Gartner (IT) Price Target Cut to $140.00

Gartner (NYSE:IT) had its target price lowered by analysts at Robert W. Baird from $145.00 to $140.00 in a report released on Wednesday. The brokerage currently has an “outperform” rating on the information technology services provider’s stock. Robert W. Baird’s price objective indicates a potential upside of 22.53% from the stock’s previous close.

A number of other analysts have also weighed in on IT. Piper Jaffray Companies reiterated a “hold” rating and issued a $136.00 price objective on shares of Gartner in a research note on Tuesday, January 30th. BMO Capital Markets cut their price objective on shares of Gartner from $139.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday. Morgan Stanley increased their price objective on shares of Gartner from $120.00 to $131.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. Zacks Investment Research upgraded shares of Gartner from a “hold” rating to a “buy” rating and set a $155.00 price objective on the stock in a research note on Friday, February 2nd. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $142.00 price objective (down previously from $160.00) on shares of Gartner in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Gartner presently has a consensus rating of “Buy” and a consensus target price of $134.30.

Gartner (NYSE:IT) opened at $114.26 on Wednesday. The company has a debt-to-equity ratio of 3.38, a quick ratio of 0.73 and a current ratio of 0.73. Gartner has a 52 week low of $98.08 and a 52 week high of $142.16. The stock has a market cap of $11,242.54, a P/E ratio of 3,808.67, a price-to-earnings-growth ratio of 1.90 and a beta of 1.06.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, February 6th. The information technology services provider reported $1.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.32 by ($0.15). Gartner had a net margin of 0.10% and a return on equity of 49.06%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. During the same quarter in the previous year, the company posted $0.97 EPS. The company’s revenue for the quarter was up 44.3% compared to the same quarter last year. equities research analysts expect that Gartner will post 3.95 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in IT. Advisory Services Network LLC boosted its holdings in Gartner by 466.7% during the second quarter. Advisory Services Network LLC now owns 969 shares of the information technology services provider’s stock worth $120,000 after buying an additional 798 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in Gartner by 52.4% during the third quarter. Advisors Asset Management Inc. now owns 1,468 shares of the information technology services provider’s stock worth $183,000 after buying an additional 505 shares in the last quarter. Fieldpoint Private Securities LLC purchased a new stake in Gartner during the third quarter worth $185,000. Parkwood LLC purchased a new stake in Gartner during the third quarter worth $201,000. Finally, Lourd Capital LLC purchased a new stake in Gartner during the fourth quarter worth $204,000. 95.73% of the stock is currently owned by hedge funds and other institutional investors.

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Gartner Company Profile

Gartner, Inc is an information technology research and advisory company. The Company works with clients to research, analyze and interpret the business of information technology (IT), supply chain and marketing within the context of their individual roles. It operates in three segments: Research, Consulting and Events.

Analyst Recommendations for Gartner (NYSE:IT)

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