Morgan Stanley Increases Gartner (NYSE:IT) Price Target to $156.00

Gartner (NYSE:IT) had its price objective hoisted by Morgan Stanley from $148.00 to $156.00 in a research report issued to clients and investors on Friday, BenzingaRatingsTable reports. The brokerage presently has an “equal weight” rating on the information technology services provider’s stock. Morgan Stanley’s price target points to a potential downside of 5.91% from the stock’s current price.

A number of other brokerages also recently issued reports on IT. Zacks Investment Research downgraded Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 9th. Cantor Fitzgerald reiterated a “buy” rating and issued a $107.00 price objective on shares of Perrigo in a research report on Wednesday, May 8th. Finally, BMO Capital Markets downgraded Capital Power from an “outperform” rating to a “market perform” rating in a research report 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 stock. The stock has an average rating of “Hold” and an average price target of $149.38.

Gartner stock opened at $165.79 on Friday. Gartner has a one year low of $120.89 and a one year high of $171.36. The stock has a fifty day moving average of $161.71. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 3.34. The company has a market capitalization of $14.94 billion, a price-to-earnings ratio of 45.30, a P/E/G ratio of 2.96 and a beta of 1.26.



Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, May 7th. The information technology services provider reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.05. Gartner had a return on equity of 37.59% and a net margin of 4.09%. The company had revenue of $970.00 million for the quarter, compared to the consensus estimate of $960.72 million. During the same quarter last year, the business posted $0.72 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. On average, research analysts forecast that Gartner will post 3.96 earnings per share for the current year.

In other Gartner news, EVP Michael Patrick Diliberto sold 700 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $154.00, for a total transaction of $107,800.00. Following the sale, the executive vice president now owns 8,652 shares in the company, valued at $1,332,408. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robin B. Kranich sold 6,366 shares of the firm’s stock in a transaction dated 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 approximately $1,583,581.55. 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. 4.00% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IT. Norges Bank purchased a new stake in Gartner during the fourth quarter valued at about $82,521,000. FMR LLC raised its position in Gartner by 61.5% during the first quarter. FMR LLC now owns 1,096,870 shares of the information technology services provider’s stock valued at $166,374,000 after purchasing an additional 417,543 shares in the last quarter. SG Americas Securities LLC raised its position in Gartner by 1,440.7% during the first quarter. SG Americas Securities LLC now owns 223,982 shares of the information technology services provider’s stock valued at $33,974,000 after purchasing an additional 209,444 shares in the last quarter. Bollard Group LLC raised its position in Gartner by 117.1% during the first quarter. Bollard Group LLC now owns 361,009 shares of the information technology services provider’s stock valued at $54,758,000 after purchasing an additional 194,719 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its position in Gartner by 2,569.3% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 135,091 shares of the information technology services provider’s stock valued at $20,491,000 after purchasing an additional 130,030 shares in the last quarter. Institutional investors and hedge funds own 99.29% of the company’s stock.

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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