Wall Street brokerages forecast that Gartner Inc (NYSE:IT) will announce $919.79 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Gartner’s earnings. The lowest sales estimate is $901.20 million and the highest is $931.20 million. Gartner reported sales of $828.09 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 11.1%. The company is expected to issue its next quarterly earnings report on Thursday, November 1st.
According to Zacks, analysts expect that Gartner will report full-year sales of $4.00 billion for the current fiscal year, with estimates ranging from $3.97 billion to $4.02 billion. For the next fiscal year, analysts expect that the business will post sales of $4.40 billion per share, with estimates ranging from $4.36 billion to $4.42 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Gartner.
Gartner (NYSE:IT) last posted its earnings results on Wednesday, August 1st. The information technology services provider reported $1.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.07. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $985.98 million. Gartner had a net margin of 2.25% and a return on equity of 35.04%. The business’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.88 EPS.
Several equities analysts have recently weighed in on IT shares. Zacks Investment Research cut shares of Gartner from a “hold” rating to a “sell” rating in a research note on Tuesday, April 24th. Morgan Stanley increased their price objective on shares of Gartner from $127.00 to $133.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 9th. Cantor Fitzgerald increased their price objective on shares of Gartner to $148.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 9th. BMO Capital Markets increased their price objective on shares of Gartner from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 9th. Finally, Wells Fargo & Co set a $130.00 price objective on shares of Gartner and gave the stock a “hold” rating in a research note on Wednesday, May 9th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $141.64.
Shares of NYSE:IT traded up $1.77 during trading on Wednesday, hitting $143.12. The company’s stock had a trading volume of 518,624 shares, compared to its average volume of 664,157. Gartner has a 12 month low of $111.57 and a 12 month high of $143.31. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 2.33. The stock has a market capitalization of $12.74 billion, a PE ratio of 43.24, a price-to-earnings-growth ratio of 2.59 and a beta of 1.16.
In related news, EVP Alwyn Dawkins sold 566 shares of the stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $139.69, for a total value of $79,064.54. Following the completion of the sale, the executive vice president now directly owns 30,254 shares of the company’s stock, valued at approximately $4,226,181.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eugene A. Hall sold 38,995 shares of the stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $139.26, for a total transaction of $5,430,443.70. Following the completion of the sale, the chief executive officer now directly owns 1,173,882 shares of the company’s stock, valued at $163,474,807.32. The disclosure for this sale can be found here. Insiders sold a total of 48,011 shares of company stock worth $6,678,216 in the last quarter. Company insiders own 4.00% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Verition Fund Management LLC purchased a new stake in Gartner in the 2nd quarter worth approximately $328,000. Advisors Asset Management Inc. increased its holdings in Gartner by 1,662.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 23,920 shares of the information technology services provider’s stock worth $167,000 after acquiring an additional 22,563 shares in the last quarter. Glenmede Trust Co. NA increased its holdings in Gartner by 4.8% in the 2nd quarter. Glenmede Trust Co. NA now owns 137,559 shares of the information technology services provider’s stock worth $18,282,000 after acquiring an additional 6,265 shares in the last quarter. Millennium Management LLC increased its holdings in Gartner by 131.9% in the 2nd quarter. Millennium Management LLC now owns 22,526 shares of the information technology services provider’s stock worth $2,994,000 after acquiring an additional 12,812 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Gartner by 108.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,018 shares of the information technology services provider’s stock worth $1,332,000 after acquiring an additional 5,204 shares in the last quarter. 96.80% of the stock is owned by institutional investors.
Gartner Company Profile
Gartner, Inc operates as a research and advisory company. It operates through four segments: Research, Consulting, Events, and Talent Assessment & Other. 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 our 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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