Wall Street analysts expect Gartner, Inc. (NYSE:IT) to post sales of $1.03 billion for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Gartner’s earnings, with the lowest sales estimate coming in at $998.90 million and the highest estimate coming in at $1.05 billion. Gartner posted sales of $703.22 million during the same quarter last year, which suggests a positive year over year growth rate of 46.5%. The business is scheduled to issue its next earnings report on Thursday, February 1st.
On average, analysts expect that Gartner will report full-year sales of $1.03 billion for the current financial year, with estimates ranging from $3.29 billion to $3.50 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $4.04 billion per share, with estimates ranging from $3.97 billion to $4.07 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Gartner.
Gartner (NYSE:IT) last issued its quarterly earnings results on Thursday, November 2nd. The information technology services provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.52 by $0.13. Gartner had a negative net margin of 1.25% and a positive return on equity of 57.60%. The business had revenue of $828.09 million for the quarter, compared to analysts’ expectations of $826.09 million. During the same quarter last year, the company posted $0.58 earnings per share. The company’s quarterly revenue was up 44.3% compared to the same quarter last year.
IT has been the topic of several research analyst reports. Zacks Investment Research raised shares of Gartner from a “hold” rating to a “buy” rating and set a $142.00 price target on the stock in a research report on Wednesday, July 19th. Morgan Stanley increased their price target on shares of Gartner from $118.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Monday, October 23rd. BMO Capital Markets reaffirmed an “outperform” rating and set a $132.00 price target (down previously from $137.00) on shares of Gartner in a research report on Monday, August 14th. Royal Bank Of Canada reaffirmed a “top pick” rating and set a $142.00 price target (up previously from $130.00) on shares of Gartner in a research report on Friday, July 21st. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $105.00 price target on shares of Gartner in a research report on Thursday, August 31st. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Gartner currently has a consensus rating of “Buy” and an average target price of $132.60.
Shares of Gartner (IT) traded up $0.14 during mid-day trading on Friday, hitting $117.48. 493,700 shares of the stock traded hands, compared to its average volume of 647,822. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 3.38. Gartner has a twelve month low of $90.37 and a twelve month high of $130.02. The company has a market capitalization of $10,643.34, a PE ratio of 37.90, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08.
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In other Gartner news, Director Anne Sutherland Fuchs sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $117.02, for a total value of $585,100.00. Following the sale, the director now owns 29,895 shares in the company, valued at $3,498,312.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Robin B. Kranich sold 7,487 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $120.08, for a total transaction of $899,038.96. Following the completion of the sale, the senior vice president now owns 21,298 shares in the company, valued at approximately $2,557,463.84. The disclosure for this sale can be found here. Insiders sold 22,363 shares of company stock worth $2,656,767 in the last three months. 4.30% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in shares of Gartner by 59.0% in the second quarter. Dimensional Fund Advisors LP now owns 315,351 shares of the information technology services provider’s stock valued at $38,950,000 after purchasing an additional 116,983 shares during the period. Atlantic Trust Group LLC acquired a new stake in shares of Gartner in the second quarter valued at approximately $1,297,000. Virginia Retirement Systems ET AL increased its stake in shares of Gartner by 249.0% in the second quarter. Virginia Retirement Systems ET AL now owns 17,100 shares of the information technology services provider’s stock valued at $2,112,000 after purchasing an additional 12,200 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Gartner by 3.8% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 209,092 shares of the information technology services provider’s stock valued at $25,825,000 after purchasing an additional 7,596 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Gartner by 6.5% in the second quarter. JPMorgan Chase & Co. now owns 1,254,564 shares of the information technology services provider’s stock valued at $154,949,000 after purchasing an additional 77,018 shares during the period. Institutional investors own 92.19% of the company’s stock.
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.
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