Gartner (NYSE:IT – Free Report) had its price target raised by Morgan Stanley from $182.00 to $192.00 in a research note published on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the information technology services provider’s stock.
A number of other equities analysts have also issued reports on IT. Truist Financial lowered shares of Gartner from a “buy” rating to a “hold” rating and lowered their target price for the stock from $235.00 to $210.00 in a research report on Wednesday. Weiss Ratings downgraded shares of Gartner from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, October 26th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $198.00 price target on shares of Gartner in a research note on Tuesday, October 20th. Zacks Research downgraded shares of Gartner from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Finally, Wells Fargo & Company lifted their price objective on shares of Gartner from $150.00 to $175.00 and gave the company an “underweight” rating in a research note on Tuesday, October 20th. Seven equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $206.20.
View Our Latest Analysis on IT
Gartner Stock Performance
Shares of IT traded down $7.99 during midday trading on Wednesday, reaching $190.09. 1,360,527 shares of the stock were exchanged, compared to its average volume of 994,717. The business’s 50-day moving average price is $197.27 and its 200 day moving average price is $169.57. The company has a debt-to-equity ratio of 46.98, a current ratio of 0.88 and a quick ratio of 0.88. Gartner has a twelve month low of $124.25 and a twelve month high of $256.89. The company has a market capitalization of $12.00 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 0.89 and a beta of 0.92.
Gartner (NYSE:IT – Get Free Report) last announced its earnings results on Tuesday, November 3rd. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.75. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Gartner had a return on equity of 525.46% and a net margin of 11.99%. The business’s revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.76 EPS. On average, sell-side analysts expect that Gartner will post 15.02 EPS for the current fiscal year.
Insider Activity at Gartner
In other Gartner news, EVP Robin B. Kranich sold 3,278 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $196.50, for a total transaction of $644,127.00. Following the completion of the transaction, the executive vice president owned 20,358 shares in the company, valued at approximately $4,000,347. This represents a 13.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Akhil Jain sold 700 shares of Gartner stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $201.73, for a total transaction of $141,211.00. Following the completion of the sale, the executive vice president directly owned 8,130 shares in the company, valued at approximately $1,640,064.90. The trade was a 7.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 5,183 shares of company stock worth $1,014,360 in the last three months. Insiders own 2.60% of the company’s stock.
Institutional Trading of Gartner
A number of institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. raised its position in Gartner by 16.0% in the third quarter. Russell Investments Group Ltd. now owns 63,022 shares of the information technology services provider’s stock worth $11,755,000 after acquiring an additional 8,706 shares in the last quarter. Maryland State Retirement & Pension System boosted its position in shares of Gartner by 27.7% during the 3rd quarter. Maryland State Retirement & Pension System now owns 4,325 shares of the information technology services provider’s stock worth $807,000 after purchasing an additional 938 shares in the last quarter. New South Capital Management Inc. acquired a new position in shares of Gartner during the 3rd quarter worth $22,791,000. Ritholtz Wealth Management acquired a new position in shares of Gartner during the 3rd quarter worth $417,000. Finally, Illinois Municipal Retirement Fund grew its stake in shares of Gartner by 43.6% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 27,109 shares of the information technology services provider’s stock worth $5,057,000 after purchasing an additional 8,237 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.
Gartner Company Profile
Gartner, Inc is a global research and advisory company that provides information, analysis and guidance to business leaders, technology professionals and public-sector organizations. Its work focuses on helping clients evaluate technology markets, develop business strategies, manage risk and make decisions about digital transformation and other organizational priorities.
The company delivers its services through research and advisory programs, consulting engagements, executive guidance and conferences.
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