Gartner (NYSE:IT) Given New $564.00 Price Target at Morgan Stanley

Gartner (NYSE:IT) had its price target upped by stock analysts at Morgan Stanley from $560.00 to $564.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the information technology services provider’s stock. Morgan Stanley’s price objective suggests a potential upside of 8.74% from the stock’s current price.

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

Gartner Stock Performance

NYSE IT traded up $0.12 during trading hours on Thursday, reaching $518.66. 81,436 shares of the company were exchanged, compared to its average volume of 373,140. Gartner has a 1 year low of $411.15 and a 1 year high of $559.00. The business’s 50 day simple moving average is $522.13 and its 200-day simple moving average is $487.85. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31. The stock has a market capitalization of $40.01 billion, a P/E ratio of 38.25, a P/E/G ratio of 3.23 and a beta of 1.31.

Gartner (NYSE:IT) last posted its quarterly earnings results 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. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the business posted $2.56 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. On average, equities research analysts expect that Gartner will post 11.89 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Claire Herkes sold 478 shares of Gartner stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $506.01, for a total value of $241,872.78. Following the sale, the executive vice president now owns 1,905 shares of the company’s stock, valued at approximately $963,949.05. The trade was a 20.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James C. Smith sold 17,533 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $547.09, for a total value of $9,592,128.97. Following the sale, the director now owns 532,294 shares of the company’s stock, valued at $291,212,724.46. The trade was a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,061 shares of company stock valued at $19,483,846 in the last three months. Insiders own 3.60% of the company’s stock.

Institutional Trading of Gartner

Institutional investors have recently added to or reduced their stakes in the business. Choreo LLC purchased a new stake in Gartner in the second quarter worth approximately $722,000. Victory Capital Management Inc. raised its stake in shares of Gartner by 43.3% during the 2nd quarter. Victory Capital Management Inc. now owns 59,140 shares of the information technology services provider’s stock worth $26,557,000 after acquiring an additional 17,874 shares in the last quarter. Assetmark Inc. increased its stake in shares of Gartner by 70.0% in the third quarter. Assetmark Inc. now owns 5,144 shares of the information technology services provider’s stock worth $2,607,000 after acquiring an additional 2,118 shares during the period. Federated Hermes Inc. boosted its holdings in Gartner by 9.0% during the second quarter. Federated Hermes Inc. now owns 59,393 shares of the information technology services provider’s stock worth $26,671,000 after buying an additional 4,887 shares in the last quarter. Finally, ING Groep NV raised its position in shares of Gartner by 38.4% in the third quarter. ING Groep NV now owns 10,306 shares of the information technology services provider’s stock valued at $5,223,000 after buying an additional 2,860 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Gartner Company Profile

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.