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

Gartner (NYSE:IT) had its target price boosted by Morgan Stanley from $148.00 to $156.00 in a report published on Friday, 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 reports. Zacks Investment Research cut shares of Farmers & Merchants Bancorp, Inc. (OH) from a hold rating to a strong sell rating in a research note on Thursday, May 9th. BMO Capital Markets cut shares of Capital Power from an outperform rating to a market perform rating in a research note on Wednesday, May 8th. Finally, Cantor Fitzgerald reissued a buy rating and issued a $107.00 price objective on shares of Perrigo in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $149.38.

IT stock opened at $167.72 on Friday. The firm has a fifty day simple moving average of $162.61. Gartner has a 12 month low of $120.89 and a 12 month high of $171.36. The stock has a market cap of $14.99 billion, a P/E ratio of 44.25, a price-to-earnings-growth ratio of 2.96 and a beta of 1.26. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.67 and a current ratio of 0.67.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, May 7th. The information technology services provider reported $0.58 EPS for the quarter, beating the 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 during the quarter, compared to the consensus estimate of $960.72 million. During the same quarter in the prior year, the firm earned $0.72 EPS. Gartner’s revenue for the quarter was up .6% on a year-over-year basis. As a group, research analysts anticipate that Gartner will post 3.96 EPS for the current year.

In other news, Director Karen E. Dykstra sold 1,812 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $150.22, for a total transaction of $272,198.64. Following the transaction, the director now directly owns 20,698 shares of the company’s stock, valued at approximately $3,109,253.56. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Robin B. Kranich sold 6,366 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $154.27, for a total transaction of $982,082.82. Following the transaction, the executive vice president now directly owns 10,265 shares in the company, valued at $1,583,581.55. The disclosure for this sale can be found here. Insiders sold a total of 13,610 shares of company stock worth $2,103,725 over the last three months. 4.00% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in shares of Gartner by 6.7% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,435 shares of the information technology services provider’s stock worth $217,000 after purchasing an additional 90 shares during the period. Piedmont Investment Advisors Inc. grew its stake in shares of Gartner by 1.7% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 7,883 shares of the information technology services provider’s stock worth $1,196,000 after purchasing an additional 133 shares during the period. Nordea Investment Management AB grew its stake in shares of Gartner by 2.9% during the 1st quarter. Nordea Investment Management AB now owns 4,707 shares of the information technology services provider’s stock worth $714,000 after purchasing an additional 133 shares during the period. YorkBridge Wealth Partners LLC grew its stake in shares of Gartner by 1.5% during the 1st quarter. YorkBridge Wealth Partners LLC now owns 9,002 shares of the information technology services provider’s stock worth $1,365,000 after purchasing an additional 134 shares during the period. Finally, Eukles Asset Management grew its stake in shares of Gartner by 5.8% during the 1st quarter. Eukles Asset Management now owns 3,133 shares of the information technology services provider’s stock worth $475,000 after purchasing an additional 172 shares during the period. 99.28% of the stock is currently owned by institutional investors and hedge funds.

About Gartner

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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