Gartner (IT) Releases Earnings Results, Misses Expectations By $0.15 EPS

Gartner (NYSE:IT) released its quarterly earnings data on Tuesday, February 6th. The information technology services provider reported $1.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by ($0.15), Bloomberg Earnings reports. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Gartner had a net margin of 0.10% and a return on equity of 49.06%. The business’s quarterly revenue was up 44.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.97 EPS. Gartner updated its FY18 guidance to $3.71-4.11 EPS.

Shares of Gartner (IT) traded up $0.64 on Wednesday, reaching $119.49. The company had a trading volume of 97,619 shares, compared to its average volume of 662,883. Gartner has a 52 week low of $100.36 and a 52 week high of $142.16. The stock has a market cap of $10,718.57, a price-to-earnings ratio of 3,961.67, a P/E/G ratio of 1.82 and a beta of 1.06. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 3.38.

Hedge funds and other institutional investors have recently modified their holdings of the business. Advisory Services Network LLC boosted its stake in Gartner by 466.7% in the 2nd quarter. Advisory Services Network LLC now owns 969 shares of the information technology services provider’s stock worth $120,000 after purchasing an additional 798 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Gartner by 552.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,475 shares of the information technology services provider’s stock valued at $182,000 after acquiring an additional 1,249 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Gartner by 52.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,468 shares of the information technology services provider’s stock valued at $183,000 after acquiring an additional 505 shares during the last quarter. Fieldpoint Private Securities LLC bought a new stake in shares of Gartner during the 3rd quarter valued at about $185,000. Finally, Parkwood LLC bought a new stake in shares of Gartner during the 3rd quarter valued at about $201,000. Institutional investors and hedge funds own 95.31% of the company’s stock.

A number of research firms have weighed in on IT. Morgan Stanley increased their target price on shares of Gartner from $120.00 to $131.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. Piper Jaffray Companies restated a “hold” rating and set a $130.00 price target on shares of Gartner in a report on Tuesday, January 23rd. Zacks Investment Research upgraded Gartner from a “hold” rating to a “buy” rating and set a $155.00 price target on the stock in a report on Friday, February 2nd. Royal Bank of Canada increased their price target on Gartner to $98.00 and gave the stock a “top pick” rating in a report on Friday, January 19th. They noted that the move was a valuation call. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $139.00 target price on shares of Gartner in a report on Tuesday, February 6th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $134.30.

COPYRIGHT VIOLATION NOTICE: This news story was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this news story on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark legislation. The correct version of this news story can be read at https://www.dispatchtribunal.com/2018/02/14/gartner-it-posts-quarterly-earnings-results-misses-estimates-by-0-15-eps.html.

About Gartner

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.

Earnings History for Gartner (NYSE:IT)

Receive News & Ratings for Gartner Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gartner and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply