Morgan Stanley Cuts Gartner (IT) Price Target to $134.00

Gartner (NYSE:IT) had its target price trimmed by Morgan Stanley from $144.00 to $134.00 in a research report report published on Tuesday morning. The brokerage currently has an equal weight rating on the information technology services provider’s stock.

A number of other brokerages have also recently commented on IT. Bank of America started coverage on shares of Gartner in a research note on Monday, October 22nd. They issued a buy rating for the company. BMO Capital Markets reiterated a buy rating and issued a $174.00 price target on shares of Gartner in a research note on Sunday, October 21st. TheStreet cut shares of Gartner from a b rating to a c+ rating in a research note on Thursday, November 1st. Wells Fargo & Co increased their price target on shares of Gartner from $130.00 to $155.00 and gave the company a market perform rating in a research note on Monday, October 1st. Finally, Robert W. Baird increased their price target on shares of Gartner from $155.00 to $170.00 and gave the company an outperform rating in a research note on Friday, September 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $146.10.

NYSE:IT traded up $0.55 during trading hours on Tuesday, hitting $128.79. The stock had a trading volume of 17,359 shares, compared to its average volume of 741,283. Gartner has a one year low of $111.57 and a one year high of $161.21. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market capitalization of $11.54 billion, a PE ratio of 38.93, a PEG ratio of 2.11 and a beta of 1.29.

Gartner (NYSE:IT) last issued its quarterly earnings data on Thursday, November 1st. The information technology services provider reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.23. Gartner had a net margin of 3.74% and a return on equity of 36.22%. The company had revenue of $922.00 million during the quarter, compared to the consensus estimate of $919.96 million. During the same quarter in the prior year, the firm earned $0.65 earnings per share. The firm’s revenue was up 11.4% compared to the same quarter last year. On average, sell-side analysts forecast that Gartner will post 3.65 earnings per share for the current year.

In other news, EVP Alwyn Dawkins sold 1,378 shares of the firm’s stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $147.20, for a total value of $202,841.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Robin B. Kranich sold 3,085 shares of the firm’s stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $149.24, for a total transaction of $460,405.40. Following the completion of the sale, the executive vice president now owns 11,914 shares in the company, valued at $1,778,045.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,226 shares of company stock worth $1,070,818. Insiders own 4.00% of the company’s stock.

A number of large investors have recently bought and sold shares of IT. BP PLC acquired a new position in shares of Gartner in the 3rd quarter worth approximately $1,743,000. Royal London Asset Management Ltd. bought a new stake in shares of Gartner in the 2nd quarter valued at $4,846,000. Vanguard Group Inc increased its stake in shares of Gartner by 0.5% in the 3rd quarter. Vanguard Group Inc now owns 9,199,545 shares of the information technology services provider’s stock valued at $1,458,127,000 after acquiring an additional 43,975 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Gartner by 108.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,018 shares of the information technology services provider’s stock valued at $1,332,000 after purchasing an additional 5,204 shares in the last quarter. Finally, Standard Life Aberdeen plc increased its stake in Gartner by 13.3% during the 3rd quarter. Standard Life Aberdeen plc now owns 23,991 shares of the information technology services provider’s stock valued at $3,802,000 after purchasing an additional 2,814 shares in the last quarter.

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.

See Also: What is an SEC Filing?

Analyst Recommendations for Gartner (NYSE:IT)

Receive News & Ratings for Gartner Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gartner and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply