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

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Gartner (NYSE:IT) had its price objective raised by Morgan Stanley from $148.00 to $156.00 in a research note published on Friday morning, BenzingaRatingsTable reports. The firm currently has an equal weight rating on the information technology services provider’s stock.

IT has been the topic of several other research reports. Zacks Investment Research lowered shares of Farmers & Merchants Bancorp, Inc. (OH) from a hold rating to a strong sell rating in a report on Thursday, May 9th. BMO Capital Markets lowered shares of Capital Power from an outperform rating to a market perform rating in a report on Wednesday, May 8th. Finally, Cantor Fitzgerald restated a buy rating and issued a $107.00 price target on shares of Perrigo in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $149.38.

NYSE IT opened at $167.72 on Friday. Gartner has a one year low of $120.89 and a one year high of $171.36. The firm has a 50 day simple moving average of $162.61. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $14.99 billion, a price-to-earnings ratio of 44.25, a price-to-earnings-growth ratio of 2.96 and a beta of 1.26.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, May 7th. The information technology services provider reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.05. Gartner had a net margin of 4.09% and a return on equity of 37.59%. The firm had revenue of $970.00 million for the quarter, compared to analyst estimates of $960.72 million. During the same quarter last year, the firm posted $0.72 earnings per share. Gartner’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Gartner will post 3.96 earnings per share for the current fiscal year.

In other Gartner news, EVP Michael Patrick Diliberto sold 700 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $154.00, for a total value of $107,800.00. Following the completion of the sale, the executive vice president now owns 8,652 shares of the company’s stock, valued at $1,332,408. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robin B. Kranich sold 6,366 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $154.27, for a total transaction of $982,082.82. Following the completion of the sale, the executive vice president now directly owns 10,265 shares of the company’s stock, valued at approximately $1,583,581.55. The disclosure for this sale can be found here. Insiders sold 13,610 shares of company stock valued at $2,103,725 in the last ninety days. 4.00% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. Jag Capital Management LLC acquired a new stake in Gartner in the second quarter valued at approximately $3,411,000. FDx Advisors Inc. grew its position in shares of Gartner by 212.3% during the second quarter. FDx Advisors Inc. now owns 40,620 shares of the information technology services provider’s stock worth $6,537,000 after buying an additional 27,612 shares in the last quarter. Norris Perne & French LLP MI grew its position in shares of Gartner by 0.4% during the second quarter. Norris Perne & French LLP MI now owns 60,108 shares of the information technology services provider’s stock worth $9,674,000 after buying an additional 257 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Gartner by 50.0% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the information technology services provider’s stock worth $193,000 after buying an additional 400 shares in the last quarter. Finally, MainStreet Investment Advisors LLC acquired a new stake in shares of Gartner during the second quarter worth approximately $777,000. 99.28% of the stock is owned by institutional investors.

Gartner Company Profile

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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