Gartner (NYSE:IT) Price Target Raised to $564.00

Gartner (NYSE:IT) had its price objective boosted by Morgan Stanley from $560.00 to $564.00 in a report issued on Thursday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the information technology services provider’s stock.

A number of other research analysts have also recently issued reports on IT. Barclays raised their price objective on Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Wells Fargo & Company boosted their price objective on Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Finally, Robert W. Baird upped their price target on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $543.75.

Gartner Price Performance

Shares of Gartner stock opened at $508.46 on Thursday. The firm has a market capitalization of $39.22 billion, a PE ratio of 37.50, a price-to-earnings-growth ratio of 3.24 and a beta of 1.31. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. Gartner has a 12 month low of $411.15 and a 12 month high of $559.00. The business’s 50-day moving average price is $522.13 and its 200-day moving average price is $488.89.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the business earned $2.56 earnings per share. Sell-side analysts forecast that Gartner will post 11.89 EPS for the current fiscal year.

Insider Activity at Gartner

In other news, EVP William James Wartinbee III sold 189 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $523.54, for a total value of $98,949.06. Following the completion of the transaction, the executive vice president now owns 7,311 shares in the company, valued at $3,827,600.94. This trade represents a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James C. Smith sold 17,533 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $547.09, for a total value of $9,592,128.97. Following the completion of the sale, the director now directly owns 532,294 shares in the company, valued at approximately $291,212,724.46. The trade was a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,583 shares of company stock worth $19,241,974 over the last quarter. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Baron Wealth Management LLC grew its stake in shares of Gartner by 4.1% in the third quarter. Baron Wealth Management LLC now owns 481 shares of the information technology services provider’s stock worth $244,000 after acquiring an additional 19 shares during the last quarter. Fortitude Family Office LLC boosted its stake in Gartner by 23.8% in the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after purchasing an additional 20 shares in the last quarter. Moors & Cabot Inc. grew its position in Gartner by 3.0% during the 2nd quarter. Moors & Cabot Inc. now owns 763 shares of the information technology services provider’s stock valued at $343,000 after purchasing an additional 22 shares during the last quarter. Wallace Advisory Group LLC increased its stake in Gartner by 2.4% during the 2nd quarter. Wallace Advisory Group LLC now owns 980 shares of the information technology services provider’s stock valued at $440,000 after purchasing an additional 23 shares in the last quarter. Finally, Trust Point Inc. raised its holdings in Gartner by 3.2% in the third quarter. Trust Point Inc. now owns 746 shares of the information technology services provider’s stock worth $378,000 after buying an additional 23 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Company Profile

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.