Gartner (NYSE:IT) had its target price lowered by Morgan Stanley from $140.00 to $130.00 in a research note issued to investors on Friday morning, BenzingaRatingsTable reports. The brokerage currently has an equal weight rating on the information technology services provider’s stock.
Other research analysts also recently issued reports about the company. TheStreet downgraded Gartner from a b- rating to a c+ rating in a research note on Thursday, March 19th. Barclays reissued a hold rating and set a $90.00 price target on shares of Gartner in a report on Friday, March 27th. BMO Capital Markets boosted their price objective on Gartner from $100.00 to $122.00 and gave the stock a market perform rating in a research report on Monday, May 11th. Finally, Robert W. Baird cut their target price on Gartner from $131.00 to $103.00 and set an outperform rating on the stock in a research report on Tuesday, March 24th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Gartner has a consensus rating of Hold and an average price target of $124.60.
NYSE IT opened at $118.94 on Friday. The firm has a market cap of $10.61 billion, a P/E ratio of 37.52, a P/E/G ratio of 3.89 and a beta of 1.47. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.70 and a quick ratio of 0.70. The stock’s 50-day moving average is $122.26 and its 200-day moving average is $128.05. Gartner has a one year low of $76.91 and a one year high of $171.77.
Gartner (NYSE:IT) last released its quarterly earnings results on Thursday, May 7th. The information technology services provider reported $1.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.88. Gartner had a return on equity of 44.23% and a net margin of 6.70%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the firm posted $0.58 earnings per share. Gartner’s revenue was up 5.1% compared to the same quarter last year. Equities analysts anticipate that Gartner will post 3.06 EPS for the current year.
In other news, EVP Robin B. Kranich sold 2,599 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $118.24, for a total value of $307,305.76. Following the sale, the executive vice president now directly owns 10,806 shares of the company’s stock, valued at approximately $1,277,701.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 4.00% of the company’s stock.
Several hedge funds have recently modified their holdings of IT. CIBC World Markets Inc. bought a new position in Gartner in the 4th quarter worth $379,000. Dai Ichi Life Insurance Company Ltd raised its position in shares of Gartner by 78.0% during the 4th quarter. Dai Ichi Life Insurance Company Ltd now owns 23,304 shares of the information technology services provider’s stock valued at $3,591,000 after buying an additional 10,214 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Gartner by 20.1% during the 1st quarter. Wells Fargo & Company MN now owns 694,151 shares of the information technology services provider’s stock valued at $69,117,000 after buying an additional 116,372 shares in the last quarter. Colony Group LLC purchased a new stake in shares of Gartner during the 1st quarter valued at about $466,000. Finally, Asset Management One Co. Ltd. raised its position in shares of Gartner by 4.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 62,013 shares of the information technology services provider’s stock valued at $9,556,000 after buying an additional 2,755 shares in the last quarter. 93.54% of the stock is owned by hedge funds and other institutional investors.
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.
Further Reading: Net Margin
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