Gartner, Inc. (IT) Price Target Raised to $120.00
Gartner, Inc. (NYSE:IT) had its price objective increased by equities research analysts at Morgan Stanley from $118.00 to $120.00 in a research note issued to investors on Monday. The brokerage currently has an “equal weight” rating on the information technology services provider’s stock. Morgan Stanley’s price objective indicates a potential downside of 3.83% from the stock’s current price.
A number of other brokerages have also recently commented on IT. Zacks Investment Research cut Gartner from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $132.00 price target (down from $137.00) on shares of Gartner in a research note on Monday, August 14th. Royal Bank Of Canada reaffirmed a “top pick” rating and issued a $142.00 price target (up from $130.00) on shares of Gartner in a research note on Friday, July 21st. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $105.00 price target on shares of Gartner in a research note on Thursday, August 31st. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $138.00 price target (up from $130.00) on shares of Gartner in a research note on Wednesday, August 9th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $127.67.
Shares of Gartner (NYSE:IT) traded down 0.40% during trading on Monday, hitting $124.78. 325,348 shares of the stock traded hands. Gartner has a 1-year low of $84.54 and a 1-year high of $130.02. The company has a 50 day moving average of $123.55 and a 200-day moving average of $120.57. The company has a market cap of $11.30 billion, a PE ratio of 256.22 and a beta of 1.07.
Gartner (NYSE:IT) last released its earnings results on Tuesday, August 8th. The information technology services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.05. Gartner had a net margin of 1.50% and a return on equity of 103.10%. The company had revenue of $843.73 million for the quarter, compared to the consensus estimate of $892.64 million. During the same period in the prior year, the company posted $0.75 EPS. The company’s revenue was up 38.3% compared to the same quarter last year. On average, equities analysts anticipate that Gartner will post $3.41 EPS for the current fiscal year.
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In related news, Director Anne Sutherland Fuchs sold 5,000 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $118.92, for a total transaction of $594,600.00. Following the completion of the sale, the director now directly owns 27,395 shares of the company’s stock, valued at approximately $3,257,813.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Robin B. Kranich sold 7,487 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $120.08, for a total value of $899,038.96. Following the sale, the senior vice president now directly owns 21,298 shares of the company’s stock, valued at $2,557,463.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,363 shares of company stock valued at $2,775,387. 4.30% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC increased its stake in Gartner by 466.7% during the 2nd quarter. Advisory Services Network LLC now owns 969 shares of the information technology services provider’s stock worth $120,000 after purchasing an additional 798 shares in the last quarter. Benjamin F. Edwards & Company Inc. bought a new stake in Gartner during the 2nd quarter worth approximately $124,000. Bronfman E.L. Rothschild L.P. increased its stake in Gartner by 9.5% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,182 shares of the information technology services provider’s stock worth $146,000 after purchasing an additional 103 shares in the last quarter. Commonwealth Bank of Australia increased its stake in Gartner by 20.0% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,200 shares of the information technology services provider’s stock worth $148,000 after purchasing an additional 200 shares in the last quarter. Finally, Noesis Capital Mangement Corp bought a new stake in Gartner during the 2nd quarter worth approximately $203,000. 91.87% of the stock is owned by institutional investors and hedge funds.
Gartner Company Profile
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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