-month low of $323.61 and a 12-month high of $522.28.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.20. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.58 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.85 earnings per share. Sell-side analysts forecast that Gartner will post 11.65 earnings per share for the current year.

Insider Buying and Selling at Gartner

In related news, EVP Alwyn Dawkins sold 1,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $505.49, for a total value of $505,490.00. Following the completion of the sale, the executive vice president now owns 56,650 shares in the company, valued at $28,636,008.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Alwyn Dawkins sold 1,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $505.49, for a total value of $505,490.00. Following the transaction, the executive vice president now owns 56,650 shares in the company, valued at $28,636,008.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Eugene A. Hall sold 12,082 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $504.84, for a total value of $6,099,476.88. Following the sale, the chief executive officer now directly owns 1,143,389 shares of the company’s stock, valued at $577,228,502.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,164 shares of company stock worth $32,601,014 over the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Gartner

Large investors have recently bought and sold shares of the company. Grayhawk Investment Strategies Inc. purchased a new position in Gartner during the fourth quarter worth about $867,000. V Square Quantitative Management LLC raised its stake in shares of Gartner by 21.9% during the 4th quarter. V Square Quantitative Management LLC now owns 1,308 shares of the information technology services provider’s stock worth $590,000 after buying an additional 235 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Gartner in the 4th quarter valued at approximately $160,000. Syon Capital LLC lifted its holdings in Gartner by 6.1% in the fourth quarter. Syon Capital LLC now owns 933 shares of the information technology services provider’s stock valued at $421,000 after acquiring an additional 54 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of Gartner by 12.0% during the 4th quarter. Wellington Management Group LLP now owns 1,852,820 shares of the information technology services provider’s stock worth $835,826,000 after purchasing an additional 198,274 shares in the last quarter. Hedge funds and other institutional investors 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.