Gartner (NYSE:IT) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Gartner (NYSE:IT) had its price objective upped by equities research analysts at Morgan Stanley from $560.00 to $564.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the information technology services provider’s stock. Morgan Stanley’s target price suggests a potential upside of 10.92% from the company’s current price.

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

Gartner Stock Down 1.1 %

IT stock opened at $508.46 on Thursday. The stock 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 fifty day moving average of $522.13 and a 200-day moving average of $488.51. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02. Gartner has a one year low of $411.15 and a one year high of $559.00.

Gartner (NYSE:IT) last announced its quarterly earnings data 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 firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.56 earnings per share. As a group, analysts expect that Gartner will post 11.89 EPS for the current year.

Insider Buying and Selling

In other Gartner news, Director James C. Smith sold 17,533 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 532,294 shares of the company’s stock, valued at $291,212,724.46. This trade represents a 3.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William James Wartinbee III sold 189 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $523.54, for a total transaction of $98,949.06. Following the completion of the transaction, the executive vice president now directly owns 7,311 shares of the company’s stock, valued at approximately $3,827,600.94. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,583 shares of company stock worth $19,241,974. 3.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Eastern Bank purchased a new position in shares of Gartner during the 3rd quarter worth about $26,000. Crewe Advisors LLC raised its stake in Gartner by 223.3% during the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock worth $44,000 after purchasing an additional 67 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of Gartner in the 3rd quarter valued at $44,000. True Wealth Design LLC grew its stake in shares of Gartner by 2,350.0% during the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock valued at $50,000 after buying an additional 94 shares during the period. Finally, Fortitude Family Office LLC increased its holdings in shares of Gartner by 23.8% during the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after buying an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

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.