Morgan Stanley Cuts Gartner (NYSE:IT) Price Target to $275.00

Gartner (NYSE:IT) had its target price reduced by Morgan Stanley from $281.00 to $275.00 in a report issued on Wednesday, MarketBeat.com reports. They currently have an equal weight rating on the information technology services provider’s stock.

Several other research firms have also recently issued reports on IT. Weiss Ratings cut shares of Gartner from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. William Blair reissued an “outperform” rating on shares of Gartner in a report on Tuesday, October 21st. Barclays reduced their price objective on shares of Gartner from $270.00 to $260.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Wolfe Research assumed coverage on Gartner in a research note on Wednesday, September 3rd. They set a “peer perform” rating on the stock. Finally, UBS Group set a $256.00 price target on shares of Gartner and gave the company a “neutral” rating in a report on Tuesday, November 25th. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Gartner has a consensus rating of “Hold” and a consensus price target of $308.11.

Gartner Stock Performance

Shares of IT stock opened at $250.29 on Wednesday. The company has a market capitalization of $18.04 billion, a price-to-earnings ratio of 21.96 and a beta of 1.08. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.88 and a current ratio of 0.88. Gartner has a one year low of $222.54 and a one year high of $584.01. The company’s 50-day moving average is $237.43 and its 200 day moving average is $287.33.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, November 4th. The information technology services provider reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.35. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.52 billion. Gartner had a net margin of 13.71% and a return on equity of 92.12%. Gartner has set its FY 2025 guidance at 12.650- EPS. Sell-side analysts expect that Gartner will post 12.5 EPS for the current fiscal year.

Insider Transactions at Gartner

In related news, Director Stephen G. Pagliuca bought 43,300 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was bought at an average cost of $229.57 per share, for a total transaction of $9,940,381.00. Following the purchase, the director directly owned 111,613 shares of the company’s stock, valued at approximately $25,622,996.41. This trade represents a 63.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Claire Herkes sold 367 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $231.56, for a total value of $84,982.52. Following the sale, the executive vice president owned 4,074 shares in the company, valued at approximately $943,375.44. The trade was a 8.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of Gartner

A number of hedge funds have recently bought and sold shares of the business. Independent Franchise Partners LLP acquired a new position in shares of Gartner in the third quarter worth $840,166,000. Capital International Investors purchased a new position in Gartner in the third quarter valued at $820,113,000. Norges Bank purchased a new position in Gartner in the second quarter valued at $394,133,000. T. Rowe Price Investment Management Inc. grew its stake in Gartner by 692.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,066,732 shares of the information technology services provider’s stock worth $447,751,000 after purchasing an additional 932,077 shares in the last quarter. Finally, Bamco Inc. NY increased its holdings in Gartner by 18.3% during the 3rd quarter. Bamco Inc. NY now owns 4,322,113 shares of the information technology services provider’s stock worth $1,136,154,000 after purchasing an additional 669,352 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Company Profile

Gartner, Inc is a global research and advisory firm that provides insights, advice and tools for leaders in IT, finance, HR, customer service and other business functions. Founded in 1979 and headquartered in Stamford, Connecticut, Gartner specializes in helping organizations make informed decisions about technology, operations and strategy through a combination of published research, advisory services, consulting, executive programs and events.

The company’s offerings include proprietary research reports, market forecasts, and analytical frameworks that are widely used by technology buyers and vendors.