Gartner (NYSE:IT) PT Lowered to $135.00 at BMO Capital Markets

Gartner (NYSE:IT) had its target price decreased by BMO Capital Markets from $139.00 to $135.00 in a research note issued to investors on Wednesday, February 7th. The firm currently has an “outperform” rating on the information technology services provider’s stock. BMO Capital Markets’ price target suggests a potential upside of 12.19% from the stock’s previous close.

Several other analysts have also issued reports on IT. Morgan Stanley boosted their price objective on shares of Gartner from $120.00 to $131.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. Cantor Fitzgerald reiterated a “buy” rating and set a $139.00 price target on shares of Gartner in a research note on Tuesday, February 6th. Piper Jaffray Companies reiterated a “hold” rating and set a $136.00 price target on shares of Gartner in a research note on Tuesday, January 30th. Zacks Investment Research upgraded shares of Gartner from a “hold” rating to a “buy” rating and set a $139.00 target price on the stock in a research note on Monday, October 16th. Finally, Goldman Sachs Group assumed coverage on shares of Gartner in a research note on Wednesday, November 8th. They set a “buy” rating and a $146.00 target price on the stock. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Gartner currently has a consensus rating of “Buy” and a consensus target price of $134.30.

Gartner (NYSE:IT) traded up $1.48 during mid-day trading on Wednesday, reaching $120.33. 611,691 shares of the company’s stock traded hands, compared to its average volume of 681,514. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 3.38. Gartner has a fifty-two week low of $100.36 and a fifty-two week high of $142.16. The company has a market capitalization of $10,890.00, a price-to-earnings ratio of 4,003.00, a P/E/G ratio of 1.82 and a beta of 1.06.

Gartner (NYSE:IT) last released its earnings results on Tuesday, February 6th. The information technology services provider reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.15). The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Gartner had a return on equity of 49.06% and a net margin of 0.10%. The firm’s revenue for the quarter was up 44.3% on a year-over-year basis. During the same quarter last year, the business earned $0.97 earnings per share. research analysts anticipate that Gartner will post 3.94 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in IT. FMR LLC increased its position in shares of Gartner by 212.9% in the second quarter. FMR LLC now owns 358,979 shares of the information technology services provider’s stock valued at $44,338,000 after buying an additional 244,244 shares in the last quarter. Advisor Group Inc. increased its position in shares of Gartner by 13.4% in the second quarter. Advisor Group Inc. now owns 2,035 shares of the information technology services provider’s stock valued at $251,000 after buying an additional 240 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Gartner by 59.0% in the second quarter. Dimensional Fund Advisors LP now owns 315,351 shares of the information technology services provider’s stock valued at $38,950,000 after buying an additional 116,983 shares in the last quarter. QS Investors LLC increased its position in shares of Gartner by 65.6% in the second quarter. QS Investors LLC now owns 2,815 shares of the information technology services provider’s stock valued at $348,000 after buying an additional 1,115 shares in the last quarter. Finally, Employees Retirement System of Texas purchased a new position in shares of Gartner in the second quarter valued at $988,000. Institutional investors and hedge funds own 95.31% of the company’s stock.

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About Gartner

Gartner, Inc is an information technology research and advisory company. The Company works with clients to research, analyze and interpret the business of information technology (IT), supply chain and marketing within the context of their individual roles. It operates in three segments: Research, Consulting and Events.

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