Morgan Stanley Cuts Gartner (NYSE:IT) Price Target to $130.00
Gartner (NYSE:IT) had its price target lowered by research analysts at Morgan Stanley from $143.00 to $130.00 in a note issued to investors on Thursday, BenzingaRatingsTable reports. The firm presently has an “equal weight” rating on the information technology services provider’s stock. Morgan Stanley’s price target points to a potential upside of 36.53% from the company’s previous close.
A number of other research firms also recently weighed in on IT. Jefferies Financial Group assumed coverage on Gartner in a report on Wednesday, November 27th. They issued a “hold” rating and a $178.00 target price on the stock. BMO Capital Markets cut their target price on shares of Gartner from $121.00 to $113.00 and set a “market perform” rating on the stock in a research note on Wednesday. Robert W. Baird cut their target price on shares of Gartner from $131.00 to $103.00 and set an “outperform” rating on the stock in a research note on Tuesday. ValuEngine lowered shares of Gartner from a “buy” rating to a “hold” rating in a research note on Tuesday, December 24th. Finally, TheStreet lowered shares of Gartner from a “b-” rating to a “c+” rating in a research note on Thursday, March 19th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Gartner presently has a consensus rating of “Hold” and an average price target of $140.17.
Shares of Gartner stock traded up $4.91 on Thursday, hitting $95.22. The company had a trading volume of 1,361,627 shares, compared to its average volume of 1,484,958. The business has a 50-day simple moving average of $127.04 and a 200-day simple moving average of $146.05. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market cap of $8.17 billion, a PE ratio of 37.05, a PEG ratio of 2.23 and a beta of 1.39. Gartner has a 52 week low of $76.91 and a 52 week high of $171.77.
In other Gartner news, EVP Alwyn Dawkins purchased 1,725 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were acquired at an average cost of $125.50 per share, for a total transaction of $216,487.50. Following the completion of the purchase, the executive vice president now owns 41,053 shares of the company’s stock, valued at approximately $5,152,151.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kendall B. Davis sold 6,262 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $154.02, for a total transaction of $964,473.24. Following the completion of the transaction, the executive vice president now owns 153,461 shares in the company, valued at $23,636,063.22. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Polen Capital Management LLC boosted its holdings in shares of Gartner by 3.0% during the 4th quarter. Polen Capital Management LLC now owns 5,328,987 shares of the information technology services provider’s stock valued at $821,197,000 after acquiring an additional 153,981 shares during the last quarter. State Street Corp boosted its position in Gartner by 0.7% during the 4th quarter. State Street Corp now owns 3,586,626 shares of the information technology services provider’s stock valued at $552,699,000 after buying an additional 23,469 shares during the period. Geode Capital Management LLC lifted its holdings in Gartner by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 1,328,484 shares of the information technology services provider’s stock worth $204,279,000 after buying an additional 42,588 shares during the last quarter. Norges Bank acquired a new stake in Gartner during the fourth quarter worth about $107,863,000. Finally, ArrowMark Colorado Holdings LLC raised its holdings in Gartner by 6.8% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 422,029 shares of the information technology services provider’s stock valued at $65,035,000 after acquiring an additional 26,889 shares during the period. Institutional investors and hedge funds own 95.24% of the company’s stock.
Gartner Company Profile
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.
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