Gartner (NYSE:IT) Given New $564.00 Price Target at Morgan Stanley

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

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

Gartner Price Performance

NYSE IT opened at $508.46 on Thursday. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $39.22 billion, a price-to-earnings ratio of 37.50, a PEG ratio of 3.24 and a beta of 1.31. The stock has a 50-day moving average of $522.13 and a 200 day moving average of $488.89. Gartner has a one year low of $411.15 and a one year high of $559.00.

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

Insider Activity at Gartner

In related news, Director James C. Smith sold 17,533 shares of Gartner stock in a transaction on Friday, November 8th. The shares were sold at an average price of $547.09, for a total transaction of $9,592,128.97. Following the transaction, the director now owns 532,294 shares in the company, valued at approximately $291,212,724.46. The trade was a 3.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William James Wartinbee III sold 189 shares of the stock in a transaction 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 sale, the executive vice president now owns 7,311 shares of the company’s stock, valued at $3,827,600.94. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,583 shares of company stock worth $19,241,974. 3.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

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.